Discounted Cash Flow (DCF) Analysis Levered
Takung Art Co., Ltd. (TKAT)
$0.63
-0.04 (-5.97%)
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 | 12.92 | 8.50 | 3.17 | 4.57 | 0.12 | 0.07 | 0.05 | 0.03 | 0.02 | 0.01 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -2.31 | -23.04 | 9.84 | -7.84 | -16.11 | -2.03 | -1.27 | -0.79 | -0.49 | -0.31 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.81 | -0.58 | -0.08 | -0.02 | -0.01 | -0 | -0 | -0 | -0 | -0 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -3.13 | -23.62 | 9.77 | -7.86 | -16.12 | -2.04 | -1.27 | -0.79 | -0.50 | -0.31 |
Weighted Average Cost Of Capital
| Share price | $ 0.63 |
|---|---|
| Beta | 2.895 |
| Diluted Shares Outstanding | 12.38 |
| Cost of Debt | |
| Tax Rate | -123.63 |
| After-tax Cost of Debt | 5.00% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 17.148 |
| Total Debt | 2.15 |
| Total Equity | 7.80 |
| Total Capital | 9.95 |
| Debt Weighting | 21.63 |
| Equity Weighting | 78.37 |
| 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 | 12.92 | 8.50 | 3.17 | 4.57 | 0.12 | 0.07 | 0.05 | 0.03 | 0.02 | 0.01 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -2.31 | -23.04 | 9.84 | -7.84 | -16.11 | -2.03 | -1.27 | -0.79 | -0.49 | -0.31 |
| Capital Expenditure | -0.81 | -0.58 | -0.08 | -0.02 | -0.01 | -0 | -0 | -0 | -0 | -0 |
| Free Cash Flow | -3.13 | -23.62 | 9.77 | -7.86 | -16.12 | -2.04 | -1.27 | -0.79 | -0.50 | -0.31 |
| WACC | ||||||||||
| PV LFCF | -1.78 | -0.97 | -0.53 | -0.29 | -0.16 | |||||
| SUM PV LFCF | -3.72 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 14.52 |
| Free cash flow (t + 1) | -0.32 |
| Terminal Value | -2.52 |
| Present Value of Terminal Value | -1.28 |
Intrinsic Value
| Enterprise Value | -5 |
|---|---|
| Net Debt | 0.65 |
| Equity Value | -5.65 |
| Shares Outstanding | 12.38 |
| Equity Value Per Share | -0.46 |