Discounted Cash Flow (DCF) Analysis Levered
Sorrento Therapeutics, Inc. (SRNE)
$0.3073
0.00 (0.00%)
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 | 21.19 | 31.43 | 39.99 | 52.90 | 62.84 | 82.73 | 108.92 | 143.39 | 188.78 | 248.53 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -111.77 | -173 | -159.54 | -281.82 | -293.86 | -409.85 | -539.59 | -710.38 | -935.24 | -1,231.28 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -11.20 | -11.44 | -37.58 | -8.87 | -13.66 | -36.68 | -48.30 | -63.58 | -83.71 | -110.20 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -122.96 | -184.44 | -197.11 | -290.69 | -307.51 | -446.54 | -587.88 | -773.97 | -1,018.95 | -1,341.48 |
Weighted Average Cost Of Capital
| Share price | $ 0.3,073 |
|---|---|
| Beta | 0.000 |
| Diluted Shares Outstanding | 419.31 |
| Cost of Debt | |
| Tax Rate | 0.43 |
| After-tax Cost of Debt | 6.34% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 4.562 |
| Total Debt | 134.50 |
| Total Equity | 128.86 |
| Total Capital | 263.36 |
| Debt Weighting | 51.07 |
| Equity Weighting | 48.93 |
| 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 | 21.19 | 31.43 | 39.99 | 52.90 | 62.84 | 82.73 | 108.92 | 143.39 | 188.78 | 248.53 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -111.77 | -173 | -159.54 | -281.82 | -293.86 | -409.85 | -539.59 | -710.38 | -935.24 | -1,231.28 |
| Capital Expenditure | -11.20 | -11.44 | -37.58 | -8.87 | -13.66 | -36.68 | -48.30 | -63.58 | -83.71 | -110.20 |
| Free Cash Flow | -122.96 | -184.44 | -197.11 | -290.69 | -307.51 | -446.54 | -587.88 | -773.97 | -1,018.95 | -1,341.48 |
| WACC | ||||||||||
| PV LFCF | -324.40 | -404.94 | -505.46 | -630.95 | -787.58 | |||||
| SUM PV LFCF | -3,462.88 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 5.47 |
| Free cash flow (t + 1) | -1,368.31 |
| Terminal Value | -39,432.67 |
| Present Value of Terminal Value | -30,214.22 |
Intrinsic Value
| Enterprise Value | -33,677.10 |
|---|---|
| Net Debt | 110.87 |
| Equity Value | -33,787.97 |
| Shares Outstanding | 419.31 |
| Equity Value Per Share | -80.58 |