Discounted Cash Flow (DCF) Analysis Levered

DIRTT Environmental Solutions Ltd. (DRT.TO)

$0.46

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: -4.44 | 0.46 | overvalue

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 261.87247.74171.51147.59172.16157.76144.56132.46121.38111.23
Revenue (%)
Operating Cash Flow 11.7313.3612.48-31.21-44.26-9.37-8.59-7.87-7.21-6.61
Operating Cash Flow (%)
Capital Expenditure -14.01-16.15-20.11-14.12-4.07-11.21-10.27-9.41-8.63-7.90
Capital Expenditure (%)
Free Cash Flow -2.28-2.79-7.63-45.33-48.33-20.58-18.86-17.28-15.84-14.51

Weighted Average Cost Of Capital

Share price $ 0.46
Beta 1.365
Diluted Shares Outstanding 87.92
Cost of Debt
Tax Rate -0.04
After-tax Cost of Debt 5.22%
Risk-Free Rate
Market Risk Premium
Cost of Equity 10.227
Total Debt 98.86
Total Equity 40.44
Total Capital 139.30
Debt Weighting 70.97
Equity Weighting 29.03
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 261.87247.74171.51147.59172.16157.76144.56132.46121.38111.23
Operating Cash Flow 11.7313.3612.48-31.21-44.26-9.37-8.59-7.87-7.21-6.61
Capital Expenditure -14.01-16.15-20.11-14.12-4.07-11.21-10.27-9.41-8.63-7.90
Free Cash Flow -2.28-2.79-7.63-45.33-48.33-20.58-18.86-17.28-15.84-14.51
WACC
PV LFCF -16.96-14.57-12.51-10.75-9.23
SUM PV LFCF -72.85

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.67
Free cash flow (t + 1) -14.80
Terminal Value -316.94
Present Value of Terminal Value -229.49

Intrinsic Value

Enterprise Value -302.34
Net Debt 88.04
Equity Value -390.38
Shares Outstanding 87.92
Equity Value Per Share -4.44