Discounted Cash Flow (DCF) Analysis Levered
China Liberal Education Holdings Li... (CLEU)
$0.2265
-0.04 (-16.11%)
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 | 4.81 | 5.26 | 5.02 | 3.91 | 11.60 | 16.81 | 24.35 | 35.28 | 51.11 | 74.05 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 0.26 | -0.34 | 1.26 | -1.41 | 0.42 | -0.28 | -0.41 | -0.59 | -0.86 | -1.24 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.08 | -0.02 | -0.02 | -0 | -0.61 | -0.27 | -0.38 | -0.56 | -0.81 | -1.17 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 0.18 | -0.36 | 1.24 | -1.42 | -0.19 | -0.55 | -0.79 | -1.15 | -1.66 | -2.41 |
Weighted Average Cost Of Capital
| Share price | $ 0.2,265 |
|---|---|
| Beta | 2.041 |
| Diluted Shares Outstanding | 23.69 |
| Cost of Debt | |
| Tax Rate | -37.44 |
| After-tax Cost of Debt | 4.25% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 13.889 |
| Total Debt | 1.01 |
| Total Equity | 5.37 |
| Total Capital | 6.37 |
| Debt Weighting | 15.81 |
| Equity Weighting | 84.19 |
| 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 | 4.81 | 5.26 | 5.02 | 3.91 | 11.60 | 16.81 | 24.35 | 35.28 | 51.11 | 74.05 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 0.26 | -0.34 | 1.26 | -1.41 | 0.42 | -0.28 | -0.41 | -0.59 | -0.86 | -1.24 |
| Capital Expenditure | -0.08 | -0.02 | -0.02 | -0 | -0.61 | -0.27 | -0.38 | -0.56 | -0.81 | -1.17 |
| Free Cash Flow | 0.18 | -0.36 | 1.24 | -1.42 | -0.19 | -0.55 | -0.79 | -1.15 | -1.66 | -2.41 |
| WACC | ||||||||||
| PV LFCF | -0.49 | -0.63 | -0.81 | -1.04 | -1.34 | |||||
| SUM PV LFCF | -4.31 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 12.37 |
| Free cash flow (t + 1) | -2.46 |
| Terminal Value | -23.69 |
| Present Value of Terminal Value | -13.22 |
Intrinsic Value
| Enterprise Value | -17.53 |
|---|---|
| Net Debt | -12.64 |
| Equity Value | -4.89 |
| Shares Outstanding | 23.69 |
| Equity Value Per Share | -0.21 |