Discounted Cash Flow (DCF) Analysis Levered
Cutera, Inc. (CUTR)
$25.89
-1.27 (-4.68%)
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 | 162.72 | 181.71 | 147.68 | 231.27 | 252.40 | 289.43 | 331.88 | 380.57 | 436.40 | 500.42 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 0.31 | -2.22 | -16.93 | 1.24 | -0.07 | -6.94 | -7.96 | -9.13 | -10.46 | -12 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -1.49 | -0.99 | -1.28 | -1.02 | -0.02 | -1.61 | -1.84 | -2.11 | -2.42 | -2.78 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -1.18 | -3.21 | -18.21 | 0.22 | -0.09 | -8.55 | -9.80 | -11.24 | -12.89 | -14.78 |
Weighted Average Cost Of Capital
| Share price | $ 25.89 |
|---|---|
| Beta | 1.582 |
| Diluted Shares Outstanding | 18.75 |
| Cost of Debt | |
| Tax Rate | -2.03 |
| After-tax Cost of Debt | 0.60% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 10.965 |
| Total Debt | 430.62 |
| Total Equity | 485.36 |
| Total Capital | 915.98 |
| Debt Weighting | 47.01 |
| Equity Weighting | 52.99 |
| 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 | 162.72 | 181.71 | 147.68 | 231.27 | 252.40 | 289.43 | 331.88 | 380.57 | 436.40 | 500.42 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 0.31 | -2.22 | -16.93 | 1.24 | -0.07 | -6.94 | -7.96 | -9.13 | -10.46 | -12 |
| Capital Expenditure | -1.49 | -0.99 | -1.28 | -1.02 | -0.02 | -1.61 | -1.84 | -2.11 | -2.42 | -2.78 |
| Free Cash Flow | -1.18 | -3.21 | -18.21 | 0.22 | -0.09 | -8.55 | -9.80 | -11.24 | -12.89 | -14.78 |
| WACC | ||||||||||
| PV LFCF | -6.36 | -6.87 | -7.43 | -8.03 | -8.68 | |||||
| SUM PV LFCF | -47.34 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 6.09 |
| Free cash flow (t + 1) | -15.07 |
| Terminal Value | -368.50 |
| Present Value of Terminal Value | -274.19 |
Intrinsic Value
| Enterprise Value | -321.53 |
|---|---|
| Net Debt | 284.70 |
| Equity Value | -606.23 |
| Shares Outstanding | 18.75 |
| Equity Value Per Share | -32.34 |