Discounted Cash Flow (DCF) Analysis Levered
TELA Bio, Inc. (TELA)
$10.64
-0.60 (-5.34%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 8.27 | 15.45 | 18.21 | 29.46 | 41.42 | 62.85 | 95.36 | 144.69 | 219.55 | 333.13 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -19.92 | -25.52 | -24.46 | -30.43 | -40.75 | -93.26 | -141.51 | -214.72 | -325.81 | -494.37 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -1.56 | -2.70 | -0.17 | -0.63 | -0.87 | -5.21 | -7.91 | -12.01 | -18.22 | -27.64 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -21.49 | -28.22 | -24.62 | -31.06 | -41.62 | -98.48 | -149.42 | -226.73 | -344.03 | -522.01 |
Weighted Average Cost Of Capital
| Share price | $ 10.64 |
|---|---|
| Beta | 0.979 |
| Diluted Shares Outstanding | 16.27 |
| Cost of Debt | |
| Tax Rate | 0.00 |
| After-tax Cost of Debt | 10.15% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.113 |
| Total Debt | 39.92 |
| Total Equity | 173.09 |
| Total Capital | 213 |
| Debt Weighting | 18.74 |
| Equity Weighting | 81.26 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 8.27 | 15.45 | 18.21 | 29.46 | 41.42 | 62.85 | 95.36 | 144.69 | 219.55 | 333.13 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -19.92 | -25.52 | -24.46 | -30.43 | -40.75 | -93.26 | -141.51 | -214.72 | -325.81 | -494.37 |
| Capital Expenditure | -1.56 | -2.70 | -0.17 | -0.63 | -0.87 | -5.21 | -7.91 | -12.01 | -18.22 | -27.64 |
| Free Cash Flow | -21.49 | -28.22 | -24.62 | -31.06 | -41.62 | -98.48 | -149.42 | -226.73 | -344.03 | -522.01 |
| WACC | ||||||||||
| PV LFCF | -90.77 | -126.95 | -177.56 | -248.33 | -347.32 | |||||
| SUM PV LFCF | -990.93 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.49 |
| Free cash flow (t + 1) | -532.45 |
| Terminal Value | -8,204.16 |
| Present Value of Terminal Value | -5,458.65 |
Intrinsic Value
| Enterprise Value | -6,449.59 |
|---|---|
| Net Debt | -2.10 |
| Equity Value | -6,447.48 |
| Shares Outstanding | 16.27 |
| Equity Value Per Share | -396.34 |