Discounted Cash Flow (DCF) Analysis Levered
Cue Biopharma, Inc. (CUE)
$2.3
-0.02 (-0.86%)
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 | 1.14 | 3.46 | 3.15 | 14.94 | 1.25 | 2.73 | 5.97 | 13.07 | 28.63 | 62.68 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -26.41 | -30.80 | -32.49 | -38.84 | -41.81 | -42.81 | -93.73 | -205.24 | -449.41 | -984.06 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -1.85 | -0.05 | -0.60 | -0.91 | -0.17 | -1.10 | -2.42 | -5.29 | -11.58 | -25.36 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -28.27 | -30.84 | -33.09 | -39.75 | -41.98 | -43.91 | -96.15 | -210.53 | -460.99 | -1,009.43 |
Weighted Average Cost Of Capital
| Share price | $ 2.3 |
|---|---|
| Beta | 2.017 |
| Diluted Shares Outstanding | 35.65 |
| Cost of Debt | |
| Tax Rate | 0.40 |
| After-tax Cost of Debt | 3.69% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 14.095 |
| Total Debt | 19.32 |
| Total Equity | 81.99 |
| Total Capital | 101.31 |
| Debt Weighting | 19.07 |
| Equity Weighting | 80.93 |
| 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 | 1.14 | 3.46 | 3.15 | 14.94 | 1.25 | 2.73 | 5.97 | 13.07 | 28.63 | 62.68 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -26.41 | -30.80 | -32.49 | -38.84 | -41.81 | -42.81 | -93.73 | -205.24 | -449.41 | -984.06 |
| Capital Expenditure | -1.85 | -0.05 | -0.60 | -0.91 | -0.17 | -1.10 | -2.42 | -5.29 | -11.58 | -25.36 |
| Free Cash Flow | -28.27 | -30.84 | -33.09 | -39.75 | -41.98 | -43.91 | -96.15 | -210.53 | -460.99 | -1,009.43 |
| WACC | ||||||||||
| PV LFCF | -39.17 | -76.50 | -149.41 | -291.82 | -569.97 | |||||
| SUM PV LFCF | -1,126.87 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 12.11 |
| Free cash flow (t + 1) | -1,029.62 |
| Terminal Value | -10,184.14 |
| Present Value of Terminal Value | -5,750.46 |
Intrinsic Value
| Enterprise Value | -6,877.32 |
|---|---|
| Net Debt | -32.30 |
| Equity Value | -6,845.03 |
| Shares Outstanding | 35.65 |
| Equity Value Per Share | -192.01 |