Discounted Cash Flow (DCF) Analysis Levered
Marin Software Incorporated (MRIN)
$0.7864
+0.06 (+7.70%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 49.04 | 29.98 | 24.42 | 20.02 | 14.99 | 11.22 | 8.40 | 6.29 | 4.71 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | |||||||||
| Operating Cash Flow | -1.24 | -5.67 | -7.94 | -18.14 | -5.42 | -4.05 | -3.03 | -2.27 | -1.70 |
| Operating Cash Flow (%) | |||||||||
| Capital Expenditure | -2.66 | -1.88 | -1.30 | -1.76 | -0.97 | -0.72 | -0.54 | -0.41 | -0.30 |
| Capital Expenditure (%) | |||||||||
| Free Cash Flow | -3.90 | -7.56 | -9.24 | -19.90 | -6.38 | -4.78 | -3.58 | -2.68 | -2 |
Weighted Average Cost Of Capital
| Share price | $ 0.7,864 |
|---|---|
| Beta | 0.502 |
| Diluted Shares Outstanding | 15.89 |
| Cost of Debt | |
| Tax Rate | -1.70 |
| After-tax Cost of Debt | -% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 6.060 |
| Total Debt | 3.84 |
| Total Equity | 12.50 |
| Total Capital | 16.34 |
| Debt Weighting | 23.52 |
| Equity Weighting | 76.48 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 49.04 | 29.98 | 24.42 | 20.02 | 14.99 | 11.22 | 8.40 | 6.29 | 4.71 |
|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -1.24 | -5.67 | -7.94 | -18.14 | -5.42 | -4.05 | -3.03 | -2.27 | -1.70 |
| Capital Expenditure | -2.66 | -1.88 | -1.30 | -1.76 | -0.97 | -0.72 | -0.54 | -0.41 | -0.30 |
| Free Cash Flow | -3.90 | -7.56 | -9.24 | -19.90 | -6.38 | -4.78 | -3.58 | -2.68 | -2 |
| WACC | |||||||||
| PV LFCF | -6.38 | - | - | - | - | ||||
| SUM PV LFCF | - |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | - |
| Free cash flow (t + 1) | -2.04 |
| Terminal Value | - |
| Present Value of Terminal Value | - |
Intrinsic Value
| Enterprise Value | - |
|---|---|
| Net Debt | -24.11 |
| Equity Value | - |
| Shares Outstanding | 15.89 |
| Equity Value Per Share | - |