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 | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 151.86 | 21.19 | 31.43 | 39.99 | 52.90 | 55.79 | 58.82 | 62.03 | 65.41 | 68.97 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -99.18 | -111.77 | -173 | -159.54 | -281.82 | -231.48 | -244.09 | -257.39 | -271.41 | -286.20 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -10.97 | -11.19 | -11.44 | -37.58 | -8.87 | -23.12 | -24.38 | -25.70 | -27.11 | -28.58 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -110.15 | -122.96 | -184.44 | -197.12 | -290.69 | -254.60 | -268.47 | -283.10 | -298.52 | -314.78 |
Weighted Average Cost Of Capital
| Share price | $ 0.3,073 |
|---|---|
| Beta | 0.000 |
| Diluted Shares Outstanding | 294.77 |
| Cost of Debt | |
| Tax Rate | 7.39 |
| After-tax Cost of Debt | 3.98% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 3.745 |
| Total Debt | 237.58 |
| Total Equity | 90.58 |
| Total Capital | 328.16 |
| Debt Weighting | 72.40 |
| Equity Weighting | 27.60 |
| 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 | 151.86 | 21.19 | 31.43 | 39.99 | 52.90 | 55.79 | 58.82 | 62.03 | 65.41 | 68.97 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -99.18 | -111.77 | -173 | -159.54 | -281.82 | -231.48 | -244.09 | -257.39 | -271.41 | -286.20 |
| Capital Expenditure | -10.97 | -11.19 | -11.44 | -37.58 | -8.87 | -23.12 | -24.38 | -25.70 | -27.11 | -28.58 |
| Free Cash Flow | -110.15 | -122.96 | -184.44 | -197.12 | -290.69 | -254.60 | -268.47 | -283.10 | -298.52 | -314.78 |
| WACC | ||||||||||
| PV LFCF | -235.76 | -239.22 | -242.74 | -246.31 | -249.93 | |||||
| SUM PV LFCF | -1,261.53 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 3.92 |
| Free cash flow (t + 1) | -321.07 |
| Terminal Value | -16,722.61 |
| Present Value of Terminal Value | -13,797.76 |
Intrinsic Value
| Enterprise Value | -15,059.29 |
|---|---|
| Net Debt | 200.91 |
| Equity Value | -15,260.20 |
| Shares Outstanding | 294.77 |
| Equity Value Per Share | -51.77 |