Discounted Cash Flow (DCF) Analysis Levered
Plus Therapeutics, Inc. (PSTV)
$1.32
+0.13 (+10.92%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 2.98 | 7 | 0.30 | 0.36 | 0.43 | 0.52 | 0.62 | 0.74 | 0.88 | 1.05 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | -11.98 | -5.91 | -8.43 | -10.28 | -12.97 | -9.41 | -11.24 | -13.43 | -16.05 | -19.17 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -0.13 | -0.07 | -0.49 | -0.14 | -0.51 | -0.34 | -0.40 | -0.48 | -0.57 | -0.69 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | -12.11 | -5.97 | -8.93 | -10.42 | -13.48 | -9.75 | -11.64 | -13.91 | -16.62 | -19.85 |
Weighted Average Cost Of Capital
Share price | $ 1.32 |
---|---|
Beta | 0.334 |
Diluted Shares Outstanding | 26.26 |
Cost of Debt | |
Tax Rate | -2.78 |
After-tax Cost of Debt | 12.60% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 6.175 |
Total Debt | 5.64 |
Total Equity | 34.66 |
Total Capital | 40.30 |
Debt Weighting | 14.01 |
Equity Weighting | 85.99 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 2.98 | 7 | 0.30 | 0.36 | 0.43 | 0.52 | 0.62 | 0.74 | 0.88 | 1.05 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | -11.98 | -5.91 | -8.43 | -10.28 | -12.97 | -9.41 | -11.24 | -13.43 | -16.05 | -19.17 |
Capital Expenditure | -0.13 | -0.07 | -0.49 | -0.14 | -0.51 | -0.34 | -0.40 | -0.48 | -0.57 | -0.69 |
Free Cash Flow | -12.11 | -5.97 | -8.93 | -10.42 | -13.48 | -9.75 | -11.64 | -13.91 | -16.62 | -19.85 |
WACC | ||||||||||
PV LFCF | -11.16 | -13.48 | -9.10 | -10.16 | -11.33 | -12.64 | -14.10 | |||
SUM PV LFCF | -57.33 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 7.08 |
Free cash flow (t + 1) | -20.25 |
Terminal Value | -398.63 |
Present Value of Terminal Value | -283.16 |
Intrinsic Value
Enterprise Value | -340.49 |
---|---|
Net Debt | -12.47 |
Equity Value | -328.02 |
Shares Outstanding | 26.26 |
Equity Value Per Share | -12.49 |