Discounted Cash Flow (DCF) Analysis Levered
UTStarcom Holdings Corp. (UTSI)
$3.7021
-0.11 (-2.83%)
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 | 98.29 | 115.94 | 65.62 | 24.31 | 15.92 | 11.03 | 7.64 | 5.29 | 3.67 | 2.54 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 3.84 | -26.11 | -24.15 | -3.40 | 19.83 | 1.22 | 0.84 | 0.58 | 0.40 | 0.28 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -0.73 | -0.22 | -0.51 | -0.11 | -0.35 | -0.10 | -0.07 | -0.05 | -0.03 | -0.02 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 3.11 | -26.33 | -24.65 | -3.51 | 19.48 | 1.12 | 0.78 | 0.54 | 0.37 | 0.26 |
Weighted Average Cost Of Capital
Share price | $ 3.7,021 |
---|---|
Beta | 0.742 |
Diluted Shares Outstanding | 9.01 |
Cost of Debt | |
Tax Rate | -129.99 |
After-tax Cost of Debt | 23.15% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 7.197 |
Total Debt | 4.91 |
Total Equity | 33.34 |
Total Capital | 38.25 |
Debt Weighting | 12.83 |
Equity Weighting | 87.17 |
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 | 98.29 | 115.94 | 65.62 | 24.31 | 15.92 | 11.03 | 7.64 | 5.29 | 3.67 | 2.54 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 3.84 | -26.11 | -24.15 | -3.40 | 19.83 | 1.22 | 0.84 | 0.58 | 0.40 | 0.28 |
Capital Expenditure | -0.73 | -0.22 | -0.51 | -0.11 | -0.35 | -0.10 | -0.07 | -0.05 | -0.03 | -0.02 |
Free Cash Flow | 3.11 | -26.33 | -24.65 | -3.51 | 19.48 | 1.12 | 0.78 | 0.54 | 0.37 | 0.26 |
WACC | ||||||||||
PV LFCF | 1.03 | 0.65 | 0.41 | 0.26 | 0.17 | |||||
SUM PV LFCF | 2.52 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 9.24 |
Free cash flow (t + 1) | 0.26 |
Terminal Value | 3.63 |
Present Value of Terminal Value | 2.34 |
Intrinsic Value
Enterprise Value | 4.85 |
---|---|
Net Debt | -48.89 |
Equity Value | 53.74 |
Shares Outstanding | 9.01 |
Equity Value Per Share | 5.97 |