Discounted Cash Flow (DCF) Analysis Levered
DIRTT Environmental Solutions Ltd. (DRT.TO)
$0.66
-0.02 (-2.94%)
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 | 261.87 | 247.74 | 171.51 | 147.59 | 172.16 | 157.76 | 144.56 | 132.46 | 121.38 | 111.23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 11.73 | 13.36 | 12.48 | -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 | $ 0.66 |
|---|---|
| Beta | 1.388 |
| 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 | 9.959 |
| Total Debt | 98.86 |
| Total Equity | 58.03 |
| Total Capital | 156.89 |
| Debt Weighting | 63.01 |
| Equity Weighting | 36.99 |
| 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 | 261.87 | 247.74 | 171.51 | 147.59 | 172.16 | 157.76 | 144.56 | 132.46 | 121.38 | 111.23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 11.73 | 13.36 | 12.48 | -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 | -13.74 | -11.77 | -10.08 | -8.64 | -7.40 | |||||
| SUM PV LFCF | -72.30 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 6.97 |
| Free cash flow (t + 1) | -14.80 |
| Terminal Value | -297.81 |
| Present Value of Terminal Value | -212.63 |
Intrinsic Value
| Enterprise Value | -284.93 |
|---|---|
| Net Debt | 88.04 |
| Equity Value | -372.97 |
| Shares Outstanding | 87.92 |
| Equity Value Per Share | -4.24 |