Discounted Cash Flow (DCF) Analysis Levered
Omeros Corporation (OMER)
$5.25
+0.12 (+2.34%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 64.83 | 29.87 | 111.80 | 73.81 | 119.68 | 194.05 | 314.64 | 510.16 | 827.18 | 1,341.20 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -36.23 | -103.74 | -60.07 | -100.09 | -109.72 | -265.54 | -430.56 | -698.11 | -1,131.92 | -1,835.31 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.35 | -0.57 | -0.33 | -0.28 | -0.28 | -1.30 | -2.11 | -3.42 | -5.55 | -8.99 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -36.58 | -104.30 | -60.41 | -100.37 | -110 | -266.84 | -432.67 | -701.53 | -1,137.47 | -1,844.31 |
Weighted Average Cost Of Capital
| Share price | $ 5.25 |
|---|---|
| Beta | 1.106 |
| Diluted Shares Outstanding | 62.34 |
| Cost of Debt | |
| Tax Rate | 201.40 |
| After-tax Cost of Debt | -5.73% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.859 |
| Total Debt | 347.84 |
| Total Equity | 327.31 |
| Total Capital | 675.15 |
| Debt Weighting | 51.52 |
| Equity Weighting | 48.48 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 64.83 | 29.87 | 111.80 | 73.81 | 119.68 | 194.05 | 314.64 | 510.16 | 827.18 | 1,341.20 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -36.23 | -103.74 | -60.07 | -100.09 | -109.72 | -265.54 | -430.56 | -698.11 | -1,131.92 | -1,835.31 |
| Capital Expenditure | -0.35 | -0.57 | -0.33 | -0.28 | -0.28 | -1.30 | -2.11 | -3.42 | -5.55 | -8.99 |
| Free Cash Flow | -36.58 | -104.30 | -60.41 | -100.37 | -110 | -266.84 | -432.67 | -701.53 | -1,137.47 | -1,844.31 |
| WACC | ||||||||||
| PV LFCF | -110 | -263.32 | -421.30 | -674.07 | -1,078.49 | -1,725.55 | ||||
| SUM PV LFCF | -4,162.72 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 1.34 |
| Free cash flow (t + 1) | -1,881.19 |
| Terminal Value | 285,029.06 |
| Present Value of Terminal Value | 266,676.43 |
Intrinsic Value
| Enterprise Value | 262,513.71 |
|---|---|
| Net Debt | 247.03 |
| Equity Value | 262,266.68 |
| Shares Outstanding | 62.34 |
| Equity Value Per Share | 4,206.76 |