Discounted Cash Flow (DCF) Analysis Levered

Sunworks, Inc. (SUNW)

$ 2.0406
-0.12 (-5.53%)
All numbers are in Millions, Currency in USD
Stock DCF: 1.38 | 2.0406 | overvalue

Free Cash Flow

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 86.4277.4570.9659.8337.9131.1825.6421.0817.3414.25
Revenue (%)
Operating Cash Flow 1.83-4.09-5.75-6.46-4.34-2.09-1.72-1.41-1.16-0.96
Operating Cash Flow (%)
Capital Expenditure -0.67-0.07-0.01-0.02-0.03-0.06-0.05-0.04-0.03-0.03
Capital Expenditure (%)
Free Cash Flow 1.16-4.16-5.76-6.48-4.36-2.15-1.77-1.45-1.20-0.98

Weighted Average Cost Of Capital

Share price $ 2.0,406
Beta 1.456
Diluted Shares Outstanding 15.60
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 20.42%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.676
Total Debt 3.50
Total Equity 31.83
Total Capital 35.33
Debt Weighting 9.90
Equity Weighting 90.10
Wacc

Build Up Free Cash Flow

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 86.4277.4570.9659.8337.9131.1825.6421.0817.3414.25
Operating Cash Flow 1.83-4.09-5.75-6.46-4.34-2.09-1.72-1.41-1.16-0.96
Capital Expenditure -0.67-0.07-0.01-0.02-0.03-0.06-0.05-0.04-0.03-0.03
Free Cash Flow 1.16-4.16-5.76-6.48-4.36-2.15-1.77-1.45-1.20-0.98
WACC
PV LFCF -1.96-1.47-1.10-0.82-0.61
SUM PV LFCF -5.96

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 9.84
Free cash flow (t + 1) -1
Terminal Value -12.79
Present Value of Terminal Value -8

Intrinsic Value

Enterprise Value -13.96
Net Debt -35.49
Equity Value 21.54
Shares Outstanding 15.60
Equity Value Per Share 1.38