Discounted Cash Flow (DCF) Analysis Levered
UTStarcom Holdings Corp. (UTSI)
$3.7122
+0.27 (+7.91%)
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 | 115.94 | 65.82 | 24.31 | 15.92 | 14.02 | 8.67 | 5.36 | 3.31 | 2.05 | 1.27 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | -26.11 | -24.15 | -3.40 | 18.98 | 7.26 | 1.70 | 1.05 | 0.65 | 0.40 | 0.25 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -0.22 | -0.51 | -0.11 | -0.35 | -0.25 | -0.09 | -0.06 | -0.04 | -0.02 | -0.01 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | -26.33 | -24.65 | -3.51 | 18.63 | 7.01 | 1.60 | 0.99 | 0.61 | 0.38 | 0.23 |
Weighted Average Cost Of Capital
Share price | $ 3.7,122 |
---|---|
Beta | 0.738 |
Diluted Shares Outstanding | 9.06 |
Cost of Debt | |
Tax Rate | -67.77 |
After-tax Cost of Debt | -46.38% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 8.080 |
Total Debt | 3.12 |
Total Equity | 33.62 |
Total Capital | 36.74 |
Debt Weighting | 8.50 |
Equity Weighting | 91.50 |
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 | 115.94 | 65.82 | 24.31 | 15.92 | 14.02 | 8.67 | 5.36 | 3.31 | 2.05 | 1.27 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | -26.11 | -24.15 | -3.40 | 18.98 | 7.26 | 1.70 | 1.05 | 0.65 | 0.40 | 0.25 |
Capital Expenditure | -0.22 | -0.51 | -0.11 | -0.35 | -0.25 | -0.09 | -0.06 | -0.04 | -0.02 | -0.01 |
Free Cash Flow | -26.33 | -24.65 | -3.51 | 18.63 | 7.01 | 1.60 | 0.99 | 0.61 | 0.38 | 0.23 |
WACC | ||||||||||
PV LFCF | 1.55 | 0.93 | 0.55 | 0.33 | 0.20 | |||||
SUM PV LFCF | 3.56 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 3.45 |
Free cash flow (t + 1) | 0.24 |
Terminal Value | 16.46 |
Present Value of Terminal Value | 13.89 |
Intrinsic Value
Enterprise Value | 17.45 |
---|---|
Net Debt | -51.38 |
Equity Value | 68.83 |
Shares Outstanding | 9.06 |
Equity Value Per Share | 7.60 |