Discounted Cash Flow (DCF) Analysis Levered
Kiora Pharmaceuticals, Inc. (KPRX)
$3.67
-0.18 (-4.68%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 0.41 | 1.65 | 2.69 | 0.01 | 0.02 | 0.04 | 0.08 | 0.16 | 0.29 | 0.56 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -6.47 | -10.84 | -8.15 | -7.32 | -10.89 | -9.60 | -18.20 | -34.48 | -65.34 | -123.82 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.04 | -0.27 | -0.34 | -0 | -0 | -0.01 | -0.01 | -0.02 | -0.04 | -0.07 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -6.51 | -11.11 | -8.50 | -7.32 | -10.89 | -9.61 | -18.21 | -34.50 | -65.38 | -123.89 |
Weighted Average Cost Of Capital
| Share price | $ 3.67 |
|---|---|
| Beta | 0.249 |
| Diluted Shares Outstanding | 0.11 |
| Cost of Debt | |
| Tax Rate | 1.83 |
| After-tax Cost of Debt | 3.21% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 4.670 |
| Total Debt | 0.21 |
| Total Equity | 0.42 |
| Total Capital | 0.63 |
| Debt Weighting | 33.28 |
| Equity Weighting | 66.72 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 0.41 | 1.65 | 2.69 | 0.01 | 0.02 | 0.04 | 0.08 | 0.16 | 0.29 | 0.56 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -6.47 | -10.84 | -8.15 | -7.32 | -10.89 | -9.60 | -18.20 | -34.48 | -65.34 | -123.82 |
| Capital Expenditure | -0.04 | -0.27 | -0.34 | -0 | -0 | -0.01 | -0.01 | -0.02 | -0.04 | -0.07 |
| Free Cash Flow | -6.51 | -11.11 | -8.50 | -7.32 | -10.89 | -9.61 | -18.21 | -34.50 | -65.38 | -123.89 |
| WACC | ||||||||||
| PV LFCF | -10.89 | -9.22 | -16.77 | -30.51 | -55.50 | -100.95 | ||||
| SUM PV LFCF | -212.97 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 4.18 |
| Free cash flow (t + 1) | -126.37 |
| Terminal Value | -5,796.82 |
| Present Value of Terminal Value | -4,723.55 |
Intrinsic Value
| Enterprise Value | -4,936.51 |
|---|---|
| Net Debt | -7.65 |
| Equity Value | -4,928.87 |
| Shares Outstanding | 0.11 |
| Equity Value Per Share | -43,083.97 |