Discounted Cash Flow (DCF) Analysis Levered
NewAge, Inc. (NBEV)
$0.0935
-0.03 (-25.20%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2016 Actual | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected |
| Revenue | 25.30 | 52.19 | 52.16 | 253.71 | 279.47 | 630.74 | 1,423.53 | 3,212.80 | 7,251.02 | 16,364.96 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 0.98 | -8.41 | -21.83 | -31.80 | -34.25 | -99.54 | -224.65 | -507.02 | -1,144.30 | -2,582.59 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.05 | -0.56 | -0.74 | -7.16 | -2.47 | -8.07 | -18.21 | -41.10 | -92.75 | -209.33 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 0.93 | -8.97 | -22.57 | -38.96 | -36.72 | -107.61 | -242.86 | -548.11 | -1,237.05 | -2,791.92 |
Weighted Average Cost Of Capital
| Share price | $ 0.0,935 |
|---|---|
| Beta | 1.541 |
| Diluted Shares Outstanding | 96.35 |
| Cost of Debt | |
| Tax Rate | -5.06 |
| After-tax Cost of Debt | 6.97% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 11.755 |
| Total Debt | 34.20 |
| Total Equity | 9.01 |
| Total Capital | 43.21 |
| Debt Weighting | 79.15 |
| Equity Weighting | 20.85 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2016 Actual | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected |
| Revenue | 25.30 | 52.19 | 52.16 | 253.71 | 279.47 | 630.74 | 1,423.53 | 3,212.80 | 7,251.02 | 16,364.96 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 0.98 | -8.41 | -21.83 | -31.80 | -34.25 | -99.54 | -224.65 | -507.02 | -1,144.30 | -2,582.59 |
| Capital Expenditure | -0.05 | -0.56 | -0.74 | -7.16 | -2.47 | -8.07 | -18.21 | -41.10 | -92.75 | -209.33 |
| Free Cash Flow | 0.93 | -8.97 | -22.57 | -38.96 | -36.72 | -107.61 | -242.86 | -548.11 | -1,237.05 | -2,791.92 |
| WACC | ||||||||||
| PV LFCF | -92.31 | -192.95 | -403.33 | -843.09 | -1,762.32 | |||||
| SUM PV LFCF | -3,556.52 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.97 |
| Free cash flow (t + 1) | -2,847.76 |
| Terminal Value | -47,701.10 |
| Present Value of Terminal Value | -32,509.70 |
Intrinsic Value
| Enterprise Value | -36,066.22 |
|---|---|
| Net Debt | -9.51 |
| Equity Value | -36,056.70 |
| Shares Outstanding | 96.35 |
| Equity Value Per Share | -374.23 |