Discounted Cash Flow (DCF) Analysis Levered
Lithium Americas Corp. (LAC)
$20.19
-1.00 (-4.72%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Projected | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 4.29 | 4.84 | 5.47 | 6.17 | 6.97 | 7.87 | 8.88 | 10.02 | 11.32 | 12.78 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -12.91 | -18.54 | -17.65 | -30.88 | -53.18 | -35.72 | -40.32 | -45.52 | -51.38 | -58.01 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -1.68 | -2 | -29.85 | -61.77 | -1.88 | -26.03 | -29.38 | -33.17 | -37.44 | -42.27 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -14.60 | -20.55 | -47.50 | -92.65 | -55.06 | -61.74 | -69.70 | -78.68 | -88.83 | -100.28 |
Weighted Average Cost Of Capital
| Share price | $ 20.19 |
|---|---|
| Beta | 1.581 |
| Diluted Shares Outstanding | 118.81 |
| Cost of Debt | |
| Tax Rate | 0.32 |
| After-tax Cost of Debt | 5.37% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 11.101 |
| Total Debt | 264.98 |
| Total Equity | 2,398.73 |
| Total Capital | 2,663.71 |
| Debt Weighting | 9.95 |
| Equity Weighting | 90.05 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Projected | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 4.29 | 4.84 | 5.47 | 6.17 | 6.97 | 7.87 | 8.88 | 10.02 | 11.32 | 12.78 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -12.91 | -18.54 | -17.65 | -30.88 | -53.18 | -35.72 | -40.32 | -45.52 | -51.38 | -58.01 |
| Capital Expenditure | -1.68 | -2 | -29.85 | -61.77 | -1.88 | -26.03 | -29.38 | -33.17 | -37.44 | -42.27 |
| Free Cash Flow | -14.60 | -20.55 | -47.50 | -92.65 | -55.06 | -61.74 | -69.70 | -78.68 | -88.83 | -100.28 |
| WACC | ||||||||||
| PV LFCF | -58.03 | -102.41 | -55.06 | -55.86 | -57.05 | -58.27 | -59.51 | -60.79 | ||
| SUM PV LFCF | -291.48 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 10.53 |
| Free cash flow (t + 1) | -102.28 |
| Terminal Value | -1,199.09 |
| Present Value of Terminal Value | -726.86 |
Intrinsic Value
| Enterprise Value | -1,018.34 |
|---|---|
| Net Debt | -245.63 |
| Equity Value | -772.71 |
| Shares Outstanding | 118.81 |
| Equity Value Per Share | -6.50 |