Discounted Cash Flow (DCF) Analysis Levered
Sarepta Therapeutics, Inc. (SRPT)
$119
-1.25 (-1.04%)
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 | 154.58 | 301.03 | 380.83 | 540.10 | 701.89 | 1,040.59 | 1,542.73 | 2,287.18 | 3,390.87 | 5,027.15 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -232 | -388.66 | -456.46 | 107.47 | -443.17 | -920.48 | -1,364.66 | -2,023.18 | -2,999.48 | -4,446.89 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -21.21 | -64.35 | -62.71 | -82.20 | -38.49 | -150.41 | -222.98 | -330.59 | -490.11 | -726.62 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -253.21 | -453.01 | -519.18 | 25.26 | -481.66 | -1,070.88 | -1,587.64 | -2,353.77 | -3,489.59 | -5,173.51 |
Weighted Average Cost Of Capital
| Share price | $ 119 |
|---|---|
| Beta | 1.008 |
| Diluted Shares Outstanding | 81.26 |
| Cost of Debt | |
| Tax Rate | 0.04 |
| After-tax Cost of Debt | 5.58% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.292 |
| Total Debt | 1,138.39 |
| Total Equity | 9,670.18 |
| Total Capital | 10,808.57 |
| Debt Weighting | 10.53 |
| Equity Weighting | 89.47 |
| 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 | 154.58 | 301.03 | 380.83 | 540.10 | 701.89 | 1,040.59 | 1,542.73 | 2,287.18 | 3,390.87 | 5,027.15 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -232 | -388.66 | -456.46 | 107.47 | -443.17 | -920.48 | -1,364.66 | -2,023.18 | -2,999.48 | -4,446.89 |
| Capital Expenditure | -21.21 | -64.35 | -62.71 | -82.20 | -38.49 | -150.41 | -222.98 | -330.59 | -490.11 | -726.62 |
| Free Cash Flow | -253.21 | -453.01 | -519.18 | 25.26 | -481.66 | -1,070.88 | -1,587.64 | -2,353.77 | -3,489.59 | -5,173.51 |
| WACC | ||||||||||
| PV LFCF | -849.86 | -1,166.53 | -1,601.19 | -2,197.81 | -3,016.74 | |||||
| SUM PV LFCF | -10,303.72 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.01 |
| Free cash flow (t + 1) | -5,276.98 |
| Terminal Value | -87,803.34 |
| Present Value of Terminal Value | -59,729.82 |
Intrinsic Value
| Enterprise Value | -70,033.54 |
|---|---|
| Net Debt | -977.48 |
| Equity Value | -69,056.06 |
| Shares Outstanding | 81.26 |
| Equity Value Per Share | -849.80 |