Discounted Cash Flow (DCF) Analysis Levered
Midatech Pharma plc (MTP)
$0.2851
-0.06 (-18.50%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 7.60 | 0.15 | 0.31 | 0.18 | 0.58 | 0.85 | 1.26 | 1.86 | 2.74 | 4.04 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -12.95 | -13.45 | -6.49 | -9.30 | -6.01 | -29.82 | -44 | -64.91 | -95.77 | -141.30 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -1.48 | -0.24 | -0.32 | -0.21 | -0.32 | -0.78 | -1.15 | -1.70 | -2.50 | -3.69 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -14.44 | -13.69 | -6.81 | -9.51 | -6.33 | -30.60 | -45.15 | -66.61 | -98.27 | -144.99 |
Weighted Average Cost Of Capital
| Share price | $ 0.2,851 |
|---|---|
| Beta | 1.219 |
| Diluted Shares Outstanding | 0.20 |
| Cost of Debt | |
| Tax Rate | 10.58 |
| After-tax Cost of Debt | 5.13% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 9.444 |
| Total Debt | 0.77 |
| Total Equity | 0.06 |
| Total Capital | 0.82 |
| Debt Weighting | 93.03 |
| Equity Weighting | 6.97 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 7.60 | 0.15 | 0.31 | 0.18 | 0.58 | 0.85 | 1.26 | 1.86 | 2.74 | 4.04 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -12.95 | -13.45 | -6.49 | -9.30 | -6.01 | -29.82 | -44 | -64.91 | -95.77 | -141.30 |
| Capital Expenditure | -1.48 | -0.24 | -0.32 | -0.21 | -0.32 | -0.78 | -1.15 | -1.70 | -2.50 | -3.69 |
| Free Cash Flow | -14.44 | -13.69 | -6.81 | -9.51 | -6.33 | -30.60 | -45.15 | -66.61 | -98.27 | -144.99 |
| WACC | ||||||||||
| PV LFCF | -26.11 | -36.54 | -51.13 | -71.56 | -100.14 | |||||
| SUM PV LFCF | -317.33 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 5.43 |
| Free cash flow (t + 1) | -147.89 |
| Terminal Value | -4,311.78 |
| Present Value of Terminal Value | -3,310.06 |
Intrinsic Value
| Enterprise Value | -3,627.38 |
|---|---|
| Net Debt | -9.29 |
| Equity Value | -3,618.09 |
| Shares Outstanding | 0.20 |
| Equity Value Per Share | -17,967.64 |