Discounted Cash Flow (DCF) Analysis Levered
Alterity Therapeutics Limited (ATHE)
$3.87
-0.04 (-1.02%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 0.20 | 0.11 | 0.06 | 0.03 | 0.02 | 0.01 | 0 | 0 | 0 | 0 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -6.25 | -13.95 | -9.43 | -3.38 | -1.82 | -0.98 | -0.53 | -0.29 | -0.15 | -0.08 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.06 | -0.01 | -0.02 | -0 | -0.09 | -0.01 | -0.01 | -0 | -0 | -0 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -6.31 | -13.96 | -9.45 | -3.38 | -1.91 | -0.99 | -0.54 | -0.29 | -0.16 | -0.08 |
Weighted Average Cost Of Capital
| Share price | $ 3.87 |
|---|---|
| Beta | 0.898 |
| Diluted Shares Outstanding | 282.81 |
| Cost of Debt | |
| Tax Rate | -0.55 |
| After-tax Cost of Debt | 2.13% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 7.636 |
| Total Debt | 0.12 |
| Total Equity | 1,094.49 |
| Total Capital | 1,094.60 |
| Debt Weighting | 0.01 |
| Equity Weighting | 99.99 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 0.20 | 0.11 | 0.06 | 0.03 | 0.02 | 0.01 | 0 | 0 | 0 | 0 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -6.25 | -13.95 | -9.43 | -3.38 | -1.82 | -0.98 | -0.53 | -0.29 | -0.15 | -0.08 |
| Capital Expenditure | -0.06 | -0.01 | -0.02 | -0 | -0.09 | -0.01 | -0.01 | -0 | -0 | -0 |
| Free Cash Flow | -6.31 | -13.96 | -9.45 | -3.38 | -1.91 | -0.99 | -0.54 | -0.29 | -0.16 | -0.08 |
| WACC | ||||||||||
| PV LFCF | -10.95 | -3.64 | -1.91 | -0.92 | -0.46 | -0.23 | -0.12 | -0.06 | ||
| SUM PV LFCF | -1.79 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.64 |
| Free cash flow (t + 1) | -0.09 |
| Terminal Value | -1.52 |
| Present Value of Terminal Value | -1.05 |
Intrinsic Value
| Enterprise Value | -2.85 |
|---|---|
| Net Debt | -34.69 |
| Equity Value | 31.84 |
| Shares Outstanding | 282.81 |
| Equity Value Per Share | 0.11 |