Discounted Cash Flow (DCF) Analysis Levered

PaySign, Inc. (PAYS)

$1.9

-0.02 (-1.04%)
All numbers are in Millions, Currency in USD
Stock DCF: 8.78 | 1.9 | undervalue

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 23.4234.6724.1229.4638.0344.5852.2561.2371.7784.12
Revenue (%)
Operating Cash Flow 1616.7113.7815.2325.3226.0230.5035.7441.8949.10
Operating Cash Flow (%)
Capital Expenditure -1.59-3.24-3.34-2.68-4.09-4.45-5.21-6.11-7.16-8.39
Capital Expenditure (%)
Free Cash Flow 14.4013.4810.4312.5521.2321.5725.2929.6434.7440.71

Weighted Average Cost Of Capital

Share price $ 1.9
Beta 0.992
Diluted Shares Outstanding 52.93
Cost of Debt
Tax Rate 9.47
After-tax Cost of Debt 19.49%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.242
Total Debt 3.67
Total Equity 100.57
Total Capital 104.25
Debt Weighting 3.52
Equity Weighting 96.48
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 23.4234.6724.1229.4638.0344.5852.2561.2371.7784.12
Operating Cash Flow 1616.7113.7815.2325.3226.0230.5035.7441.8949.10
Capital Expenditure -1.59-3.24-3.34-2.68-4.09-4.45-5.21-6.11-7.16-8.39
Free Cash Flow 14.4013.4810.4312.5521.2321.5725.2929.6434.7440.71
WACC
PV LFCF 19.6921.0522.5124.0725.74
SUM PV LFCF 113.06

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 9.60
Free cash flow (t + 1) 41.53
Terminal Value 546.39
Present Value of Terminal Value 345.50

Intrinsic Value

Enterprise Value 458.56
Net Debt -6.04
Equity Value 464.60
Shares Outstanding 52.93
Equity Value Per Share 8.78