Discounted Cash Flow (DCF) Analysis Levered

Kandi Technologies Group, Inc. (KNDI)

$2.6

-0.04 (-1.52%)
All numbers are in Millions, Currency in USD
Stock DCF: -3.50 | 2.6 | overvalue

Free Cash Flow

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 112.44135.7476.9291.49117.81125.21133.07141.42150.29159.72
Revenue (%)
Operating Cash Flow 13.59-29.89-50.880.2431.48-12.30-13.07-13.89-14.76-15.68
Operating Cash Flow (%)
Capital Expenditure -1.11-0.60-18.18-19.14-3.82-12.33-13.10-13.92-14.80-15.73
Capital Expenditure (%)
Free Cash Flow 12.48-30.48-69.07-18.9027.66-24.62-26.17-27.81-29.56-31.41

Weighted Average Cost Of Capital

Share price $ 2.6
Beta 1.537
Diluted Shares Outstanding 75.57
Cost of Debt
Tax Rate 3.65
After-tax Cost of Debt 4.13%
Risk-Free Rate
Market Risk Premium
Cost of Equity 11.540
Total Debt 24.69
Total Equity 196.49
Total Capital 221.18
Debt Weighting 11.16
Equity Weighting 88.84
Wacc

Build Up Free Cash Flow

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 112.44135.7476.9291.49117.81125.21133.07141.42150.29159.72
Operating Cash Flow 13.59-29.89-50.880.2431.48-12.30-13.07-13.89-14.76-15.68
Capital Expenditure -1.11-0.60-18.18-19.14-3.82-12.33-13.10-13.92-14.80-15.73
Free Cash Flow 12.48-30.48-69.07-18.9027.66-24.62-26.17-27.81-29.56-31.41
WACC
PV LFCF -22.24-21.35-20.50-19.67-18.89
SUM PV LFCF -102.65

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 10.71
Free cash flow (t + 1) -32.04
Terminal Value -367.85
Present Value of Terminal Value -221.17

Intrinsic Value

Enterprise Value -323.82
Net Debt -59.37
Equity Value -264.45
Shares Outstanding 75.57
Equity Value Per Share -3.50