Discounted Cash Flow (DCF) Analysis Levered
China Education Resources Inc. (CHN.V)
$0.02
0.00 (0.00%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2016 Actual | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected |
| Revenue | 13.42 | 11.83 | 11.86 | 9.39 | 7.43 | 6.44 | 5.58 | 4.83 | 4.19 | 3.63 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 1.75 | -1.43 | 0.69 | -1.63 | 0.23 | -0.10 | -0.08 | -0.07 | -0.06 | -0.05 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.01 | -0.05 | -0.01 | -0 | -0.01 | -0.01 | -0.01 | -0.01 | -0.01 | -0.01 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 1.73 | -1.49 | 0.67 | -1.63 | 0.22 | -0.11 | -0.09 | -0.08 | -0.07 | -0.06 |
Weighted Average Cost Of Capital
| Share price | $ 0.02 |
|---|---|
| Beta | 0.000 |
| Diluted Shares Outstanding | 47.36 |
| Cost of Debt | |
| Tax Rate | 46.48 |
| After-tax Cost of Debt | 2.26% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 3.500 |
| Total Debt | 1.21 |
| Total Equity | 0.95 |
| Total Capital | 2.16 |
| Debt Weighting | 56.05 |
| Equity Weighting | 43.95 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2016 Actual | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected |
| Revenue | 13.42 | 11.83 | 11.86 | 9.39 | 7.43 | 6.44 | 5.58 | 4.83 | 4.19 | 3.63 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 1.75 | -1.43 | 0.69 | -1.63 | 0.23 | -0.10 | -0.08 | -0.07 | -0.06 | -0.05 |
| Capital Expenditure | -0.01 | -0.05 | -0.01 | -0 | -0.01 | -0.01 | -0.01 | -0.01 | -0.01 | -0.01 |
| Free Cash Flow | 1.73 | -1.49 | 0.67 | -1.63 | 0.22 | -0.11 | -0.09 | -0.08 | -0.07 | -0.06 |
| WACC | ||||||||||
| PV LFCF | -0.10 | -0.09 | -0.07 | -0.06 | -0.05 | |||||
| SUM PV LFCF | -0.38 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 2.81 |
| Free cash flow (t + 1) | -0.06 |
| Terminal Value | -7.57 |
| Present Value of Terminal Value | -6.59 |
Intrinsic Value
| Enterprise Value | -6.97 |
|---|---|
| Net Debt | -1.20 |
| Equity Value | -5.77 |
| Shares Outstanding | 47.36 |
| Equity Value Per Share | -0.12 |