Discounted Cash Flow (DCF) Analysis Levered

ION Geophysical Corporation (IO)

$0.345

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: -17.73 | 0.345 | overvalue

Free Cash Flow

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 172.81197.55180.05174.68122.67114.30106.5099.2492.4686.15
Revenue (%)
Operating Cash Flow 1.5728.037.1034.159.1610.539.819.148.527.94
Operating Cash Flow (%)
Capital Expenditure -16.37-24.77-29.79-31.21-28.37-18.19-16.95-15.79-14.71-13.71
Capital Expenditure (%)
Free Cash Flow -14.803.26-22.692.94-19.21-7.66-7.14-6.65-6.19-5.77

Weighted Average Cost Of Capital

Share price $ 0.345
Beta 3.269
Diluted Shares Outstanding 14.27
Cost of Debt
Tax Rate -73.17
After-tax Cost of Debt 7.28%
Risk-Free Rate
Market Risk Premium
Cost of Equity 18.321
Total Debt 189.67
Total Equity 4.92
Total Capital 194.60
Debt Weighting 97.47
Equity Weighting 2.53
Wacc

Build Up Free Cash Flow

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 172.81197.55180.05174.68122.67114.30106.5099.2492.4686.15
Operating Cash Flow 1.5728.037.1034.159.1610.539.819.148.527.94
Capital Expenditure -16.37-24.77-29.79-31.21-28.37-18.19-16.95-15.79-14.71-13.71
Free Cash Flow -14.803.26-22.692.94-19.21-7.66-7.14-6.65-6.19-5.77
WACC
PV LFCF -6.62-5.73-4.97-4.30-3.73
SUM PV LFCF -27.27

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.56
Free cash flow (t + 1) -5.89
Terminal Value -105.89
Present Value of Terminal Value -73.55

Intrinsic Value

Enterprise Value -100.82
Net Debt 152.19
Equity Value -253.01
Shares Outstanding 14.27
Equity Value Per Share -17.73