Discounted Cash Flow (DCF) Analysis Levered
Psychemedics Corporation (PMD)
$6.29
0.00 (0.00%)
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 | 39.70 | 42.67 | 37.68 | 21.36 | 24.91 | 22.98 | 21.21 | 19.57 | 18.06 | 16.66 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 9.15 | 7.93 | 4.31 | -4.08 | 0.41 | 1.64 | 1.51 | 1.39 | 1.29 | 1.19 |
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 | 7.90 | 6.60 | 2.58 | -5.07 | 0.05 | 0.86 | 0.79 | 0.73 | 0.67 | 0.62 |
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 | 39.70 | 42.67 | 37.68 | 21.36 | 24.91 | 22.98 | 21.21 | 19.57 | 18.06 | 16.66 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 9.15 | 7.93 | 4.31 | -4.08 | 0.41 | 1.64 | 1.51 | 1.39 | 1.29 | 1.19 |
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 | 7.90 | 6.60 | 2.58 | -5.07 | 0.05 | 0.86 | 0.79 | 0.73 | 0.67 | 0.62 |
WACC | ||||||||||
PV LFCF | 0.81 | 0.70 | 0.61 | 0.53 | 0.46 | |||||
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 |