Discounted Cash Flow (DCF) Analysis Levered
Titan Pharmaceuticals, Inc. (TTNP)
$0.97
-0.02 (-2.02%)
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 | 0.21 | 5.91 | 3.61 | 4.84 | 1.53 | 11.35 | 84.46 | 628.40 | 4,675.15 | 34,782.11 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -13.04 | -8.43 | -15.44 | -17.20 | -7.90 | -170.47 | -1,268.28 | -9,435.72 | -70,199.71 | -522,270.64 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.18 | -0.42 | -0.26 | -0.54 | -0.02 | -2.46 | -18.28 | -135.97 | -1,011.62 | -7,526.25 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -13.21 | -8.85 | -15.70 | -17.74 | -7.92 | -172.93 | -1,286.56 | -9,571.69 | -71,211.33 | -529,796.88 |
Weighted Average Cost Of Capital
| Share price | $ 0.97 |
|---|---|
| Beta | 1.129 |
| Diluted Shares Outstanding | 9.73 |
| Cost of Debt | |
| Tax Rate | 0.00 |
| After-tax Cost of Debt | 0.33% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.971 |
| Total Debt | 0.30 |
| Total Equity | 9.44 |
| Total Capital | 9.74 |
| Debt Weighting | 3.07 |
| Equity Weighting | 96.93 |
| 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 | 0.21 | 5.91 | 3.61 | 4.84 | 1.53 | 11.35 | 84.46 | 628.40 | 4,675.15 | 34,782.11 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -13.04 | -8.43 | -15.44 | -17.20 | -7.90 | -170.47 | -1,268.28 | -9,435.72 | -70,199.71 | -522,270.64 |
| Capital Expenditure | -0.18 | -0.42 | -0.26 | -0.54 | -0.02 | -2.46 | -18.28 | -135.97 | -1,011.62 | -7,526.25 |
| Free Cash Flow | -13.21 | -8.85 | -15.70 | -17.74 | -7.92 | -172.93 | -1,286.56 | -9,571.69 | -71,211.33 | -529,796.88 |
| WACC | ||||||||||
| PV LFCF | -159.07 | -1,088.65 | -7,450.41 | -50,988.37 | -348,948.97 | |||||
| SUM PV LFCF | -408,635.48 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.71 |
| Free cash flow (t + 1) | -540,392.82 |
| Terminal Value | -8,053,544.29 |
| Present Value of Terminal Value | -5,304,440.38 |
Intrinsic Value
| Enterprise Value | -5,713,075.86 |
|---|---|
| Net Debt | -5.74 |
| Equity Value | -5,713,070.12 |
| Shares Outstanding | 9.73 |
| Equity Value Per Share | -587,160.34 |