Discounted Cash Flow (DCF) Analysis Levered
Communications Systems, Inc. (JCS)
$8.18
-0.71 (-7.99%)
All numbers are in Millions, Currency in USD
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 | 82.32 | 65.76 | 50.91 | 42.58 | 7.01 | 4.51 | 2.90 | 1.87 | 1.20 | 0.77 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 3.65 | -4.72 | 10.23 | -4.68 | 0.11 | 0.07 | 0.05 | 0.03 | 0.02 | 0.01 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -0.77 | -0.76 | -0.42 | -0.25 | -0.06 | -0.04 | -0.03 | -0.02 | -0.01 | -0.01 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 2.88 | -5.49 | 9.81 | -4.93 | 0.05 | 0.03 | 0.02 | 0.01 | 0.01 | 0.01 |
Weighted Average Cost Of Capital
Share price | $ 8.18 |
---|---|
Beta | 0.600 |
Diluted Shares Outstanding | 2.42 |
Cost of Debt | |
Tax Rate | 136.47 |
After-tax Cost of Debt | -1.59% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 7.188 |
Total Debt | 0.17 |
Total Equity | 19.79 |
Total Capital | 19.95 |
Debt Weighting | 0.84 |
Equity Weighting | 99.16 |
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 | 82.32 | 65.76 | 50.91 | 42.58 | 7.01 | 4.51 | 2.90 | 1.87 | 1.20 | 0.77 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 3.65 | -4.72 | 10.23 | -4.68 | 0.11 | 0.07 | 0.05 | 0.03 | 0.02 | 0.01 |
Capital Expenditure | -0.77 | -0.76 | -0.42 | -0.25 | -0.06 | -0.04 | -0.03 | -0.02 | -0.01 | -0.01 |
Free Cash Flow | 2.88 | -5.49 | 9.81 | -4.93 | 0.05 | 0.03 | 0.02 | 0.01 | 0.01 | 0.01 |
WACC | ||||||||||
PV LFCF | 0.03 | 0.02 | 0.01 | 0.01 | 0 | |||||
SUM PV LFCF | 0.07 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 7.11 |
Free cash flow (t + 1) | 0.01 |
Terminal Value | 0.11 |
Present Value of Terminal Value | 0.08 |
Intrinsic Value
Enterprise Value | 0.15 |
---|---|
Net Debt | -3.32 |
Equity Value | 3.47 |
Shares Outstanding | 2.42 |
Equity Value Per Share | 1.43 |