Discounted Cash Flow (DCF) Analysis Levered
RADA Electronic Industries Ltd. (RADA)
$9.87
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 | 26.18 | 28.03 | 44.33 | 76.22 | 117.24 | 173.20 | 255.89 | 378.05 | 558.52 | 825.16 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 1.72 | -3.86 | -3.46 | 3.61 | -4.36 | -4.84 | -7.15 | -10.56 | -15.61 | -23.06 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -1.78 | -1.21 | -4.55 | -4.95 | -6.17 | -11.47 | -16.95 | -25.04 | -36.99 | -54.65 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -0.06 | -5.06 | -8.01 | -1.33 | -10.53 | -16.31 | -24.10 | -35.60 | -52.59 | -77.70 |
Weighted Average Cost Of Capital
| Share price | $ 9.87 |
|---|---|
| Beta | 0.954 |
| Diluted Shares Outstanding | 50.08 |
| Cost of Debt | |
| Tax Rate | -24.13 |
| After-tax Cost of Debt | 4.25% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.758 |
| Total Debt | 11.42 |
| Total Equity | 494.26 |
| Total Capital | 505.69 |
| Debt Weighting | 2.26 |
| Equity Weighting | 97.74 |
| 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 | 26.18 | 28.03 | 44.33 | 76.22 | 117.24 | 173.20 | 255.89 | 378.05 | 558.52 | 825.16 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 1.72 | -3.86 | -3.46 | 3.61 | -4.36 | -4.84 | -7.15 | -10.56 | -15.61 | -23.06 |
| Capital Expenditure | -1.78 | -1.21 | -4.55 | -4.95 | -6.17 | -11.47 | -16.95 | -25.04 | -36.99 | -54.65 |
| Free Cash Flow | -0.06 | -5.06 | -8.01 | -1.33 | -10.53 | -16.31 | -24.10 | -35.60 | -52.59 | -77.70 |
| WACC | ||||||||||
| PV LFCF | -15.01 | -20.41 | -27.75 | -37.73 | -51.30 | |||||
| SUM PV LFCF | -152.19 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.66 |
| Free cash flow (t + 1) | -79.26 |
| Terminal Value | -1,190.04 |
| Present Value of Terminal Value | -785.62 |
Intrinsic Value
| Enterprise Value | -937.81 |
|---|---|
| Net Debt | -67.32 |
| Equity Value | -870.49 |
| Shares Outstanding | 50.08 |
| Equity Value Per Share | -17.38 |