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 | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 0.90 | 0.66 | 1.45 | 2.11 | 3.09 | 4.51 | 6.59 | 9.63 | 14.06 | 20.54 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -55.26 | -51.92 | -44.50 | -33.77 | -24.60 | -175.38 | -256.17 | -374.16 | -546.51 | -798.24 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.21 | -0.07 | -0.01 | -0.01 | -0.27 | -0.40 | -0.58 | -0.85 | -1.24 | -1.81 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -55.46 | -51.99 | -44.51 | -33.78 | -24.87 | -175.78 | -256.75 | -375.01 | -547.75 | -800.05 |
Weighted Average Cost Of Capital
| Share price | $ 0.425 |
|---|---|
| Beta | 0.000 |
| Diluted Shares Outstanding | 1.99 |
| Cost of Debt | |
| Tax Rate | 0.00 |
| After-tax Cost of Debt | 0.92% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 3.745 |
| Total Debt | 0.76 |
| Total Equity | 0.85 |
| Total Capital | 1.60 |
| Debt Weighting | 47.27 |
| Equity Weighting | 52.73 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 0.90 | 0.66 | 1.45 | 2.11 | 3.09 | 4.51 | 6.59 | 9.63 | 14.06 | 20.54 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -55.26 | -51.92 | -44.50 | -33.77 | -24.60 | -175.38 | -256.17 | -374.16 | -546.51 | -798.24 |
| Capital Expenditure | -0.21 | -0.07 | -0.01 | -0.01 | -0.27 | -0.40 | -0.58 | -0.85 | -1.24 | -1.81 |
| Free Cash Flow | -55.46 | -51.99 | -44.51 | -33.78 | -24.87 | -175.78 | -256.75 | -375.01 | -547.75 | -800.05 |
| WACC | ||||||||||
| PV LFCF | -33.78 | -24.28 | -167.60 | -239.05 | -340.94 | -486.26 | -693.53 | |||
| SUM PV LFCF | -1,973.82 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 2.41 |
| Free cash flow (t + 1) | -816.05 |
| Terminal Value | -199,036.87 |
| Present Value of Terminal Value | -176,693.96 |
Intrinsic Value
| Enterprise Value | -178,667.79 |
|---|---|
| Net Debt | -31.79 |
| Equity Value | -178,636 |
| Shares Outstanding | 1.99 |
| Equity Value Per Share | -89,790.72 |