Discounted Cash Flow (DCF) Analysis Levered
Geron Corporation (GERN)
$1.32
+0.02 (+1.54%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 1.06 | 1.07 | 0.46 | 0.25 | 0.03 | 0.02 | 0.01 | 0 | 0 | 0 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | -20.56 | -21.01 | -43.83 | -66.65 | -2.95 | -1.55 | -0.81 | -0.43 | -0.22 | -0.12 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | - | -0.02 | -0.41 | -0.40 | -0.02 | -0.01 | -0.01 | -0 | -0 | -0 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | -20.56 | -21.02 | -44.24 | -67.05 | -2.97 | -1.56 | -0.82 | -0.43 | -0.23 | -0.12 |
Weighted Average Cost Of Capital
Share price | $ 1.32 |
---|---|
Beta | 1.076 |
Diluted Shares Outstanding | 327.63 |
Cost of Debt | |
Tax Rate | 0.00 |
After-tax Cost of Debt | -0.01% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 7.936 |
Total Debt | 55 |
Total Equity | 432.47 |
Total Capital | 487.47 |
Debt Weighting | 11.28 |
Equity Weighting | 88.72 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 1.06 | 1.07 | 0.46 | 0.25 | 0.03 | 0.02 | 0.01 | 0 | 0 | 0 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | -20.56 | -21.01 | -43.83 | -66.65 | -2.95 | -1.55 | -0.81 | -0.43 | -0.22 | -0.12 |
Capital Expenditure | - | -0.02 | -0.41 | -0.40 | -0.02 | -0.01 | -0.01 | -0 | -0 | -0 |
Free Cash Flow | -20.56 | -21.02 | -44.24 | -67.05 | -2.97 | -1.56 | -0.82 | -0.43 | -0.23 | -0.12 |
WACC | ||||||||||
PV LFCF | -1.46 | -0.72 | -0.35 | -0.17 | -0.08 | |||||
SUM PV LFCF | -2.78 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 7.04 |
Free cash flow (t + 1) | -0.12 |
Terminal Value | -2.40 |
Present Value of Terminal Value | -1.71 |
Intrinsic Value
Enterprise Value | -4.49 |
---|---|
Net Debt | 20.13 |
Equity Value | -24.62 |
Shares Outstanding | 327.63 |
Equity Value Per Share | -0.08 |