Discounted Cash Flow (DCF) Analysis Levered
CTI BioPharma Corp. (CTIC)
$5.44
+0.15 (+2.84%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 25.15 | 26.29 | 3.34 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -39.30 | -39.82 | -27.82 | -42.20 | -84.89 | -7.94 | -3.11 | -1.22 | -0.48 | -0.19 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.05 | -0.03 | -0.01 | -0 | -0 | -0 | -0 | -0 | -0 | -0 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -39.34 | -39.86 | -27.83 | -42.21 | -84.89 | -7.94 | -3.11 | -1.22 | -0.48 | -0.19 |
Weighted Average Cost Of Capital
| Share price | $ 5.44 |
|---|---|
| Beta | 0.986 |
| Diluted Shares Outstanding | 90.12 |
| Cost of Debt | |
| Tax Rate | 0.00 |
| After-tax Cost of Debt | 5.10% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 7.396 |
| Total Debt | 47.38 |
| Total Equity | 490.24 |
| Total Capital | 537.62 |
| Debt Weighting | 8.81 |
| Equity Weighting | 91.19 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 25.15 | 26.29 | 3.34 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -39.30 | -39.82 | -27.82 | -42.20 | -84.89 | -7.94 | -3.11 | -1.22 | -0.48 | -0.19 |
| Capital Expenditure | -0.05 | -0.03 | -0.01 | -0 | -0 | -0 | -0 | -0 | -0 | -0 |
| Free Cash Flow | -39.34 | -39.86 | -27.83 | -42.21 | -84.89 | -7.94 | -3.11 | -1.22 | -0.48 | -0.19 |
| WACC | ||||||||||
| PV LFCF | -84.89 | -7.41 | -2.70 | -0.99 | -0.36 | -0.13 | ||||
| SUM PV LFCF | -11.59 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.19 |
| Free cash flow (t + 1) | -0.19 |
| Terminal Value | -3.66 |
| Present Value of Terminal Value | -2.59 |
Intrinsic Value
| Enterprise Value | -14.17 |
|---|---|
| Net Debt | -18.07 |
| Equity Value | 3.89 |
| Shares Outstanding | 90.12 |
| Equity Value Per Share | 0.04 |