Discounted Cash Flow (DCF) Analysis Levered
Energous Corporation (WATT)
$1.64
-0.03 (-1.80%)
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 | 0.51 | 0.20 | 0.33 | 0.76 | 0.85 | 1.16 | 1.59 | 2.17 | 2.96 | 4.04 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -32.53 | -26.62 | -24.79 | -28.72 | -23.64 | -78.49 | -107.16 | -146.30 | -199.74 | -272.70 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.86 | -0.20 | -0.14 | -0.37 | -0.16 | -0.87 | -1.19 | -1.62 | -2.22 | -3.02 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -33.39 | -26.82 | -24.93 | -29.09 | -23.80 | -79.36 | -108.35 | -147.92 | -201.96 | -275.73 |
Weighted Average Cost Of Capital
| Share price | $ 1.64 |
|---|---|
| Beta | 2.598 |
| Diluted Shares Outstanding | 77.49 |
| Cost of Debt | |
| Tax Rate | 1.56 |
| After-tax Cost of Debt | -20.54% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 16.859 |
| Total Debt | 1.97 |
| Total Equity | 127.08 |
| Total Capital | 129.05 |
| Debt Weighting | 1.53 |
| Equity Weighting | 98.47 |
| 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 | 0.51 | 0.20 | 0.33 | 0.76 | 0.85 | 1.16 | 1.59 | 2.17 | 2.96 | 4.04 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -32.53 | -26.62 | -24.79 | -28.72 | -23.64 | -78.49 | -107.16 | -146.30 | -199.74 | -272.70 |
| Capital Expenditure | -0.86 | -0.20 | -0.14 | -0.37 | -0.16 | -0.87 | -1.19 | -1.62 | -2.22 | -3.02 |
| Free Cash Flow | -33.39 | -26.82 | -24.93 | -29.09 | -23.80 | -79.36 | -108.35 | -147.92 | -201.96 | -275.73 |
| WACC | ||||||||||
| PV LFCF | -68.24 | -80.12 | -94.06 | -110.43 | -129.65 | |||||
| SUM PV LFCF | -482.50 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 16.29 |
| Free cash flow (t + 1) | -281.24 |
| Terminal Value | -1,968.10 |
| Present Value of Terminal Value | -925.41 |
Intrinsic Value
| Enterprise Value | -1,407.91 |
|---|---|
| Net Debt | -24.32 |
| Equity Value | -1,383.59 |
| Shares Outstanding | 77.49 |
| Equity Value Per Share | -17.86 |