Discounted Cash Flow (DCF) Analysis Levered
Inotiv, Inc. (NOTV)
$11.75
-0.24 (-2.00%)
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 | 24.24 | 26.35 | 43.62 | 60.47 | 89.61 | 125.68 | 176.29 | 247.27 | 346.82 | 486.46 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 1.24 | 3.49 | 1.78 | 1.29 | 10.75 | 9.18 | 12.88 | 18.07 | 25.34 | 35.55 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -0.35 | -1.32 | -6.88 | -6.20 | -12.47 | -11.66 | -16.35 | -22.93 | -32.17 | -45.12 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 0.89 | 2.17 | -5.10 | -4.91 | -1.73 | -2.47 | -3.47 | -4.87 | -6.82 | -9.57 |
Weighted Average Cost Of Capital
Share price | $ 11.75 |
---|---|
Beta | 2.241 |
Diluted Shares Outstanding | 13.87 |
Cost of Debt | |
Tax Rate | -78.05 |
After-tax Cost of Debt | 0.97% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 13.702 |
Total Debt | 174.19 |
Total Equity | 162.91 |
Total Capital | 337.10 |
Debt Weighting | 51.67 |
Equity Weighting | 48.33 |
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 | 24.24 | 26.35 | 43.62 | 60.47 | 89.61 | 125.68 | 176.29 | 247.27 | 346.82 | 486.46 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 1.24 | 3.49 | 1.78 | 1.29 | 10.75 | 9.18 | 12.88 | 18.07 | 25.34 | 35.55 |
Capital Expenditure | -0.35 | -1.32 | -6.88 | -6.20 | -12.47 | -11.66 | -16.35 | -22.93 | -32.17 | -45.12 |
Free Cash Flow | 0.89 | 2.17 | -5.10 | -4.91 | -1.73 | -2.47 | -3.47 | -4.87 | -6.82 | -9.57 |
WACC | ||||||||||
PV LFCF | -2.31 | -3.02 | -3.96 | -5.18 | -6.79 | |||||
SUM PV LFCF | -21.26 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 7.12 |
Free cash flow (t + 1) | -9.76 |
Terminal Value | -190.68 |
Present Value of Terminal Value | -135.19 |
Intrinsic Value
Enterprise Value | -156.45 |
---|---|
Net Debt | 35.27 |
Equity Value | -191.71 |
Shares Outstanding | 13.87 |
Equity Value Per Share | -13.83 |