Discounted Cash Flow (DCF) Analysis Levered
Vroom, Inc. (VRM)
$0.93
+0.05 (+5.11%)
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 | 855.43 | 1,191.82 | 1,357.70 | 3,184.26 | 1,948.90 | 2,674.77 | 3,670.98 | 5,038.24 | 6,914.73 | 9,490.12 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -64.91 | -215.64 | -355.25 | -568.69 | -109.07 | -402.83 | -552.87 | -758.79 | -1,041.39 | -1,429.26 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -2.06 | -3.53 | -11.33 | -28.41 | -24.23 | -18.76 | -25.75 | -35.34 | -48.50 | -66.57 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -66.97 | -219.16 | -366.58 | -597.10 | -133.30 | -421.60 | -578.62 | -794.13 | -1,089.90 | -1,495.83 |
Weighted Average Cost Of Capital
| Share price | $ 0.93 |
|---|---|
| Beta | 1.637 |
| Diluted Shares Outstanding | 137.91 |
| Cost of Debt | |
| Tax Rate | 4.17 |
| After-tax Cost of Debt | 8.14% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 11.433 |
| Total Debt | 479.25 |
| Total Equity | 128.25 |
| Total Capital | 607.51 |
| Debt Weighting | 78.89 |
| Equity Weighting | 21.11 |
| 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 | 855.43 | 1,191.82 | 1,357.70 | 3,184.26 | 1,948.90 | 2,674.77 | 3,670.98 | 5,038.24 | 6,914.73 | 9,490.12 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -64.91 | -215.64 | -355.25 | -568.69 | -109.07 | -402.83 | -552.87 | -758.79 | -1,041.39 | -1,429.26 |
| Capital Expenditure | -2.06 | -3.53 | -11.33 | -28.41 | -24.23 | -18.76 | -25.75 | -35.34 | -48.50 | -66.57 |
| Free Cash Flow | -66.97 | -219.16 | -366.58 | -597.10 | -133.30 | -421.60 | -578.62 | -794.13 | -1,089.90 | -1,495.83 |
| WACC | ||||||||||
| PV LFCF | -387.39 | -488.54 | -616.09 | -776.95 | -979.80 | |||||
| SUM PV LFCF | -3,248.76 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.83 |
| Free cash flow (t + 1) | -1,525.75 |
| Terminal Value | -22,338.89 |
| Present Value of Terminal Value | -14,632.50 |
Intrinsic Value
| Enterprise Value | -17,881.26 |
|---|---|
| Net Debt | 80.34 |
| Equity Value | -17,961.60 |
| Shares Outstanding | 137.91 |
| Equity Value Per Share | -130.24 |