Discounted Cash Flow (DCF) Analysis Levered
Uxin Limited (UXIN)
$1.41
+0.05 (+3.68%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 312.22 | 530.47 | 254.08 | 276.70 | 301.33 | 328.15 | 357.36 | 389.16 | 423.80 | 461.52 | 502.60 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | |||||||||||
| Operating Cash Flow | -293.48 | -365.01 | -191.06 | -219.52 | -239.05 | -260.33 | -283.50 | -308.74 | -336.22 | -366.14 | -398.73 |
| Operating Cash Flow (%) | |||||||||||
| Capital Expenditure | -12.99 | -21.43 | -7.49 | -10.28 | -11.20 | -12.20 | -13.28 | -14.46 | -15.75 | -17.15 | -18.68 |
| Capital Expenditure (%) | |||||||||||
| Free Cash Flow | -306.47 | -386.44 | -198.55 | -229.80 | -250.25 | -272.53 | -296.78 | -323.20 | -351.97 | -383.29 | -417.41 |
Weighted Average Cost Of Capital
| Share price | $ 1.41 |
|---|---|
| Beta | 0.623 |
| Diluted Shares Outstanding | 44.36 |
| Cost of Debt | |
| Tax Rate | 0.06 |
| After-tax Cost of Debt | 3.51% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 6.630 |
| Total Debt | 187.95 |
| Total Equity | 62.55 |
| Total Capital | 250.51 |
| Debt Weighting | 75.03 |
| Equity Weighting | 24.97 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 312.22 | 530.47 | 254.08 | 276.70 | 301.33 | 328.15 | 357.36 | 389.16 | 423.80 | 461.52 | 502.60 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -293.48 | -365.01 | -191.06 | -219.52 | -239.05 | -260.33 | -283.50 | -308.74 | -336.22 | -366.14 | -398.73 |
| Capital Expenditure | -12.99 | -21.43 | -7.49 | -10.28 | -11.20 | -12.20 | -13.28 | -14.46 | -15.75 | -17.15 | -18.68 |
| Free Cash Flow | -306.47 | -386.44 | -198.55 | -229.80 | -250.25 | -272.53 | -296.78 | -323.20 | -351.97 | -383.29 | -417.41 |
| WACC | |||||||||||
| PV LFCF | -239.66 | -250.25 | -261.32 | -272.87 | -284.93 | -297.53 | -310.68 | -324.42 | |||
| SUM PV LFCF | -1,554.38 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 4.29 |
| Free cash flow (t + 1) | -425.76 |
| Terminal Value | -18,592.07 |
| Present Value of Terminal Value | -15,070.04 |
Intrinsic Value
| Enterprise Value | -16,624.42 |
|---|---|
| Net Debt | 167.47 |
| Equity Value | -16,791.89 |
| Shares Outstanding | 44.36 |
| Equity Value Per Share | -378.50 |