Discounted Cash Flow (DCF) Analysis Levered
Fathom Holdings Inc. (FTHM)
$6.65
+0.05 (+0.76%)
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 | 77.31 | 109.62 | 176.78 | 330.23 | 412.96 | 634.85 | 975.96 | 1,500.35 | 2,306.50 | 3,545.80 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -0.69 | -1.11 | -1.21 | -11.70 | -6.58 | -9.81 | -15.08 | -23.19 | -35.65 | -54.80 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.18 | -0.37 | -0.74 | -0.88 | -0.95 | -1.89 | -2.91 | -4.47 | -6.87 | -10.56 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -0.87 | -1.48 | -1.96 | -12.57 | -7.53 | -11.70 | -17.99 | -27.66 | -42.52 | -65.36 |
Weighted Average Cost Of Capital
| Share price | $ 6.65 |
|---|---|
| Beta | 1.755 |
| Diluted Shares Outstanding | 16 |
| Cost of Debt | |
| Tax Rate | 0.20 |
| After-tax Cost of Debt | 0.15% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 12.028 |
| Total Debt | 7.54 |
| Total Equity | 106.41 |
| Total Capital | 113.95 |
| Debt Weighting | 6.62 |
| Equity Weighting | 93.38 |
| 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 | 77.31 | 109.62 | 176.78 | 330.23 | 412.96 | 634.85 | 975.96 | 1,500.35 | 2,306.50 | 3,545.80 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -0.69 | -1.11 | -1.21 | -11.70 | -6.58 | -9.81 | -15.08 | -23.19 | -35.65 | -54.80 |
| Capital Expenditure | -0.18 | -0.37 | -0.74 | -0.88 | -0.95 | -1.89 | -2.91 | -4.47 | -6.87 | -10.56 |
| Free Cash Flow | -0.87 | -1.48 | -1.96 | -12.57 | -7.53 | -11.70 | -17.99 | -27.66 | -42.52 | -65.36 |
| WACC | ||||||||||
| PV LFCF | -10.52 | -14.54 | -20.09 | -27.77 | -38.37 | |||||
| SUM PV LFCF | -111.29 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 11.24 |
| Free cash flow (t + 1) | -66.67 |
| Terminal Value | -721.53 |
| Present Value of Terminal Value | -423.59 |
Intrinsic Value
| Enterprise Value | -534.88 |
|---|---|
| Net Debt | -0.78 |
| Equity Value | -534.11 |
| Shares Outstanding | 16 |
| Equity Value Per Share | -33.38 |