Discounted Cash Flow (DCF) Analysis Levered
Software Acquisition Group Inc. III (SWAG)
$9.73
+0.64 (+7.04%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 30.32 | 37.75 | 39.70 | 45.60 | 52.37 | 60.14 | 69.07 | 79.32 |
|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||
| Operating Cash Flow | 0.87 | -1.99 | -0.47 | -0.55 | -0.63 | -0.72 | -0.83 | -0.95 |
| Operating Cash Flow (%) | ||||||||
| Capital Expenditure | -0.12 | -0.18 | -0.39 | -0.28 | -0.32 | -0.37 | -0.42 | -0.49 |
| Capital Expenditure (%) | ||||||||
| Free Cash Flow | 0.75 | -2.17 | -0.86 | -0.82 | -0.95 | -1.09 | -1.25 | -1.43 |
Weighted Average Cost Of Capital
| Share price | $ 9.73 |
|---|---|
| Beta | 0.000 |
| Diluted Shares Outstanding | 14.34 |
| Cost of Debt | |
| Tax Rate | -84.16 |
| After-tax Cost of Debt | 5.00% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 3.395 |
| Total Debt | - |
| Total Equity | 139.50 |
| Total Capital | 139.50 |
| Debt Weighting | 0.00 |
| Equity Weighting | 100.00 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 30.32 | 37.75 | 39.70 | 45.60 | 52.37 | 60.14 | 69.07 | 79.32 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 0.87 | -1.99 | -0.47 | -0.55 | -0.63 | -0.72 | -0.83 | -0.95 |
| Capital Expenditure | -0.12 | -0.18 | -0.39 | -0.28 | -0.32 | -0.37 | -0.42 | -0.49 |
| Free Cash Flow | 0.75 | -2.17 | -0.86 | -0.82 | -0.95 | -1.09 | -1.25 | -1.43 |
| WACC | ||||||||
| PV LFCF | -0.75 | -0.83 | -0.92 | -1.02 | -1.13 | |||
| SUM PV LFCF | -4.97 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 3.40 |
| Free cash flow (t + 1) | -1.46 |
| Terminal Value | -104.48 |
| Present Value of Terminal Value | -88.39 |
Intrinsic Value
| Enterprise Value | -93.36 |
|---|---|
| Net Debt | -32.23 |
| Equity Value | -61.14 |
| Shares Outstanding | 14.34 |
| Equity Value Per Share | -4.26 |