Discounted Cash Flow (DCF) Analysis Levered
AxoGen, Inc. (AXGN)
$8.71
-0.18 (-2.02%)
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 | 83.94 | 106.71 | 112.30 | 127.36 | 138.58 | 157.50 | 178.99 | 203.42 | 231.19 | 262.74 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -17.86 | -19.87 | -9.63 | -13.41 | -16.07 | -22.24 | -25.27 | -28.72 | -32.64 | -37.10 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -6.60 | -5.23 | -22.60 | -28.40 | -21.25 | -22.21 | -25.25 | -28.69 | -32.61 | -37.06 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -24.46 | -25.10 | -32.22 | -41.80 | -37.32 | -44.45 | -50.52 | -57.41 | -65.25 | -74.15 |
Weighted Average Cost Of Capital
| Share price | $ 8.71 |
|---|---|
| Beta | 0.622 |
| Diluted Shares Outstanding | 42.08 |
| Cost of Debt | |
| Tax Rate | 0.00 |
| After-tax Cost of Debt | 0.93% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 6.636 |
| Total Debt | 67.43 |
| Total Equity | 366.54 |
| Total Capital | 433.97 |
| Debt Weighting | 15.54 |
| Equity Weighting | 84.46 |
| 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 | 83.94 | 106.71 | 112.30 | 127.36 | 138.58 | 157.50 | 178.99 | 203.42 | 231.19 | 262.74 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -17.86 | -19.87 | -9.63 | -13.41 | -16.07 | -22.24 | -25.27 | -28.72 | -32.64 | -37.10 |
| Capital Expenditure | -6.60 | -5.23 | -22.60 | -28.40 | -21.25 | -22.21 | -25.25 | -28.69 | -32.61 | -37.06 |
| Free Cash Flow | -24.46 | -25.10 | -32.22 | -41.80 | -37.32 | -44.45 | -50.52 | -57.41 | -65.25 | -74.15 |
| WACC | ||||||||||
| PV LFCF | -42.03 | -45.17 | -48.55 | -52.17 | -56.07 | |||||
| SUM PV LFCF | -243.99 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 5.75 |
| Free cash flow (t + 1) | -75.64 |
| Terminal Value | -2,016.95 |
| Present Value of Terminal Value | -1,525.08 |
Intrinsic Value
| Enterprise Value | -1,769.08 |
|---|---|
| Net Debt | 52.14 |
| Equity Value | -1,821.22 |
| Shares Outstanding | 42.08 |
| Equity Value Per Share | -43.28 |