Discounted Cash Flow (DCF) Analysis Levered
Harrow Health, Inc. (HROW)
$14.8
+0.74 (+5.26%)
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 | 41.37 | 51.16 | 48.87 | 72.48 | 88.59 | 108.47 | 132.80 | 162.59 | 199.06 | 243.72 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 0.69 | 0.95 | -1.10 | 5.08 | 1.71 | 2.21 | 2.71 | 3.32 | 4.06 | 4.97 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -2.20 | -1.84 | -0.99 | -28.51 | -7.77 | -12.81 | -15.69 | -19.21 | -23.51 | -28.79 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | -1.52 | -0.89 | -2.09 | -23.43 | -6.07 | -10.60 | -12.98 | -15.89 | -19.45 | -23.82 |
Weighted Average Cost Of Capital
Share price | $ 14.8 |
---|---|
Beta | 0.214 |
Diluted Shares Outstanding | 27.46 |
Cost of Debt | |
Tax Rate | -0.54 |
After-tax Cost of Debt | 6.95% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 5.552 |
Total Debt | 104.17 |
Total Equity | 406.42 |
Total Capital | 510.60 |
Debt Weighting | 20.40 |
Equity Weighting | 79.60 |
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 | 41.37 | 51.16 | 48.87 | 72.48 | 88.59 | 108.47 | 132.80 | 162.59 | 199.06 | 243.72 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 0.69 | 0.95 | -1.10 | 5.08 | 1.71 | 2.21 | 2.71 | 3.32 | 4.06 | 4.97 |
Capital Expenditure | -2.20 | -1.84 | -0.99 | -28.51 | -7.77 | -12.81 | -15.69 | -19.21 | -23.51 | -28.79 |
Free Cash Flow | -1.52 | -0.89 | -2.09 | -23.43 | -6.07 | -10.60 | -12.98 | -15.89 | -19.45 | -23.82 |
WACC | ||||||||||
PV LFCF | -10.01 | -11.58 | -13.40 | -15.50 | -17.93 | |||||
SUM PV LFCF | -68.43 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 5.84 |
Free cash flow (t + 1) | -24.29 |
Terminal Value | -632.61 |
Present Value of Terminal Value | -476.31 |
Intrinsic Value
Enterprise Value | -544.74 |
---|---|
Net Debt | 7.90 |
Equity Value | -552.64 |
Shares Outstanding | 27.46 |
Equity Value Per Share | -20.12 |