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 |