Discounted Cash Flow (DCF) Analysis Levered
Comstock Inc. (LODE)
$0.4231
+0.02 (+5.72%)
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 | 0.15 | 0.18 | 0.20 | 0.86 | 0.18 | 0.30 | 0.51 | 0.87 | 1.49 | 2.53 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -4.03 | -2.31 | -3.76 | -7.49 | -12.11 | -8.17 | -13.89 | -23.61 | -40.14 | -68.23 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -1.66 | -2.44 | -0.13 | -0.08 | -3.19 | -2.62 | -4.45 | -7.56 | -12.86 | -21.86 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -5.68 | -4.74 | -3.90 | -7.57 | -15.30 | -10.79 | -18.34 | -31.18 | -53 | -90.08 |
Weighted Average Cost Of Capital
| Share price | $ 0.4,231 |
|---|---|
| Beta | 2.031 |
| Diluted Shares Outstanding | 74.46 |
| Cost of Debt | |
| Tax Rate | -54.63 |
| After-tax Cost of Debt | 18.91% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 14.182 |
| Total Debt | 8.73 |
| Total Equity | 31.50 |
| Total Capital | 40.24 |
| Debt Weighting | 21.71 |
| Equity Weighting | 78.29 |
| 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 | 0.15 | 0.18 | 0.20 | 0.86 | 0.18 | 0.30 | 0.51 | 0.87 | 1.49 | 2.53 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -4.03 | -2.31 | -3.76 | -7.49 | -12.11 | -8.17 | -13.89 | -23.61 | -40.14 | -68.23 |
| Capital Expenditure | -1.66 | -2.44 | -0.13 | -0.08 | -3.19 | -2.62 | -4.45 | -7.56 | -12.86 | -21.86 |
| Free Cash Flow | -5.68 | -4.74 | -3.90 | -7.57 | -15.30 | -10.79 | -18.34 | -31.18 | -53 | -90.08 |
| WACC | ||||||||||
| PV LFCF | -9.37 | -13.82 | -20.39 | -30.08 | -44.38 | |||||
| SUM PV LFCF | -118.03 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 15.21 |
| Free cash flow (t + 1) | -91.89 |
| Terminal Value | -695.57 |
| Present Value of Terminal Value | -342.68 |
Intrinsic Value
| Enterprise Value | -460.72 |
|---|---|
| Net Debt | 6.21 |
| Equity Value | -466.93 |
| Shares Outstanding | 74.46 |
| Equity Value Per Share | -6.27 |