Discounted Cash Flow (DCF) Analysis Levered
EyeGate Pharmaceuticals, Inc. (EYEG)
$1.95
-0.03 (-1.52%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2016 Actual | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected |
| Revenue | 0.67 | 0.41 | 1.65 | 2.69 | 0.01 | 0.02 | 0.03 | 0.05 | 0.07 | 0.12 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -8.41 | -6.47 | -10.84 | -8.15 | -7.32 | -2.45 | -3.85 | -6.06 | -9.53 | -15 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.01 | -0.04 | -0.27 | -0.24 | -0 | -0 | -0 | -0 | -0.01 | -0.01 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -8.42 | -6.51 | -11.11 | -8.40 | -7.32 | -2.45 | -3.85 | -6.06 | -9.54 | -15.01 |
Weighted Average Cost Of Capital
| Share price | $ 1.95 |
|---|---|
| Beta | 0.797 |
| Diluted Shares Outstanding | 3.18 |
| Cost of Debt | |
| Tax Rate | -0.15 |
| After-tax Cost of Debt | 1.28% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 7.457 |
| Total Debt | 0.33 |
| Total Equity | 6.20 |
| Total Capital | 6.53 |
| Debt Weighting | 5.00 |
| Equity Weighting | 95.00 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2016 Actual | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected |
| Revenue | 0.67 | 0.41 | 1.65 | 2.69 | 0.01 | 0.02 | 0.03 | 0.05 | 0.07 | 0.12 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -8.41 | -6.47 | -10.84 | -8.15 | -7.32 | -2.45 | -3.85 | -6.06 | -9.53 | -15 |
| Capital Expenditure | -0.01 | -0.04 | -0.27 | -0.24 | -0 | -0 | -0 | -0 | -0.01 | -0.01 |
| Free Cash Flow | -8.42 | -6.51 | -11.11 | -8.40 | -7.32 | -2.45 | -3.85 | -6.06 | -9.54 | -15.01 |
| WACC | ||||||||||
| PV LFCF | -2.29 | -3.36 | -4.93 | -7.24 | -10.63 | |||||
| SUM PV LFCF | -28.43 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.15 |
| Free cash flow (t + 1) | -15.31 |
| Terminal Value | -297.28 |
| Present Value of Terminal Value | -210.48 |
Intrinsic Value
| Enterprise Value | -238.91 |
|---|---|
| Net Debt | -0.86 |
| Equity Value | -238.05 |
| Shares Outstanding | 3.18 |
| Equity Value Per Share | -74.84 |