Discounted Cash Flow (DCF) Analysis Levered
ANI Pharmaceuticals, Inc. (ANIP)
$68.24
+0.62 (+0.92%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
Revenue | 206.55 | 208.48 | 216.14 | 316.38 | 486.82 | 614.43 | 775.51 | 978.80 | 1,235.39 | 1,559.25 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 45.63 | 15.27 | 3.32 | -31.20 | 118.96 | 55.95 | 70.61 | 89.12 | 112.49 | 141.97 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -27.55 | -68.32 | -23.64 | -16.46 | -18.51 | -81.17 | -102.44 | -129.30 | -163.20 | -205.98 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 18.08 | -53.06 | -20.32 | -47.66 | 100.45 | -25.22 | -31.83 | -40.18 | -50.71 | -64 |
Weighted Average Cost Of Capital
Share price | $ 68.24 |
---|---|
Beta | 0.800 |
Diluted Shares Outstanding | 18.19 |
Cost of Debt | |
Tax Rate | 5.50 |
After-tax Cost of Debt | 8.25% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 8.096 |
Total Debt | 315.33 |
Total Equity | 1,241.56 |
Total Capital | 1,556.89 |
Debt Weighting | 20.25 |
Equity Weighting | 79.75 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
Revenue | 206.55 | 208.48 | 216.14 | 316.38 | 486.82 | 614.43 | 775.51 | 978.80 | 1,235.39 | 1,559.25 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 45.63 | 15.27 | 3.32 | -31.20 | 118.96 | 55.95 | 70.61 | 89.12 | 112.49 | 141.97 |
Capital Expenditure | -27.55 | -68.32 | -23.64 | -16.46 | -18.51 | -81.17 | -102.44 | -129.30 | -163.20 | -205.98 |
Free Cash Flow | 18.08 | -53.06 | -20.32 | -47.66 | 100.45 | -25.22 | -31.83 | -40.18 | -50.71 | -64 |
WACC | ||||||||||
PV LFCF | -23.32 | -27.23 | -31.78 | -37.09 | -43.30 | |||||
SUM PV LFCF | -162.72 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 8.13 |
Free cash flow (t + 1) | -65.28 |
Terminal Value | -1,064.99 |
Present Value of Terminal Value | -720.47 |
Intrinsic Value
Enterprise Value | -883.19 |
---|---|
Net Debt | 94.21 |
Equity Value | -977.40 |
Shares Outstanding | 18.19 |
Equity Value Per Share | -53.72 |