Discounted Cash Flow (DCF) Analysis Levered
NeuroMetrix, Inc. (NURO)
$3.58
+0.09 (+2.58%)
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 | 16.09 | 9.27 | 7.38 | 8.25 | 8.26 | 7.21 | 6.29 | 5.49 | 4.79 | 4.18 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 2.86 | -3.62 | -2.07 | -2.07 | -5.29 | -2 | -1.74 | -1.52 | -1.33 | -1.16 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.14 | -0.05 | -0.05 | -0.06 | -0.06 | -0.05 | -0.04 | -0.04 | -0.03 | -0.03 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 2.72 | -3.67 | -2.12 | -2.13 | -5.35 | -2.05 | -1.79 | -1.56 | -1.36 | -1.19 |
Weighted Average Cost Of Capital
| Share price | $ 3.58 |
|---|---|
| Beta | 2.260 |
| Diluted Shares Outstanding | 7.79 |
| Cost of Debt | |
| Tax Rate | 1.12 |
| After-tax Cost of Debt | 4.21% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 14.922 |
| Total Debt | 0.36 |
| Total Equity | 27.87 |
| Total Capital | 28.23 |
| Debt Weighting | 1.26 |
| Equity Weighting | 98.74 |
| 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 | 16.09 | 9.27 | 7.38 | 8.25 | 8.26 | 7.21 | 6.29 | 5.49 | 4.79 | 4.18 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 2.86 | -3.62 | -2.07 | -2.07 | -5.29 | -2 | -1.74 | -1.52 | -1.33 | -1.16 |
| Capital Expenditure | -0.14 | -0.05 | -0.05 | -0.06 | -0.06 | -0.05 | -0.04 | -0.04 | -0.03 | -0.03 |
| Free Cash Flow | 2.72 | -3.67 | -2.12 | -2.13 | -5.35 | -2.05 | -1.79 | -1.56 | -1.36 | -1.19 |
| WACC | ||||||||||
| PV LFCF | -1.78 | -1.36 | -1.03 | -0.78 | -0.60 | |||||
| SUM PV LFCF | -5.55 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 14.79 |
| Free cash flow (t + 1) | -1.21 |
| Terminal Value | -9.47 |
| Present Value of Terminal Value | -4.75 |
Intrinsic Value
| Enterprise Value | -10.30 |
|---|---|
| Net Debt | -3.90 |
| Equity Value | -6.40 |
| Shares Outstanding | 7.79 |
| Equity Value Per Share | -0.82 |