Discounted Cash Flow (DCF) Analysis Levered
Molecular Templates, Inc. (MTEM)
$4.99
+0.11 (+2.25%)
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 | 7.28 | 19.50 | 15.63 | 38.70 | 19.75 | 31.93 | 51.60 | 83.39 | 134.77 | 217.81 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -4.47 | -25.24 | -83.80 | -30.39 | -89.02 | -80.19 | -129.60 | -209.46 | -338.53 | -547.11 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -5.72 | -9.65 | -7.39 | -4 | -3.20 | -12.89 | -20.83 | -33.66 | -54.41 | -87.93 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -10.19 | -34.89 | -91.19 | -34.38 | -92.22 | -93.08 | -150.43 | -243.13 | -392.93 | -635.04 |
Weighted Average Cost Of Capital
| Share price | $ 4.99 |
|---|---|
| Beta | 1.425 |
| Diluted Shares Outstanding | 56.33 |
| Cost of Debt | |
| Tax Rate | -0.06 |
| After-tax Cost of Debt | 9.45% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 10.882 |
| Total Debt | 50.58 |
| Total Equity | 281.11 |
| Total Capital | 331.69 |
| Debt Weighting | 15.25 |
| Equity Weighting | 84.75 |
| 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 | 7.28 | 19.50 | 15.63 | 38.70 | 19.75 | 31.93 | 51.60 | 83.39 | 134.77 | 217.81 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -4.47 | -25.24 | -83.80 | -30.39 | -89.02 | -80.19 | -129.60 | -209.46 | -338.53 | -547.11 |
| Capital Expenditure | -5.72 | -9.65 | -7.39 | -4 | -3.20 | -12.89 | -20.83 | -33.66 | -54.41 | -87.93 |
| Free Cash Flow | -10.19 | -34.89 | -91.19 | -34.38 | -92.22 | -93.08 | -150.43 | -243.13 | -392.93 | -635.04 |
| WACC | ||||||||||
| PV LFCF | -84.11 | -122.85 | -179.41 | -262.03 | -382.69 | |||||
| SUM PV LFCF | -1,031.10 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 10.66 |
| Free cash flow (t + 1) | -647.74 |
| Terminal Value | -7,479.72 |
| Present Value of Terminal Value | -4,507.46 |
Intrinsic Value
| Enterprise Value | -5,538.56 |
|---|---|
| Net Debt | 18.39 |
| Equity Value | -5,556.95 |
| Shares Outstanding | 56.33 |
| Equity Value Per Share | -98.64 |