Discounted Cash Flow (DCF) Analysis Levered
Biomerica, Inc. (BMRA)
$1.29
+0.03 (+2.38%)
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 | 5.56 | 5.20 | 6.69 | 7.20 | 18.87 | 27.92 | 41.32 | 61.13 | 90.46 | 133.84 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -1.17 | -2.24 | -4.30 | -5.25 | -0.48 | -11.39 | -16.85 | -24.94 | -36.90 | -54.60 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.13 | -0.17 | -0.12 | -0.30 | -0.17 | -0.69 | -1.03 | -1.52 | -2.25 | -3.32 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -1.30 | -2.42 | -4.42 | -5.55 | -0.65 | -12.08 | -17.88 | -26.46 | -39.15 | -57.92 |
Weighted Average Cost Of Capital
| Share price | $ 1.29 |
|---|---|
| Beta | -0.626 |
| Diluted Shares Outstanding | 12.67 |
| Cost of Debt | |
| Tax Rate | -0.53 |
| After-tax Cost of Debt | 1.93% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 0.737 |
| Total Debt | 1.38 |
| Total Equity | 16.35 |
| Total Capital | 17.73 |
| Debt Weighting | 7.78 |
| Equity Weighting | 92.22 |
| 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 | 5.56 | 5.20 | 6.69 | 7.20 | 18.87 | 27.92 | 41.32 | 61.13 | 90.46 | 133.84 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -1.17 | -2.24 | -4.30 | -5.25 | -0.48 | -11.39 | -16.85 | -24.94 | -36.90 | -54.60 |
| Capital Expenditure | -0.13 | -0.17 | -0.12 | -0.30 | -0.17 | -0.69 | -1.03 | -1.52 | -2.25 | -3.32 |
| Free Cash Flow | -1.30 | -2.42 | -4.42 | -5.55 | -0.65 | -12.08 | -17.88 | -26.46 | -39.15 | -57.92 |
| WACC | ||||||||||
| PV LFCF | -11.98 | -17.59 | -25.81 | -37.87 | -55.58 | |||||
| SUM PV LFCF | -148.83 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 0.83 |
| Free cash flow (t + 1) | -59.08 |
| Terminal Value | 5,049.61 |
| Present Value of Terminal Value | 4,845.17 |
Intrinsic Value
| Enterprise Value | 4,696.34 |
|---|---|
| Net Debt | -4.54 |
| Equity Value | 4,700.88 |
| Shares Outstanding | 12.67 |
| Equity Value Per Share | 370.93 |