Discounted Cash Flow (DCF) Analysis Levered
Pacific Biosciences of California, ... (PACB)
$9.32
-0.29 (-3.02%)
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 | 78.63 | 90.89 | 78.89 | 130.51 | 128.30 | 149.52 | 174.24 | 203.05 | 236.62 | 275.74 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -66.43 | -78.31 | 19.50 | -111.18 | -263.21 | -130.46 | -152.03 | -177.16 | -206.46 | -240.59 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -1.85 | -2.84 | -1.04 | -5.93 | -16.75 | -7.29 | -8.50 | -9.91 | -11.54 | -13.45 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -68.28 | -81.15 | 18.46 | -117.11 | -279.96 | -137.75 | -160.53 | -187.07 | -218 | -254.05 |
Weighted Average Cost Of Capital
| Share price | $ 9.32 |
|---|---|
| Beta | 1.663 |
| Diluted Shares Outstanding | 204.14 |
| Cost of Debt | |
| Tax Rate | 0.00 |
| After-tax Cost of Debt | 1.55% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 11.375 |
| Total Debt | 946.64 |
| Total Equity | 1,902.55 |
| Total Capital | 2,849.19 |
| Debt Weighting | 33.22 |
| Equity Weighting | 66.78 |
| 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 | 78.63 | 90.89 | 78.89 | 130.51 | 128.30 | 149.52 | 174.24 | 203.05 | 236.62 | 275.74 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -66.43 | -78.31 | 19.50 | -111.18 | -263.21 | -130.46 | -152.03 | -177.16 | -206.46 | -240.59 |
| Capital Expenditure | -1.85 | -2.84 | -1.04 | -5.93 | -16.75 | -7.29 | -8.50 | -9.91 | -11.54 | -13.45 |
| Free Cash Flow | -68.28 | -81.15 | 18.46 | -117.11 | -279.96 | -137.75 | -160.53 | -187.07 | -218 | -254.05 |
| WACC | ||||||||||
| PV LFCF | -127.42 | -137.35 | -148.05 | -159.59 | -172.02 | |||||
| SUM PV LFCF | -744.43 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.11 |
| Free cash flow (t + 1) | -259.13 |
| Terminal Value | -4,241.03 |
| Present Value of Terminal Value | -2,871.72 |
Intrinsic Value
| Enterprise Value | -3,616.15 |
|---|---|
| Net Debt | 621.55 |
| Equity Value | -4,237.70 |
| Shares Outstanding | 204.14 |
| Equity Value Per Share | -20.76 |