Discounted Cash Flow (DCF) Analysis Levered
Editas Medicine, Inc. (EDIT)
$7.135
+0.08 (+1.13%)
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 | 31.94 | 20.53 | 90.73 | 25.54 | 19.71 | 30.14 | 46.07 | 70.44 | 107.69 | 164.64 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -45.71 | -40.67 | -179.84 | -163.80 | -177.35 | -125.39 | -191.70 | -293.08 | -448.07 | -685.03 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -4.75 | -6.17 | -7.16 | -7.98 | -4.12 | -6.32 | -9.67 | -14.78 | -22.60 | -34.55 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -50.46 | -46.84 | -187.01 | -171.78 | -181.47 | -131.71 | -201.37 | -307.86 | -470.67 | -719.58 |
Weighted Average Cost Of Capital
| Share price | $ 7.135 |
|---|---|
| Beta | 1.787 |
| Diluted Shares Outstanding | 68.66 |
| Cost of Debt | |
| Tax Rate | 7.29 |
| After-tax Cost of Debt | 8.91% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 13.062 |
| Total Debt | 43.95 |
| Total Equity | 489.92 |
| Total Capital | 533.87 |
| Debt Weighting | 8.23 |
| Equity Weighting | 91.77 |
| 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 | 31.94 | 20.53 | 90.73 | 25.54 | 19.71 | 30.14 | 46.07 | 70.44 | 107.69 | 164.64 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -45.71 | -40.67 | -179.84 | -163.80 | -177.35 | -125.39 | -191.70 | -293.08 | -448.07 | -685.03 |
| Capital Expenditure | -4.75 | -6.17 | -7.16 | -7.98 | -4.12 | -6.32 | -9.67 | -14.78 | -22.60 | -34.55 |
| Free Cash Flow | -50.46 | -46.84 | -187.01 | -171.78 | -181.47 | -131.71 | -201.37 | -307.86 | -470.67 | -719.58 |
| WACC | ||||||||||
| PV LFCF | -116.85 | -158.49 | -214.96 | -291.55 | -395.43 | |||||
| SUM PV LFCF | -1,177.28 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 12.72 |
| Free cash flow (t + 1) | -733.97 |
| Terminal Value | -6,846.76 |
| Present Value of Terminal Value | -3,762.53 |
Intrinsic Value
| Enterprise Value | -4,939.82 |
|---|---|
| Net Debt | -97.58 |
| Equity Value | -4,842.24 |
| Shares Outstanding | 68.66 |
| Equity Value Per Share | -70.52 |