Discounted Cash Flow (DCF) Analysis Levered
Axonics, Inc. (AXNX)
$50.85
+1.68 (+3.42%)
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 | 0.71 | 13.82 | 111.54 | 180.29 | 273.70 | 2,104.26 | 16,177.77 | 124,376.74 | 956,223.83 | 7,351,567.73 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -31.37 | -83.45 | -83.74 | -47.31 | 3.19 | -21,636.27 | -166,342.34 | -1,278,860.61 | -9,832,039.37 | -75,589,941.08 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -1.23 | -1.34 | -2.94 | -2.26 | -2.22 | -791.54 | -6,085.46 | -46,785.79 | -359,694.97 | -2,765,379.68 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -32.60 | -84.79 | -86.68 | -49.57 | 0.97 | -22,427.81 | -172,427.80 | -1,325,646.40 | -10,191,734.34 | -78,355,320.77 |
Weighted Average Cost Of Capital
| Share price | $ 50.85 |
|---|---|
| Beta | 0.387 |
| Diluted Shares Outstanding | 46.68 |
| Cost of Debt | |
| Tax Rate | 4.20 |
| After-tax Cost of Debt | 5.59% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 5.612 |
| Total Debt | 41.72 |
| Total Equity | 2,373.91 |
| Total Capital | 2,415.62 |
| Debt Weighting | 1.73 |
| Equity Weighting | 98.27 |
| 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 | 0.71 | 13.82 | 111.54 | 180.29 | 273.70 | 2,104.26 | 16,177.77 | 124,376.74 | 956,223.83 | 7,351,567.73 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -31.37 | -83.45 | -83.74 | -47.31 | 3.19 | -21,636.27 | -166,342.34 | -1,278,860.61 | -9,832,039.37 | -75,589,941.08 |
| Capital Expenditure | -1.23 | -1.34 | -2.94 | -2.26 | -2.22 | -791.54 | -6,085.46 | -46,785.79 | -359,694.97 | -2,765,379.68 |
| Free Cash Flow | -32.60 | -84.79 | -86.68 | -49.57 | 0.97 | -22,427.81 | -172,427.80 | -1,325,646.40 | -10,191,734.34 | -78,355,320.77 |
| WACC | ||||||||||
| PV LFCF | -21,236.45 | -154,595.63 | -1,125,414.66 | -8,192,716.45 | -59,640,775.20 | |||||
| SUM PV LFCF | -69,134,738.40 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 5.61 |
| Free cash flow (t + 1) | -79,922,427.18 |
| Terminal Value | -2,213,917,650.46 |
| Present Value of Terminal Value | -1,685,141,016.85 |
Intrinsic Value
| Enterprise Value | -1,754,275,755.25 |
|---|---|
| Net Debt | -197.13 |
| Equity Value | -1,754,275,558.12 |
| Shares Outstanding | 46.68 |
| Equity Value Per Share | -37,577,276.93 |