Discounted Cash Flow (DCF) Analysis Levered
Idera Pharmaceuticals, Inc. (IDRA)
$0.425
-0.13 (-23.04%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 0.66 | 1.45 | 3.17 | 6.93 | 15.15 | 33.14 | 72.50 | 158.57 | 346.85 | 758.67 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -51.92 | -44.50 | -33.77 | -24.60 | -24.49 | -828.50 | -1,812.19 | -3,963.83 | -8,670.13 | -18,964.27 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.07 | -0.01 | -0.01 | -0.28 | -0.62 | -1.36 | -2.98 | -6.52 | -14.27 | -31.21 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -51.99 | -44.51 | -33.78 | -24.88 | -25.12 | -829.87 | -1,815.18 | -3,970.35 | -8,684.40 | -18,995.48 |
Weighted Average Cost Of Capital
| Share price | $ 0.425 |
|---|---|
| Beta | 0.000 |
| Diluted Shares Outstanding | 3.26 |
| Cost of Debt | |
| Tax Rate | 21.29 |
| After-tax Cost of Debt | 28.67% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 4.626 |
| Total Debt | 0.56 |
| Total Equity | 1.38 |
| Total Capital | 1.94 |
| Debt Weighting | 28.81 |
| Equity Weighting | 71.19 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 0.66 | 1.45 | 3.17 | 6.93 | 15.15 | 33.14 | 72.50 | 158.57 | 346.85 | 758.67 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -51.92 | -44.50 | -33.77 | -24.60 | -24.49 | -828.50 | -1,812.19 | -3,963.83 | -8,670.13 | -18,964.27 |
| Capital Expenditure | -0.07 | -0.01 | -0.01 | -0.28 | -0.62 | -1.36 | -2.98 | -6.52 | -14.27 | -31.21 |
| Free Cash Flow | -51.99 | -44.51 | -33.78 | -24.88 | -25.12 | -829.87 | -1,815.18 | -3,970.35 | -8,684.40 | -18,995.48 |
| WACC | ||||||||||
| PV LFCF | -42.03 | -27.76 | -25.12 | -743.94 | -1,458.75 | -2,860.36 | -5,608.69 | -10,997.72 | ||
| SUM PV LFCF | -21,669.45 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 11.55 |
| Free cash flow (t + 1) | -19,375.39 |
| Terminal Value | -202,883.70 |
| Present Value of Terminal Value | -117,462.51 |
Intrinsic Value
| Enterprise Value | -139,131.96 |
|---|---|
| Net Debt | -11.48 |
| Equity Value | -139,120.48 |
| Shares Outstanding | 3.26 |
| Equity Value Per Share | -42,732.04 |