Discounted Cash Flow (DCF) Analysis Levered
Proterra Inc. (PTRA)
$0.067
-0.02 (-25.56%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 196.94 | 242.86 | 309.36 | 387.79 | 486.09 | 609.31 | 763.76 | 957.37 |
|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||
| Operating Cash Flow | -76.07 | -126.26 | -296.61 | -241.06 | -302.17 | -378.77 | -474.78 | -595.13 |
| Operating Cash Flow (%) | ||||||||
| Capital Expenditure | -25.56 | -23.43 | -59.48 | -54.10 | -67.82 | -85.01 | -106.56 | -133.57 |
| Capital Expenditure (%) | ||||||||
| Free Cash Flow | -101.63 | -149.70 | -356.08 | -295.16 | -369.99 | -463.78 | -581.34 | -728.71 |
Weighted Average Cost Of Capital
| Share price | $ 0.067 |
|---|---|
| Beta | 1.090 |
| Diluted Shares Outstanding | 249.16 |
| Cost of Debt | |
| Tax Rate | -7.18 |
| After-tax Cost of Debt | 19.36% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 9.255 |
| Total Debt | 147.67 |
| Total Equity | 16.69 |
| Total Capital | 164.36 |
| Debt Weighting | 89.84 |
| Equity Weighting | 10.16 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 196.94 | 242.86 | 309.36 | 387.79 | 486.09 | 609.31 | 763.76 | 957.37 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -76.07 | -126.26 | -296.61 | -241.06 | -302.17 | -378.77 | -474.78 | -595.13 |
| Capital Expenditure | -25.56 | -23.43 | -59.48 | -54.10 | -67.82 | -85.01 | -106.56 | -133.57 |
| Free Cash Flow | -101.63 | -149.70 | -356.08 | -295.16 | -369.99 | -463.78 | -581.34 | -728.71 |
| WACC | ||||||||
| PV LFCF | -249.44 | -264.24 | -279.91 | -296.52 | -314.11 | |||
| SUM PV LFCF | -1,404.22 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 18.33 |
| Free cash flow (t + 1) | -743.28 |
| Terminal Value | -4,551.62 |
| Present Value of Terminal Value | -1,961.97 |
Intrinsic Value
| Enterprise Value | -3,366.18 |
|---|---|
| Net Debt | 73.97 |
| Equity Value | -3,440.16 |
| Shares Outstanding | 249.16 |
| Equity Value Per Share | -13.81 |