Discounted Cash Flow (DCF) Analysis Levered

Dolphin Entertainment, Inc. (DLPN)

$3.61

-0.15 (-3.99%)
All numbers are in Millions, Currency in USD
Stock DCF: 2.10 | 3.61 | overvalue

Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 22.4122.552524.0535.7340.7546.4853.0160.4668.96
Revenue (%)
Operating Cash Flow 8.36-0.62-2.91-1.51-1.321.061.201.371.571.79
Operating Cash Flow (%)
Capital Expenditure -0.23-0.09-0.10-0.08-0.19-0.22-0.25-0.28-0.32-0.37
Capital Expenditure (%)
Free Cash Flow 8.13-0.71-3.01-1.58-1.510.840.951.091.241.42

Weighted Average Cost Of Capital

Share price $ 3.61
Beta 2.284
Diluted Shares Outstanding 7.61
Cost of Debt
Tax Rate -0.58
After-tax Cost of Debt -75.15%
Risk-Free Rate
Market Risk Premium
Cost of Equity 14.480
Total Debt -1.04
Total Equity 27.49
Total Capital 26.44
Debt Weighting -3.95
Equity Weighting 103.95
Wacc

Build Up Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 22.4122.552524.0535.7340.7546.4853.0160.4668.96
Operating Cash Flow 8.36-0.62-2.91-1.51-1.321.061.201.371.571.79
Capital Expenditure -0.23-0.09-0.10-0.08-0.19-0.22-0.25-0.28-0.32-0.37
Free Cash Flow 8.13-0.71-3.01-1.58-1.510.840.951.091.241.42
WACC
PV LFCF 0.710.690.660.640.62
SUM PV LFCF 3.32

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 18.02
Free cash flow (t + 1) 1.44
Terminal Value 9.02
Present Value of Terminal Value 3.94

Intrinsic Value

Enterprise Value 7.26
Net Debt -8.73
Equity Value 15.99
Shares Outstanding 7.61
Equity Value Per Share 2.10