Discounted Cash Flow (DCF) Analysis Levered
Enanta Pharmaceuticals, Inc. (ENTA)
$23.48
-0.32 (-1.34%)
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 | 206.63 | 205.20 | 122.47 | 97.07 | 86.16 | 70.44 | 57.59 | 47.08 | 38.49 | 31.47 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 29.22 | 71.42 | 7.09 | -70 | -84.78 | -16.31 | -13.33 | -10.90 | -8.91 | -7.29 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -2.98 | -5.42 | -1.45 | -0.75 | -2.13 | -1.20 | -0.98 | -0.80 | -0.65 | -0.53 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 26.24 | 66 | 5.64 | -70.75 | -86.91 | -17.51 | -14.31 | -11.70 | -9.57 | -7.82 |
Weighted Average Cost Of Capital
| Share price | $ 23.48 |
|---|---|
| Beta | 0.378 |
| Diluted Shares Outstanding | 20.60 |
| Cost of Debt | |
| Tax Rate | 0.35 |
| After-tax Cost of Debt | 6.21% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 5.422 |
| Total Debt | 25.26 |
| Total Equity | 483.76 |
| Total Capital | 509.02 |
| Debt Weighting | 4.96 |
| Equity Weighting | 95.04 |
| 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 | 206.63 | 205.20 | 122.47 | 97.07 | 86.16 | 70.44 | 57.59 | 47.08 | 38.49 | 31.47 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 29.22 | 71.42 | 7.09 | -70 | -84.78 | -16.31 | -13.33 | -10.90 | -8.91 | -7.29 |
| Capital Expenditure | -2.98 | -5.42 | -1.45 | -0.75 | -2.13 | -1.20 | -0.98 | -0.80 | -0.65 | -0.53 |
| Free Cash Flow | 26.24 | 66 | 5.64 | -70.75 | -86.91 | -17.51 | -14.31 | -11.70 | -9.57 | -7.82 |
| WACC | ||||||||||
| PV LFCF | -16.60 | -12.87 | -9.98 | -7.73 | -6 | |||||
| SUM PV LFCF | -53.18 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 5.46 |
| Free cash flow (t + 1) | -7.98 |
| Terminal Value | -230.55 |
| Present Value of Terminal Value | -176.74 |
Intrinsic Value
| Enterprise Value | -229.91 |
|---|---|
| Net Debt | -18.73 |
| Equity Value | -211.18 |
| Shares Outstanding | 20.60 |
| Equity Value Per Share | -10.25 |