Discounted Cash Flow (DCF) Analysis Levered
Rigel Pharmaceuticals, Inc. (RIGL)
$1.61
-0.01 (-0.62%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 44.51 | 59.29 | 108.62 | 149.24 | 120.24 | 160.64 | 214.60 | 286.69 | 383.01 | 511.67 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -58.83 | -41.51 | -52.18 | 5.88 | -73.76 | -98.83 | -132.03 | -176.39 | -235.65 | -314.81 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -1.11 | -1.45 | -1.26 | -0.63 | -0.45 | -2.22 | -2.96 | -3.95 | -5.28 | -7.06 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -59.93 | -42.96 | -53.45 | 5.25 | -74.21 | -101.05 | -134.99 | -180.34 | -240.93 | -321.87 |
Weighted Average Cost Of Capital
| Share price | $ 1.61 |
|---|---|
| Beta | 0.721 |
| Diluted Shares Outstanding | 172.41 |
| Cost of Debt | |
| Tax Rate | 0.00 |
| After-tax Cost of Debt | 176.10% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 7.148 |
| Total Debt | 2.10 |
| Total Equity | 277.57 |
| Total Capital | 279.68 |
| Debt Weighting | 0.75 |
| Equity Weighting | 99.25 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 44.51 | 59.29 | 108.62 | 149.24 | 120.24 | 160.64 | 214.60 | 286.69 | 383.01 | 511.67 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -58.83 | -41.51 | -52.18 | 5.88 | -73.76 | -98.83 | -132.03 | -176.39 | -235.65 | -314.81 |
| Capital Expenditure | -1.11 | -1.45 | -1.26 | -0.63 | -0.45 | -2.22 | -2.96 | -3.95 | -5.28 | -7.06 |
| Free Cash Flow | -59.93 | -42.96 | -53.45 | 5.25 | -74.21 | -101.05 | -134.99 | -180.34 | -240.93 | -321.87 |
| WACC | ||||||||||
| PV LFCF | -93.20 | -114.84 | -141.50 | -174.36 | -214.85 | |||||
| SUM PV LFCF | -738.75 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.42 |
| Free cash flow (t + 1) | -328.30 |
| Terminal Value | -5,113.76 |
| Present Value of Terminal Value | -3,413.44 |
Intrinsic Value
| Enterprise Value | -4,152.20 |
|---|---|
| Net Debt | -22.35 |
| Equity Value | -4,129.84 |
| Shares Outstanding | 172.41 |
| Equity Value Per Share | -23.95 |