Discounted Cash Flow (DCF) Analysis Levered
PaySign, Inc. (PAYS)
$2.15
+0.04 (+1.90%)
All numbers are in Millions, Currency in USD
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 | 15.23 | 23.42 | 34.67 | 24.12 | 29.46 | 36.35 | 44.85 | 55.33 | 68.26 | 84.22 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 7.15 | 16 | 16.71 | 13.78 | 16.25 | 20.04 | 24.73 | 30.51 | 37.64 | 46.44 |
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 | 5.63 | 14.40 | 13.48 | 10.43 | 13.30 | 16.41 | 20.25 | 24.98 | 30.82 | 38.02 |
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 | 15.23 | 23.42 | 34.67 | 24.12 | 29.46 | 36.35 | 44.85 | 55.33 | 68.26 | 84.22 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 7.15 | 16 | 16.71 | 13.78 | 16.25 | 20.04 | 24.73 | 30.51 | 37.64 | 46.44 |
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 | 5.63 | 14.40 | 13.48 | 10.43 | 13.30 | 16.41 | 20.25 | 24.98 | 30.82 | 38.02 |
WACC | ||||||||||
PV LFCF | 11.08 | 12.80 | 14.79 | 17.09 | 19.75 | |||||
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 |