Discounted Cash Flow (DCF) Analysis Levered
Farmmi, Inc. (FAMI)
$1.61
+0.05 (+3.21%)
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 | 29.82 | 30.84 | 30.17 | 39.29 | 99.21 | 144.85 | 211.48 | 308.76 | 450.79 | 658.16 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -2.73 | -10.77 | -1.62 | -0.94 | 20.64 | -8.99 | -13.12 | -19.16 | -27.97 | -40.84 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.06 | -0.09 | -0.25 | -0 | -0 | -0.39 | -0.57 | -0.84 | -1.23 | -1.79 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -2.79 | -10.87 | -1.86 | -0.95 | 20.63 | -9.38 | -13.70 | -20 | -29.20 | -42.63 |
Weighted Average Cost Of Capital
| Share price | $ 1.61 |
|---|---|
| Beta | 0.925 |
| Diluted Shares Outstanding | 11.68 |
| Cost of Debt | |
| Tax Rate | -5.62 |
| After-tax Cost of Debt | 2.95% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.963 |
| Total Debt | 4.55 |
| Total Equity | 18.80 |
| Total Capital | 23.36 |
| Debt Weighting | 19.49 |
| Equity Weighting | 80.51 |
| 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 | 29.82 | 30.84 | 30.17 | 39.29 | 99.21 | 144.85 | 211.48 | 308.76 | 450.79 | 658.16 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -2.73 | -10.77 | -1.62 | -0.94 | 20.64 | -8.99 | -13.12 | -19.16 | -27.97 | -40.84 |
| Capital Expenditure | -0.06 | -0.09 | -0.25 | -0 | -0 | -0.39 | -0.57 | -0.84 | -1.23 | -1.79 |
| Free Cash Flow | -2.79 | -10.87 | -1.86 | -0.95 | 20.63 | -9.38 | -13.70 | -20 | -29.20 | -42.63 |
| WACC | ||||||||||
| PV LFCF | -8.70 | -11.79 | -15.97 | -21.63 | -29.30 | |||||
| SUM PV LFCF | -87.38 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.79 |
| Free cash flow (t + 1) | -43.48 |
| Terminal Value | -750.95 |
| Present Value of Terminal Value | -516.08 |
Intrinsic Value
| Enterprise Value | -603.46 |
|---|---|
| Net Debt | -36.62 |
| Equity Value | -566.85 |
| Shares Outstanding | 11.68 |
| Equity Value Per Share | -48.54 |