Discounted Cash Flow (DCF) Analysis Levered

Tantech Holdings Ltd (TANH)

$0.188

-0.00 (-1.05%)
All numbers are in Millions, Currency in USD
Stock DCF: 181.09 | 0.188 | undervalue

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 42.3029.5649.2342.2855.2662.5970.8880.2890.92102.96
Revenue (%)
Operating Cash Flow 2.3014.6614.7014.17-8.0912.9914.7116.6618.8721.37
Operating Cash Flow (%)
Capital Expenditure -0.08-0.56-0.09-0.14-0.22-0.38-0.43-0.49-0.55-0.62
Capital Expenditure (%)
Free Cash Flow 2.2214.1014.6014.03-8.3112.6114.2816.1818.3220.75

Weighted Average Cost Of Capital

Share price $ 0.188
Beta 0.018
Diluted Shares Outstanding 2.96
Cost of Debt
Tax Rate -1.15
After-tax Cost of Debt 5.75%
Risk-Free Rate
Market Risk Premium
Cost of Equity 4.049
Total Debt 12.87
Total Equity 0.56
Total Capital 13.42
Debt Weighting 95.86
Equity Weighting 4.14
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 42.3029.5649.2342.2855.2662.5970.8880.2890.92102.96
Operating Cash Flow 2.3014.6614.7014.17-8.0912.9914.7116.6618.8721.37
Capital Expenditure -0.08-0.56-0.09-0.14-0.22-0.38-0.43-0.49-0.55-0.62
Free Cash Flow 2.2214.1014.6014.03-8.3112.6114.2816.1818.3220.75
WACC
PV LFCF 11.9312.7913.7114.6915.74
SUM PV LFCF 68.86

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.68
Free cash flow (t + 1) 21.16
Terminal Value 575.09
Present Value of Terminal Value 436.28

Intrinsic Value

Enterprise Value 505.14
Net Debt -30.28
Equity Value 535.42
Shares Outstanding 2.96
Equity Value Per Share 181.09