Discounted Cash Flow (DCF) Analysis Levered
BioCardia, Inc. (BCDA)
$1.77
0.00 (0.00%)
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 | 0.63 | 0.71 | 0.14 | 1.01 | 1.35 | 3.27 | 7.91 | 19.12 | 46.22 | 111.77 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -11.07 | -9.44 | -12.36 | -10.37 | -10.56 | -87.78 | -212.27 | -513.27 | -1,241.13 | -3,001.12 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.07 | -0.15 | -0.03 | -0.12 | -0.07 | -0.46 | -1.10 | -2.67 | -6.45 | -15.60 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -11.13 | -9.59 | -12.39 | -10.48 | -10.63 | -88.24 | -213.37 | -515.94 | -1,247.58 | -3,016.72 |
Weighted Average Cost Of Capital
| Share price | $ 1.77 |
|---|---|
| Beta | 1.016 |
| Diluted Shares Outstanding | 17.72 |
| Cost of Debt | |
| Tax Rate | 0.00 |
| After-tax Cost of Debt | 5.00% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.432 |
| Total Debt | 1.63 |
| Total Equity | 31.37 |
| Total Capital | 33 |
| Debt Weighting | 4.94 |
| Equity Weighting | 95.06 |
| 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 | 0.63 | 0.71 | 0.14 | 1.01 | 1.35 | 3.27 | 7.91 | 19.12 | 46.22 | 111.77 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -11.07 | -9.44 | -12.36 | -10.37 | -10.56 | -87.78 | -212.27 | -513.27 | -1,241.13 | -3,001.12 |
| Capital Expenditure | -0.07 | -0.15 | -0.03 | -0.12 | -0.07 | -0.46 | -1.10 | -2.67 | -6.45 | -15.60 |
| Free Cash Flow | -11.13 | -9.59 | -12.39 | -10.48 | -10.63 | -88.24 | -213.37 | -515.94 | -1,247.58 | -3,016.72 |
| WACC | ||||||||||
| PV LFCF | -81.51 | -182.05 | -406.63 | -908.23 | -2,028.60 | |||||
| SUM PV LFCF | -3,607.02 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.26 |
| Free cash flow (t + 1) | -3,077.06 |
| Terminal Value | -49,154.30 |
| Present Value of Terminal Value | -33,053.80 |
Intrinsic Value
| Enterprise Value | -36,660.81 |
|---|---|
| Net Debt | -5.73 |
| Equity Value | -36,655.08 |
| Shares Outstanding | 17.72 |
| Equity Value Per Share | -2,068.46 |