Discounted Cash Flow (DCF) Analysis Levered
Kandi Technologies Group, Inc. (KNDI)
$2.7
+0.01 (+0.37%)
All numbers are in Millions, Currency in USD
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 | 112.44 | 135.74 | 76.92 | 91.49 | 117.81 | 125.21 | 133.07 | 141.42 | 150.29 | 159.72 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 13.59 | -29.89 | -50.88 | 0.24 | 31.48 | -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 | -18.90 | 27.66 | -24.62 | -26.17 | -27.81 | -29.56 | -31.41 |
Weighted Average Cost Of Capital
| Share price | $ 2.7 |
|---|---|
| Beta | 1.730 |
| Diluted Shares Outstanding | 75.57 |
| Cost of Debt | |
| Tax Rate | 3.65 |
| After-tax Cost of Debt | 3.96% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 12.276 |
| Total Debt | 24.69 |
| Total Equity | 204.04 |
| Total Capital | 228.74 |
| Debt Weighting | 10.80 |
| Equity Weighting | 89.20 |
| 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 | 112.44 | 135.74 | 76.92 | 91.49 | 117.81 | 125.21 | 133.07 | 141.42 | 150.29 | 159.72 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 13.59 | -29.89 | -50.88 | 0.24 | 31.48 | -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 | -18.90 | 27.66 | -24.62 | -26.17 | -27.81 | -29.56 | -31.41 |
| WACC | ||||||||||
| PV LFCF | -12.90 | -12.31 | -11.74 | -11.20 | -10.69 | |||||
| SUM PV LFCF | -100.86 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 11.38 |
| Free cash flow (t + 1) | -32.04 |
| Terminal Value | -341.57 |
| Present Value of Terminal Value | -199.27 |
Intrinsic Value
| Enterprise Value | -300.13 |
|---|---|
| Net Debt | -59.37 |
| Equity Value | -240.76 |
| Shares Outstanding | 75.57 |
| Equity Value Per Share | -3.19 |