Discounted Cash Flow (DCF) Analysis Levered

Histogen Inc. (HSTO)

$1.525

+0.11 (+7.39%)
All numbers are in Millions, Currency in USD
Stock DCF: 3.95 | 1.525 | undervalue

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 35.3833.5921.722.061.030.570.310.170.090.05
Revenue (%)
Operating Cash Flow -33.21-34.86-1.29-12.05-2.04-1.12-0.61-0.34-0.18-0.10
Operating Cash Flow (%)
Capital Expenditure -0.03-0.07-0.15-0.05-0.01-0-0-0-0-0
Capital Expenditure (%)
Free Cash Flow -33.24-34.92-1.44-12.10-2.04-1.12-0.61-0.34-0.18-0.10

Weighted Average Cost Of Capital

Share price $ 1.525
Beta 0.672
Diluted Shares Outstanding 3.84
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 5.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.021
Total Debt -
Total Equity 5.85
Total Capital 5.85
Debt Weighting 0.00
Equity Weighting 100.00
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 35.3833.5921.722.061.030.570.310.170.090.05
Operating Cash Flow -33.21-34.86-1.29-12.05-2.04-1.12-0.61-0.34-0.18-0.10
Capital Expenditure -0.03-0.07-0.15-0.05-0.01-0-0-0-0-0
Free Cash Flow -33.24-34.92-1.44-12.10-2.04-1.12-0.61-0.34-0.18-0.10
WACC
PV LFCF -1.05-0.54-0.27-0.14-0.07
SUM PV LFCF -2.07

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.02
Free cash flow (t + 1) -0.10
Terminal Value -2.05
Present Value of Terminal Value -1.46

Intrinsic Value

Enterprise Value -3.53
Net Debt -18.68
Equity Value 15.15
Shares Outstanding 3.84
Equity Value Per Share 3.95