Discounted Cash Flow (DCF) Analysis Levered
Dada Nexus Limited (DADA)
$3.27
+0.19 (+6.17%)
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 | 307.52 | 495.95 | 918.40 | 1,098.60 | 1,498.82 | 2,257.60 | 3,400.53 | 5,122.08 | 7,715.17 | 11,621.04 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -1,819.36 | -1,297.84 | -1,108.21 | -2,657.58 | -945.44 | -5,774.75 | -8,698.26 | -13,101.82 | -19,734.72 | -29,725.58 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -32.86 | -31.76 | -23.89 | -16.88 | -3.74 | -96.98 | -146.07 | -220.02 | -331.40 | -499.18 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -1,852.22 | -1,329.60 | -1,132.10 | -2,674.46 | -949.18 | -5,871.72 | -8,844.33 | -13,321.84 | -20,066.12 | -30,224.76 |
Weighted Average Cost Of Capital
| Share price | $ 3.27 |
|---|---|
| Beta | 1.720 |
| Diluted Shares Outstanding | 253.82 |
| Cost of Debt | |
| Tax Rate | 0.24 |
| After-tax Cost of Debt | 7.74% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 12.274 |
| Total Debt | 22.57 |
| Total Equity | 829.98 |
| Total Capital | 852.55 |
| Debt Weighting | 2.65 |
| Equity Weighting | 97.35 |
| 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 | 307.52 | 495.95 | 918.40 | 1,098.60 | 1,498.82 | 2,257.60 | 3,400.53 | 5,122.08 | 7,715.17 | 11,621.04 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -1,819.36 | -1,297.84 | -1,108.21 | -2,657.58 | -945.44 | -5,774.75 | -8,698.26 | -13,101.82 | -19,734.72 | -29,725.58 |
| Capital Expenditure | -32.86 | -31.76 | -23.89 | -16.88 | -3.74 | -96.98 | -146.07 | -220.02 | -331.40 | -499.18 |
| Free Cash Flow | -1,852.22 | -1,329.60 | -1,132.10 | -2,674.46 | -949.18 | -5,871.72 | -8,844.33 | -13,321.84 | -20,066.12 | -30,224.76 |
| WACC | ||||||||||
| PV LFCF | -5,235.60 | -7,031.80 | -9,444.22 | -12,684.30 | -17,035.95 | |||||
| SUM PV LFCF | -51,431.87 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 12.15 |
| Free cash flow (t + 1) | -30,829.25 |
| Terminal Value | -303,736.48 |
| Present Value of Terminal Value | -171,198.74 |
Intrinsic Value
| Enterprise Value | -222,630.61 |
|---|---|
| Net Debt | -174.87 |
| Equity Value | -222,455.74 |
| Shares Outstanding | 253.82 |
| Equity Value Per Share | -876.44 |