Discounted Cash Flow (DCF) Analysis Levered

PaySign, Inc. (PAYS)

$2.15

+0.04 (+1.90%)
All numbers are in Millions, Currency in USD
Stock DCF: 13.78 | 2.15 | undervalue

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 15.2323.4234.6724.1229.4636.3544.8555.3368.2684.22
Revenue (%)
Operating Cash Flow 7.151616.7113.7816.2520.0424.7330.5137.6446.44
Operating Cash Flow (%)
Capital Expenditure -1.52-1.59-3.24-3.34-2.95-3.63-4.48-5.53-6.82-8.42
Capital Expenditure (%)
Free Cash Flow 5.6314.4013.4810.4313.3016.4120.2524.9830.8238.02

Weighted Average Cost Of Capital

Share price $ 2.15
Beta 0.896
Diluted Shares Outstanding 50.35
Cost of Debt
Tax Rate -0.38
After-tax Cost of Debt 0.71%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.995
Total Debt 4.01
Total Equity 108.26
Total Capital 112.27
Debt Weighting 3.57
Equity Weighting 96.43
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 15.2323.4234.6724.1229.4636.3544.8555.3368.2684.22
Operating Cash Flow 7.151616.7113.7816.2520.0424.7330.5137.6446.44
Capital Expenditure -1.52-1.59-3.24-3.34-2.95-3.63-4.48-5.53-6.82-8.42
Free Cash Flow 5.6314.4013.4810.4313.3016.4120.2524.9830.8238.02
WACC
PV LFCF 11.0812.8014.7917.0919.75
SUM PV LFCF 104.76

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.77
Free cash flow (t + 1) 38.78
Terminal Value 812.97
Present Value of Terminal Value 585.90

Intrinsic Value

Enterprise Value 690.67
Net Debt -3.37
Equity Value 694.04
Shares Outstanding 50.35
Equity Value Per Share 13.78