Discounted Cash Flow (DCF) Analysis Levered
BioCryst Pharmaceuticals, Inc. (BCRX)
$8.12
+0.18 (+2.27%)
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 | 20.65 | 48.83 | 17.81 | 157.17 | 270.83 | 898.89 | 2,983.48 | 9,902.37 | 32,866.61 | 109,086.41 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -92.56 | -89.58 | -137.22 | -142.16 | -161.85 | -2,790.52 | -9,261.92 | -30,740.92 | -102,031.11 | -338,647.89 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.37 | -0.34 | -0.51 | -2.38 | -1.35 | -13.26 | -44.02 | -146.09 | -484.88 | -1,609.35 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -92.93 | -89.93 | -137.73 | -144.54 | -163.20 | -2,803.78 | -9,305.94 | -30,887.01 | -102,516 | -340,257.24 |
Weighted Average Cost Of Capital
| Share price | $ 8.12 |
|---|---|
| Beta | 2.032 |
| Diluted Shares Outstanding | 179.12 |
| Cost of Debt | |
| Tax Rate | -1.12 |
| After-tax Cost of Debt | 1,707.31% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 12.995 |
| Total Debt | 5.80 |
| Total Equity | 1,454.43 |
| Total Capital | 1,460.23 |
| Debt Weighting | 0.40 |
| Equity Weighting | 99.60 |
| 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 | 20.65 | 48.83 | 17.81 | 157.17 | 270.83 | 898.89 | 2,983.48 | 9,902.37 | 32,866.61 | 109,086.41 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -92.56 | -89.58 | -137.22 | -142.16 | -161.85 | -2,790.52 | -9,261.92 | -30,740.92 | -102,031.11 | -338,647.89 |
| Capital Expenditure | -0.37 | -0.34 | -0.51 | -2.38 | -1.35 | -13.26 | -44.02 | -146.09 | -484.88 | -1,609.35 |
| Free Cash Flow | -92.93 | -89.93 | -137.73 | -144.54 | -163.20 | -2,803.78 | -9,305.94 | -30,887.01 | -102,516 | -340,257.24 |
| WACC | ||||||||||
| PV LFCF | -2,341.75 | -6,491.64 | -17,995.63 | -49,886.12 | -138,290.54 | |||||
| SUM PV LFCF | -215,005.67 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 19.73 |
| Free cash flow (t + 1) | -347,062.39 |
| Terminal Value | -1,957,486.66 |
| Present Value of Terminal Value | -795,580.08 |
Intrinsic Value
| Enterprise Value | -1,010,585.75 |
|---|---|
| Net Debt | -298.96 |
| Equity Value | -1,010,286.79 |
| Shares Outstanding | 179.12 |
| Equity Value Per Share | -5,640.37 |