Discounted Cash Flow (DCF) Analysis Levered
Biocept, Inc. (BIOC)
$2.18
+0.02 (+0.93%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 5.07 | 3.25 | 5.53 | 27.46 | 61.25 | 146.07 | 348.38 | 830.86 | 1,981.55 | 4,725.88 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -19.65 | -22.36 | -23.05 | -19.79 | 3.69 | -455.29 | -1,085.84 | -2,589.67 | -6,176.20 | -14,729.84 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -1.40 | -0.15 | -0.74 | -0.87 | -1.57 | -14.93 | -35.62 | -84.94 | -202.58 | -483.14 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -21.05 | -22.50 | -23.78 | -20.65 | 2.12 | -470.23 | -1,121.46 | -2,674.61 | -6,378.78 | -15,212.97 |
Weighted Average Cost Of Capital
| Share price | $ 2.18 |
|---|---|
| Beta | 0.920 |
| Diluted Shares Outstanding | 0.49 |
| Cost of Debt | |
| Tax Rate | -4.63 |
| After-tax Cost of Debt | 2.58% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.043 |
| Total Debt | 11.24 |
| Total Equity | 1.07 |
| Total Capital | 12.32 |
| Debt Weighting | 91.28 |
| Equity Weighting | 8.72 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 5.07 | 3.25 | 5.53 | 27.46 | 61.25 | 146.07 | 348.38 | 830.86 | 1,981.55 | 4,725.88 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -19.65 | -22.36 | -23.05 | -19.79 | 3.69 | -455.29 | -1,085.84 | -2,589.67 | -6,176.20 | -14,729.84 |
| Capital Expenditure | -1.40 | -0.15 | -0.74 | -0.87 | -1.57 | -14.93 | -35.62 | -84.94 | -202.58 | -483.14 |
| Free Cash Flow | -21.05 | -22.50 | -23.78 | -20.65 | 2.12 | -470.23 | -1,121.46 | -2,674.61 | -6,378.78 | -15,212.97 |
| WACC | ||||||||||
| PV LFCF | -416.82 | -964.57 | -2,232.13 | -5,165.43 | -11,953.44 | |||||
| SUM PV LFCF | -22,694.46 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 3.06 |
| Free cash flow (t + 1) | -15,517.23 |
| Terminal Value | -1,463,889.99 |
| Present Value of Terminal Value | -1,259,092.82 |
Intrinsic Value
| Enterprise Value | -1,281,787.28 |
|---|---|
| Net Debt | -17.62 |
| Equity Value | -1,281,769.66 |
| Shares Outstanding | 0.49 |
| Equity Value Per Share | -2,602,436.21 |