Discounted Cash Flow (DCF) Analysis Levered

Unisync Corp. (UNI.TO)

$1.99

-0.01 (-0.50%)

All numbers are in Millions, Currency in USD

Stock DCF: -1.58 | 1.99 | overvalue

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	76.84	77.99	93.10	86.29	96.31	102.37	108.81	115.66	122.93	130.67
Revenue (%)
Operating Cash Flow	8.99	-8.08	2.49	9.17	-3.08	2.34	2.49	2.64	2.81	2.99
Operating Cash Flow (%)
Capital Expenditure	-0.42	-2.55	-1.82	-1.50	-0.68	-1.68	-1.79	-1.90	-2.02	-2.15
Capital Expenditure (%)
Free Cash Flow	8.57	-10.63	0.67	7.67	-3.76	0.66	0.70	0.74	0.79	0.84

Weighted Average Cost Of Capital

Share price	$ 1.99
Beta	1.554
Diluted Shares Outstanding	19.02
Cost of Debt
Tax Rate	-23.99
After-tax Cost of Debt	3.83%
Risk-Free Rate
Market Risk Premium
Cost of Equity	10.899
Total Debt	45.30
Total Equity	37.85
Total Capital	83.15
Debt Weighting	54.48
Equity Weighting	45.52
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	76.84	77.99	93.10	86.29	96.31	102.37	108.81	115.66	122.93	130.67
Operating Cash Flow	8.99	-8.08	2.49	9.17	-3.08	2.34	2.49	2.64	2.81	2.99
Capital Expenditure	-0.42	-2.55	-1.82	-1.50	-0.68	-1.68	-1.79	-1.90	-2.02	-2.15
Free Cash Flow	8.57	-10.63	0.67	7.67	-3.76	0.66	0.70	0.74	0.79	0.84
WACC
PV LFCF						0.62	0.61	0.61	0.60	0.60
SUM PV LFCF										3.03

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%)	7.05
Free cash flow (t + 1)	0.86
Terminal Value	16.98
Present Value of Terminal Value	12.08

Intrinsic Value

Enterprise Value	15.11
Net Debt	45.20
Equity Value	-30.09
Shares Outstanding	19.02
Equity Value Per Share	-1.58