Discounted Cash Flow (DCF) Analysis Levered
TuanChe Limited (TC)
$0.4969
-0.03 (-5.35%)
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 | 44.91 | 104.16 | 103.16 | 52.84 | 57.21 | 70.15 | 86.02 | 105.48 | 129.34 | 158.59 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -9.55 | -8.53 | -25.89 | -14.22 | -14.76 | -15.05 | -18.45 | -22.63 | -27.74 | -34.02 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.04 | -3.31 | -2.12 | -0.33 | -0.15 | -0.87 | -1.07 | -1.31 | -1.61 | -1.97 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -9.59 | -11.85 | -28.01 | -14.54 | -14.92 | -15.92 | -19.52 | -23.94 | -29.35 | -35.99 |
Weighted Average Cost Of Capital
| Share price | $ 0.4,969 |
|---|---|
| Beta | 0.232 |
| Diluted Shares Outstanding | 19.03 |
| Cost of Debt | |
| Tax Rate | 0.00 |
| After-tax Cost of Debt | 5.00% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 4.784 |
| Total Debt | 1.77 |
| Total Equity | 9.45 |
| Total Capital | 11.22 |
| Debt Weighting | 15.77 |
| Equity Weighting | 84.23 |
| 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 | 44.91 | 104.16 | 103.16 | 52.84 | 57.21 | 70.15 | 86.02 | 105.48 | 129.34 | 158.59 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -9.55 | -8.53 | -25.89 | -14.22 | -14.76 | -15.05 | -18.45 | -22.63 | -27.74 | -34.02 |
| Capital Expenditure | -0.04 | -3.31 | -2.12 | -0.33 | -0.15 | -0.87 | -1.07 | -1.31 | -1.61 | -1.97 |
| Free Cash Flow | -9.59 | -11.85 | -28.01 | -14.54 | -14.92 | -15.92 | -19.52 | -23.94 | -29.35 | -35.99 |
| WACC | ||||||||||
| PV LFCF | -15.19 | -17.77 | -20.79 | -24.32 | -28.44 | |||||
| SUM PV LFCF | -106.50 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 4.82 |
| Free cash flow (t + 1) | -36.71 |
| Terminal Value | -1,301.89 |
| Present Value of Terminal Value | -1,028.86 |
Intrinsic Value
| Enterprise Value | -1,135.36 |
|---|---|
| Net Debt | -8.38 |
| Equity Value | -1,126.97 |
| Shares Outstanding | 19.03 |
| Equity Value Per Share | -59.23 |