Discounted Cash Flow (DCF) Analysis Levered
Coherus BioSciences, Inc. (CHRS)
$2.3
+0.17 (+7.98%)
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 | 1.56 | 356.07 | 475.82 | 326.55 | 211.04 | 12,214.39 | 706,926.85 | 40,914,501.57 | 2,367,991,038.87 | 137,051,200,541.18 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -159.27 | 28.35 | 154.14 | -37.43 | -241.12 | -252,128.46 | -14,592,330.67 | -844,554,056.52 | -48,879,892,477.78 | -2,829,000,547,910.55 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.79 | -12.90 | -7.06 | -1.29 | -2.04 | -1,396.66 | -80,833.92 | -4,678,390.37 | -270,769,190.37 | -15,671,192,163.02 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -160.06 | 15.46 | 147.09 | -38.72 | -243.16 | -253,525.12 | -14,673,164.60 | -849,232,446.89 | -49,150,661,668.15 | -2,844,671,740,073.57 |
Weighted Average Cost Of Capital
| Share price | $ 2.3 |
|---|---|
| Beta | 0.865 |
| Diluted Shares Outstanding | 77.63 |
| Cost of Debt | |
| Tax Rate | -11.95 |
| After-tax Cost of Debt | 6.89% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.239 |
| Total Debt | 471.06 |
| Total Equity | 178.55 |
| Total Capital | 649.61 |
| Debt Weighting | 72.51 |
| Equity Weighting | 27.49 |
| 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 | 1.56 | 356.07 | 475.82 | 326.55 | 211.04 | 12,214.39 | 706,926.85 | 40,914,501.57 | 2,367,991,038.87 | 137,051,200,541.18 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -159.27 | 28.35 | 154.14 | -37.43 | -241.12 | -252,128.46 | -14,592,330.67 | -844,554,056.52 | -48,879,892,477.78 | -2,829,000,547,910.55 |
| Capital Expenditure | -0.79 | -12.90 | -7.06 | -1.29 | -2.04 | -1,396.66 | -80,833.92 | -4,678,390.37 | -270,769,190.37 | -15,671,192,163.02 |
| Free Cash Flow | -160.06 | 15.46 | 147.09 | -38.72 | -243.16 | -253,525.12 | -14,673,164.60 | -849,232,446.89 | -49,150,661,668.15 | -2,844,671,740,073.57 |
| WACC | ||||||||||
| PV LFCF | -236,365.02 | -12,754,052.61 | -688,197,675.13 | -37,134,552,798.34 | -2,003,748,430,666.27 | |||||
| SUM PV LFCF | -2,041,584,171,557.37 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.26 |
| Free cash flow (t + 1) | -2,901,565,174,875.04 |
| Terminal Value | -55,162,836,024,240.30 |
| Present Value of Terminal Value | -38,855,958,161,208.96 |
Intrinsic Value
| Enterprise Value | -40,897,542,332,766.33 |
|---|---|
| Net Debt | 407.51 |
| Equity Value | -40,897,542,333,173.84 |
| Shares Outstanding | 77.63 |
| Equity Value Per Share | -526,826,378,934.00 |