Discounted Cash Flow (DCF) Analysis Levered
Prothena Corporation plc (PRTA)
$57.75
+2.20 (+3.96%)
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 | 27.52 | 0.96 | 0.81 | 0.85 | 200.58 | 11,888.10 | 704,601.71 | 41,761,390.32 | 2,475,176,676.18 | 146,702,481,212.04 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -131.18 | -28.28 | -52.97 | -80.36 | 92.60 | -459,349.42 | -27,225,409.98 | -1,613,636,405.96 | -95,639,421,139.60 | -5,668,500,563,161.06 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -3.63 | -1.77 | -0.55 | -0.20 | -0.58 | -6,889.24 | -408,321.52 | -24,201,011.75 | -1,434,381,838.81 | -85,015,092,774.37 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -134.81 | -30.04 | -53.52 | -80.56 | 92.03 | -466,238.66 | -27,633,731.50 | -1,637,837,417.71 | -97,073,802,978.41 | -5,753,515,655,935.43 |
Weighted Average Cost Of Capital
| Share price | $ 57.75 |
|---|---|
| Beta | 0.502 |
| Diluted Shares Outstanding | 48.46 |
| Cost of Debt | |
| Tax Rate | 6.88 |
| After-tax Cost of Debt | 0.32% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 5.903 |
| Total Debt | 12.33 |
| Total Equity | 2,798.80 |
| Total Capital | 2,811.12 |
| Debt Weighting | 0.44 |
| Equity Weighting | 99.56 |
| 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 | 27.52 | 0.96 | 0.81 | 0.85 | 200.58 | 11,888.10 | 704,601.71 | 41,761,390.32 | 2,475,176,676.18 | 146,702,481,212.04 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -131.18 | -28.28 | -52.97 | -80.36 | 92.60 | -459,349.42 | -27,225,409.98 | -1,613,636,405.96 | -95,639,421,139.60 | -5,668,500,563,161.06 |
| Capital Expenditure | -3.63 | -1.77 | -0.55 | -0.20 | -0.58 | -6,889.24 | -408,321.52 | -24,201,011.75 | -1,434,381,838.81 | -85,015,092,774.37 |
| Free Cash Flow | -134.81 | -30.04 | -53.52 | -80.56 | 92.03 | -466,238.66 | -27,633,731.50 | -1,637,837,417.71 | -97,073,802,978.41 | -5,753,515,655,935.43 |
| WACC | ||||||||||
| PV LFCF | -440,346.29 | -24,649,701.71 | -1,379,840,827.06 | -77,240,720,004.02 | -4,323,780,475,062.37 | |||||
| SUM PV LFCF | -4,402,426,125,941.45 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 5.88 |
| Free cash flow (t + 1) | -5,868,585,969,054.14 |
| Terminal Value | -151,252,215,697,271.59 |
| Present Value of Terminal Value | -113,666,393,932,051.92 |
Intrinsic Value
| Enterprise Value | -118,068,820,057,993.38 |
|---|---|
| Net Debt | -566.77 |
| Equity Value | -118,068,820,057,426.61 |
| Shares Outstanding | 48.46 |
| Equity Value Per Share | -2,436,216,986,988.83 |