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 | 6.120 |
| 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 | -9.11 | -10.17 | -11.35 | -12.66 | -14.14 | |||
| SUM PV LFCF | -57.42 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.03 |
| Free cash flow (t + 1) | -20.25 |
| Terminal Value | -402.60 |
| Present Value of Terminal Value | -286.64 |
Intrinsic Value
| Enterprise Value | -344.06 |
|---|---|
| Net Debt | -12.47 |
| Equity Value | -331.59 |
| Shares Outstanding | 26.26 |
| Equity Value Per Share | -12.63 |