Discounted Cash Flow (DCF) Analysis Levered
Aurinia Pharmaceuticals Inc. (AUPH)
$9.29
+0.55 (+6.29%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 0.46 | 0.32 | 50.12 | 45.60 | 134.03 | 5,432.89 | 220,221.44 | 8,926,647.66 | 361,840,509.79 | 14,667,158,321.92 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -51.61 | -63.46 | -69.86 | -157.69 | -79.53 | -343,859.34 | -13,938,293.76 | -564,986,936.82 | -22,901,672,498.85 | -928,316,336,302.92 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.07 | -0.10 | -7.34 | -1.50 | -0.29 | -728.70 | -29,537.73 | -1,197,307.95 | -48,532,723.17 | -1,967,267,664.44 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -51.69 | -63.56 | -77.20 | -159.19 | -79.82 | -344,588.03 | -13,967,831.48 | -566,184,244.77 | -22,950,205,222.03 | -930,283,603,967.36 |
Weighted Average Cost Of Capital
| Share price | $ 9.29 |
|---|---|
| Beta | 1.160 |
| Diluted Shares Outstanding | 141.91 |
| Cost of Debt | |
| Tax Rate | -1.72 |
| After-tax Cost of Debt | 63.28% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.881 |
| Total Debt | 8.09 |
| Total Equity | 1,318.39 |
| Total Capital | 1,326.48 |
| Debt Weighting | 0.61 |
| Equity Weighting | 99.39 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 0.46 | 0.32 | 50.12 | 45.60 | 134.03 | 5,432.89 | 220,221.44 | 8,926,647.66 | 361,840,509.79 | 14,667,158,321.92 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -51.61 | -63.46 | -69.86 | -157.69 | -79.53 | -343,859.34 | -13,938,293.76 | -564,986,936.82 | -22,901,672,498.85 | -928,316,336,302.92 |
| Capital Expenditure | -0.07 | -0.10 | -7.34 | -1.50 | -0.29 | -728.70 | -29,537.73 | -1,197,307.95 | -48,532,723.17 | -1,967,267,664.44 |
| Free Cash Flow | -51.69 | -63.56 | -77.20 | -159.19 | -79.82 | -344,588.03 | -13,967,831.48 | -566,184,244.77 | -22,950,205,222.03 | -930,283,603,967.36 |
| WACC | ||||||||||
| PV LFCF | -203,107.40 | -7,538,624.94 | -279,806,966.55 | -10,385,440,201.24 | -385,470,631,779.27 | |||||
| SUM PV LFCF | -615,410,217,082.18 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 9.21 |
| Free cash flow (t + 1) | -948,889,276,046.70 |
| Terminal Value | -13,160,738,918,816.96 |
| Present Value of Terminal Value | -8,471,654,550,740.57 |
Intrinsic Value
| Enterprise Value | -9,087,064,767,822.75 |
|---|---|
| Net Debt | -86.08 |
| Equity Value | -9,087,064,767,736.66 |
| Shares Outstanding | 141.91 |
| Equity Value Per Share | -64,031,742,717.38 |