Discounted Cash Flow (DCF) Analysis Levered
ClearOne, Inc. (CLRO)
$0.817
+0.00 (+0.05%)
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 | 28.16 | 25.04 | 29.07 | 28.97 | 25.21 | 24.68 | 24.17 | 23.67 | 23.17 | 22.69 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -6.62 | -4.66 | -0.98 | -4.39 | -4.18 | -3.81 | -3.73 | -3.66 | -3.58 | -3.51 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -5.14 | -5.37 | -7.22 | -8.35 | -0.93 | -4.79 | -4.69 | -4.59 | -4.49 | -4.40 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -11.76 | -10.02 | -8.20 | -12.74 | -5.10 | -8.60 | -8.42 | -8.25 | -8.07 | -7.91 |
Weighted Average Cost Of Capital
| Share price | $ 0.817 |
|---|---|
| Beta | 0.869 |
| Diluted Shares Outstanding | 25.19 |
| Cost of Debt | |
| Tax Rate | 25.14 |
| After-tax Cost of Debt | 7.44% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.212 |
| Total Debt | 4.22 |
| Total Equity | 20.58 |
| Total Capital | 24.80 |
| Debt Weighting | 17.03 |
| Equity Weighting | 82.97 |
| 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 | 28.16 | 25.04 | 29.07 | 28.97 | 25.21 | 24.68 | 24.17 | 23.67 | 23.17 | 22.69 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -6.62 | -4.66 | -0.98 | -4.39 | -4.18 | -3.81 | -3.73 | -3.66 | -3.58 | -3.51 |
| Capital Expenditure | -5.14 | -5.37 | -7.22 | -8.35 | -0.93 | -4.79 | -4.69 | -4.59 | -4.49 | -4.40 |
| Free Cash Flow | -11.76 | -10.02 | -8.20 | -12.74 | -5.10 | -8.60 | -8.42 | -8.25 | -8.07 | -7.91 |
| WACC | ||||||||||
| PV LFCF | -7.96 | -7.21 | -6.53 | -5.92 | -5.36 | |||||
| SUM PV LFCF | -32.98 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.08 |
| Free cash flow (t + 1) | -8.06 |
| Terminal Value | -132.64 |
| Present Value of Terminal Value | -89.94 |
Intrinsic Value
| Enterprise Value | -122.92 |
|---|---|
| Net Debt | 3.24 |
| Equity Value | -126.16 |
| Shares Outstanding | 25.19 |
| Equity Value Per Share | -5.01 |