Discounted Cash Flow (DCF) Analysis Levered
Sol-Gel Technologies Ltd. (SLGL)
$4.32
-0.10 (-2.26%)
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 | 0.13 | 22.90 | 8.77 | 31.27 | 3.88 | 176.31 | 8,005.50 | 363,495.61 | 16,504,780.50 | 749,411,476.22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -23.47 | -22.50 | -25.24 | -7.69 | -9.48 | -6,645.61 | -301,748.59 | -13,701,112.61 | -622,108,911.45 | -28,247,304,336.68 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -1.05 | -0.60 | -0.45 | -0.14 | -0.17 | -292 | -13,258.56 | -602,014.62 | -27,334,908.49 | -1,241,161,257.93 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -24.52 | -23.10 | -25.69 | -7.83 | -9.65 | -6,937.61 | -315,007.15 | -14,303,127.23 | -649,443,819.94 | -29,488,465,594.61 |
Weighted Average Cost Of Capital
| Share price | $ 4.32 |
|---|---|
| Beta | 1.321 |
| Diluted Shares Outstanding | 23.13 |
| Cost of Debt | |
| Tax Rate | 0.00 |
| After-tax Cost of Debt | 171.11% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 9.725 |
| Total Debt | 0.77 |
| Total Equity | 99.92 |
| Total Capital | 100.69 |
| Debt Weighting | 0.77 |
| Equity Weighting | 99.23 |
| 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 | 0.13 | 22.90 | 8.77 | 31.27 | 3.88 | 176.31 | 8,005.50 | 363,495.61 | 16,504,780.50 | 749,411,476.22 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -23.47 | -22.50 | -25.24 | -7.69 | -9.48 | -6,645.61 | -301,748.59 | -13,701,112.61 | -622,108,911.45 | -28,247,304,336.68 |
| Capital Expenditure | -1.05 | -0.60 | -0.45 | -0.14 | -0.17 | -292 | -13,258.56 | -602,014.62 | -27,334,908.49 | -1,241,161,257.93 |
| Free Cash Flow | -24.52 | -23.10 | -25.69 | -7.83 | -9.65 | -6,937.61 | -315,007.15 | -14,303,127.23 | -649,443,819.94 | -29,488,465,594.61 |
| WACC | ||||||||||
| PV LFCF | -6,252.35 | -255,851.24 | -10,469,637.81 | -428,425,977.39 | -17,531,534,662.10 | |||||
| SUM PV LFCF | -17,970,692,380.88 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 10.96 |
| Free cash flow (t + 1) | -30,078,234,906.50 |
| Terminal Value | -335,694,586,010.09 |
| Present Value of Terminal Value | -199,577,738,340.85 |
Intrinsic Value
| Enterprise Value | -217,548,430,721.72 |
|---|---|
| Net Debt | -11.68 |
| Equity Value | -217,548,430,710.05 |
| Shares Outstanding | 23.13 |
| Equity Value Per Share | -9,405,985,800.26 |