Discounted Cash Flow (DCF) Analysis Levered
Veru Inc. (VERU)
$13.38
-0.91 (-6.37%)
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 | 13.66 | 15.86 | 31.80 | 42.59 | 61.26 | 91.03 | 135.27 | 201.01 | 298.70 | 443.87 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 0.98 | -11.55 | -5.49 | -1.93 | -15.57 | -20.53 | -30.51 | -45.34 | -67.37 | -100.12 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.13 | -0.05 | -0.11 | -0.11 | -0.38 | -0.46 | -0.68 | -1.01 | -1.49 | -2.22 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 0.85 | -11.60 | -5.59 | -2.04 | -15.95 | -20.99 | -31.19 | -46.35 | -68.87 | -102.34 |
Weighted Average Cost Of Capital
| Share price | $ 13.38 |
|---|---|
| Beta | 0.475 |
| Diluted Shares Outstanding | 83.80 |
| Cost of Debt | |
| Tax Rate | -73.36 |
| After-tax Cost of Debt | 35.56% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 5.027 |
| Total Debt | 13.74 |
| Total Equity | 1,121.28 |
| Total Capital | 1,135.02 |
| Debt Weighting | 1.21 |
| Equity Weighting | 98.79 |
| 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 | 13.66 | 15.86 | 31.80 | 42.59 | 61.26 | 91.03 | 135.27 | 201.01 | 298.70 | 443.87 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 0.98 | -11.55 | -5.49 | -1.93 | -15.57 | -20.53 | -30.51 | -45.34 | -67.37 | -100.12 |
| Capital Expenditure | -0.13 | -0.05 | -0.11 | -0.11 | -0.38 | -0.46 | -0.68 | -1.01 | -1.49 | -2.22 |
| Free Cash Flow | 0.85 | -11.60 | -5.59 | -2.04 | -15.95 | -20.99 | -31.19 | -46.35 | -68.87 | -102.34 |
| WACC | ||||||||||
| PV LFCF | -19.91 | -28.07 | -39.58 | -55.80 | -78.68 | |||||
| SUM PV LFCF | -222.05 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 5.40 |
| Free cash flow (t + 1) | -104.39 |
| Terminal Value | -3,070.17 |
| Present Value of Terminal Value | -2,360.25 |
Intrinsic Value
| Enterprise Value | -2,582.30 |
|---|---|
| Net Debt | -108.62 |
| Equity Value | -2,473.68 |
| Shares Outstanding | 83.80 |
| Equity Value Per Share | -29.52 |