Discounted Cash Flow (DCF) Analysis Levered

Psychemedics Corporation (PMD)

$6.29

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: 1.95 | 6.29 | overvalue

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 39.7042.6737.6821.3624.9122.9821.2119.5718.0616.66
Revenue (%)
Operating Cash Flow 9.157.934.31-4.080.411.641.511.391.291.19
Operating Cash Flow (%)
Capital Expenditure -1.25-1.32-1.73-0.99-0.36-0.78-0.72-0.66-0.61-0.56
Capital Expenditure (%)
Free Cash Flow 7.906.602.58-5.070.050.860.790.730.670.62

Weighted Average Cost Of Capital

Share price $ 6.29
Beta 0.695
Diluted Shares Outstanding 5.54
Cost of Debt
Tax Rate 19.00
After-tax Cost of Debt 4.05%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.443
Total Debt 5.79
Total Equity 34.83
Total Capital 40.62
Debt Weighting 14.26
Equity Weighting 85.74
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 39.7042.6737.6821.3624.9122.9821.2119.5718.0616.66
Operating Cash Flow 9.157.934.31-4.080.411.641.511.391.291.19
Capital Expenditure -1.25-1.32-1.73-0.99-0.36-0.78-0.72-0.66-0.61-0.56
Free Cash Flow 7.906.602.58-5.070.050.860.790.730.670.62
WACC
PV LFCF 0.810.700.610.530.46
SUM PV LFCF 3.12

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.10
Free cash flow (t + 1) 0.63
Terminal Value 15.47
Present Value of Terminal Value 11.50

Intrinsic Value

Enterprise Value 14.62
Net Debt 3.80
Equity Value 10.82
Shares Outstanding 5.54
Equity Value Per Share 1.95