Discounted Cash Flow (DCF) Analysis Levered

Ocean Power Technologies, Inc. (OPTT)

$0.286

-0.01 (-3.02%)
All numbers are in Millions, Currency in USD
Stock DCF: -37.85 | 0.286 | overvalue

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 0.631.681.211.762.734.366.9711.1417.7928.43
Revenue (%)
Operating Cash Flow -12.14-10.58-11.67-21.30-21.71-48.21-77.02-123.04-196.55-314
Operating Cash Flow (%)
Capital Expenditure -0.05-0.06-0.03-0.14-1.02-0.52-0.84-1.34-2.14-3.42
Capital Expenditure (%)
Free Cash Flow -12.19-10.64-11.70-21.44-22.73-48.73-77.85-124.38-198.69-317.41

Weighted Average Cost Of Capital

Share price $ 0.286
Beta 2.048
Diluted Shares Outstanding 56
Cost of Debt
Tax Rate 1.04
After-tax Cost of Debt 4.12%
Risk-Free Rate
Market Risk Premium
Cost of Equity 13.826
Total Debt 1.84
Total Equity 16.02
Total Capital 17.86
Debt Weighting 10.30
Equity Weighting 89.70
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 0.631.681.211.762.734.366.9711.1417.7928.43
Operating Cash Flow -12.14-10.58-11.67-21.30-21.71-48.21-77.02-123.04-196.55-314
Capital Expenditure -0.05-0.06-0.03-0.14-1.02-0.52-0.84-1.34-2.14-3.42
Free Cash Flow -12.19-10.64-11.70-21.44-22.73-48.73-77.85-124.38-198.69-317.41
WACC
PV LFCF -33.94-48.06-68.05-96.35-136.43
SUM PV LFCF -487.27

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 12.82
Free cash flow (t + 1) -323.76
Terminal Value -2,992.27
Present Value of Terminal Value -1,637.08

Intrinsic Value

Enterprise Value -2,124.35
Net Debt -5.04
Equity Value -2,119.31
Shares Outstanding 56
Equity Value Per Share -37.85