Discounted Cash Flow (DCF) Analysis Levered
Cogent Biosciences, Inc. (COGT)
$12.8
+0.08 (+0.63%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 9.73 | 22.50 | 7.87 | 10.47 | 13.94 | 18.54 | 24.67 | 32.83 | 43.69 | 58.13 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -32.49 | -41.51 | -35.85 | -58.76 | -118.64 | -88.49 | -117.75 | -156.68 | -208.48 | -277.40 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.55 | -0.03 | -0.23 | -0.30 | -0.40 | -0.54 | -0.71 | -0.95 | -1.26 | -1.68 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -33.04 | -41.55 | -36.08 | -59.07 | -119.04 | -89.03 | -118.46 | -157.63 | -209.74 | -279.09 |
Weighted Average Cost Of Capital
| Share price | $ 12.8 |
|---|---|
| Beta | -0.398 |
| Diluted Shares Outstanding | 58.74 |
| Cost of Debt | |
| Tax Rate | 0.00 |
| After-tax Cost of Debt | 20.30% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 1.816 |
| Total Debt | 19.65 |
| Total Equity | 751.87 |
| Total Capital | 771.52 |
| Debt Weighting | 2.55 |
| Equity Weighting | 97.45 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 9.73 | 22.50 | 7.87 | 10.47 | 13.94 | 18.54 | 24.67 | 32.83 | 43.69 | 58.13 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -32.49 | -41.51 | -35.85 | -58.76 | -118.64 | -88.49 | -117.75 | -156.68 | -208.48 | -277.40 |
| Capital Expenditure | -0.55 | -0.03 | -0.23 | -0.30 | -0.40 | -0.54 | -0.71 | -0.95 | -1.26 | -1.68 |
| Free Cash Flow | -33.04 | -41.55 | -36.08 | -59.07 | -119.04 | -89.03 | -118.46 | -157.63 | -209.74 | -279.09 |
| WACC | ||||||||||
| PV LFCF | -60.42 | -119.04 | -87.04 | -113.22 | -147.28 | -191.58 | -249.21 | |||
| SUM PV LFCF | -788.33 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 2.29 |
| Free cash flow (t + 1) | -284.67 |
| Terminal Value | -98,161.43 |
| Present Value of Terminal Value | -87,654.65 |
Intrinsic Value
| Enterprise Value | -88,442.98 |
|---|---|
| Net Debt | -120.24 |
| Equity Value | -88,322.75 |
| Shares Outstanding | 58.74 |
| Equity Value Per Share | -1,503.63 |