Discounted Cash Flow (DCF) Analysis Levered
TELA Bio, Inc. (TELA)
$11.78
-0.29 (-2.40%)
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 | 4.25 | 8.27 | 15.45 | 18.21 | 29.46 | 48.71 | 80.52 | 133.12 | 220.07 | 363.82 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -16.37 | -19.92 | -25.52 | -24.46 | -30.43 | -100.26 | -165.75 | -274.01 | -453 | -748.89 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.11 | -1.56 | -2.70 | -0.17 | -0.63 | -4.10 | -6.78 | -11.20 | -18.52 | -30.61 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -16.48 | -21.49 | -28.22 | -24.62 | -31.06 | -104.36 | -172.52 | -285.21 | -471.51 | -779.50 |
Weighted Average Cost Of Capital
| Share price | $ 11.78 |
|---|---|
| Beta | 0.985 |
| Diluted Shares Outstanding | 12.93 |
| Cost of Debt | |
| Tax Rate | 0.00 |
| After-tax Cost of Debt | -11.42% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.166 |
| Total Debt | 31.49 |
| Total Equity | 152.37 |
| Total Capital | 183.86 |
| Debt Weighting | 17.13 |
| Equity Weighting | 82.87 |
| 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 | 4.25 | 8.27 | 15.45 | 18.21 | 29.46 | 48.71 | 80.52 | 133.12 | 220.07 | 363.82 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -16.37 | -19.92 | -25.52 | -24.46 | -30.43 | -100.26 | -165.75 | -274.01 | -453 | -748.89 |
| Capital Expenditure | -0.11 | -1.56 | -2.70 | -0.17 | -0.63 | -4.10 | -6.78 | -11.20 | -18.52 | -30.61 |
| Free Cash Flow | -16.48 | -21.49 | -28.22 | -24.62 | -31.06 | -104.36 | -172.52 | -285.21 | -471.51 | -779.50 |
| WACC | ||||||||||
| PV LFCF | -99.57 | -157.05 | -247.72 | -390.74 | -616.31 | |||||
| SUM PV LFCF | -1,511.39 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 4.81 |
| Free cash flow (t + 1) | -795.09 |
| Terminal Value | -28,295.03 |
| Present Value of Terminal Value | -22,371.57 |
Intrinsic Value
| Enterprise Value | -23,882.97 |
|---|---|
| Net Debt | -12.44 |
| Equity Value | -23,870.53 |
| Shares Outstanding | 12.93 |
| Equity Value Per Share | -1,845.50 |