Discounted Cash Flow (DCF) Analysis Levered

Establishment Labs Holdings Inc. (ESTA)

$48.08

+0.61 (+1.28%)
All numbers are in Millions, Currency in USD
Stock DCF: -Infinity | 48.08 | overvalue

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 89.5684.68126.68161.70165.15195.67231.84274.68325.45385.60
Revenue (%)
Operating Cash Flow -29.98-12.51-27.53-52.17-42.21-50.02-59.26-70.21-83.19-98.56
Operating Cash Flow (%)
Capital Expenditure -7-3.91-6.73-34.27-16.07-19.04-22.56-26.73-31.68-37.53
Capital Expenditure (%)
Free Cash Flow -36.98-16.42-34.26-86.43-58.29-69.06-81.82-96.95-114.86-136.09

Weighted Average Cost Of Capital

Share price $ 48.08
Beta 1.232
Diluted Shares Outstanding -
Cost of Debt
Tax Rate 0.10
After-tax Cost of Debt 6.57%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.937
Total Debt 178.66
Total Equity -
Total Capital 178.66
Debt Weighting 100.00
Equity Weighting 0.00
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 89.5684.68126.68161.70165.15195.67231.84274.68325.45385.60
Operating Cash Flow -29.98-12.51-27.53-52.17-42.21-50.02-59.26-70.21-83.19-98.56
Capital Expenditure -7-3.91-6.73-34.27-16.07-19.04-22.56-26.73-31.68-37.53
Free Cash Flow -36.98-16.42-34.26-86.43-58.29-69.06-81.82-96.95-114.86-136.09
WACC
PV LFCF -64.80-72.05-80.10-89.05-99.01
SUM PV LFCF -405.01

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.57
Free cash flow (t + 1) -138.81
Terminal Value -3,037.51
Present Value of Terminal Value -2,209.75

Intrinsic Value

Enterprise Value -2,614.75
Net Debt 112.31
Equity Value -2,727.06
Shares Outstanding -
Equity Value Per Share -Infinity