Discounted Cash Flow (DCF) Analysis Levered
Legend Biotech Corporation (LEGN)
$46.09
-2.79 (-5.71%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 49.13 | 57.26 | 75.68 | 89.79 | 109.95 | 134.64 | 164.87 | 201.88 | 247.21 |
---|---|---|---|---|---|---|---|---|---|
Revenue (%) | |||||||||
Operating Cash Flow | 307.68 | -83.07 | -223 | -198.46 | -9.50 | -11.63 | -14.24 | -17.43 | -21.35 |
Operating Cash Flow (%) | |||||||||
Capital Expenditure | -21.02 | -39.17 | -49.78 | -52.97 | -64.86 | -79.42 | -97.25 | -119.08 | -145.82 |
Capital Expenditure (%) | |||||||||
Free Cash Flow | 286.66 | -122.24 | -272.78 | -251.43 | -74.35 | -91.05 | -111.49 | -136.52 | -167.17 |
Weighted Average Cost Of Capital
Share price | $ 46.09 |
---|---|
Beta | -0.718 |
Diluted Shares Outstanding | 140.85 |
Cost of Debt | |
Tax Rate | -0.00 |
After-tax Cost of Debt | 0.73% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | -0.500 |
Total Debt | 122.97 |
Total Equity | 6,491.85 |
Total Capital | 6,614.82 |
Debt Weighting | 1.86 |
Equity Weighting | 98.14 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 49.13 | 57.26 | 75.68 | 89.79 | 109.95 | 134.64 | 164.87 | 201.88 | 247.21 |
---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 307.68 | -83.07 | -223 | -198.46 | -9.50 | -11.63 | -14.24 | -17.43 | -21.35 |
Capital Expenditure | -21.02 | -39.17 | -49.78 | -52.97 | -64.86 | -79.42 | -97.25 | -119.08 | -145.82 |
Free Cash Flow | 286.66 | -122.24 | -272.78 | -251.43 | -74.35 | -91.05 | -111.49 | -136.52 | -167.17 |
WACC | |||||||||
PV LFCF | -74.35 | -91.49 | -112.57 | -138.50 | -170.42 | ||||
SUM PV LFCF | -590.16 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | -0.48 |
Free cash flow (t + 1) | -170.51 |
Terminal Value | 6,875.54 |
Present Value of Terminal Value | 7,042.95 |
Intrinsic Value
Enterprise Value | 6,452.79 |
---|---|
Net Debt | -565.97 |
Equity Value | 7,018.77 |
Shares Outstanding | 140.85 |
Equity Value Per Share | 49.83 |