Discounted Cash Flow (DCF) Analysis Levered
XOMA Corporation (XOMA)
$21.77
+1.48 (+7.29%)
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 | 5.30 | 18.37 | 29.38 | 38.16 | 6.03 | 9.83 | 16.03 | 26.14 | 42.62 | 69.50 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -12.64 | -0.29 | 10.09 | 22.68 | -12.88 | -7.08 | -11.54 | -18.82 | -30.69 | -50.05 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -15.01 | -19.30 | -1.21 | -26.50 | -6.96 | -11.35 | -18.50 | -30.17 | -49.21 | -80.24 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -27.65 | -19.59 | 8.88 | -3.82 | -19.84 | -18.42 | -30.05 | -49 | -79.90 | -130.29 |
Weighted Average Cost Of Capital
| Share price | $ 21.77 |
|---|---|
| Beta | 0.888 |
| Diluted Shares Outstanding | 11.41 |
| Cost of Debt | |
| Tax Rate | 0.09 |
| After-tax Cost of Debt | 5.00% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 7.570 |
| Total Debt | 0.03 |
| Total Equity | 248.46 |
| Total Capital | 248.50 |
| Debt Weighting | 0.01 |
| Equity Weighting | 99.99 |
| 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 | 5.30 | 18.37 | 29.38 | 38.16 | 6.03 | 9.83 | 16.03 | 26.14 | 42.62 | 69.50 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -12.64 | -0.29 | 10.09 | 22.68 | -12.88 | -7.08 | -11.54 | -18.82 | -30.69 | -50.05 |
| Capital Expenditure | -15.01 | -19.30 | -1.21 | -26.50 | -6.96 | -11.35 | -18.50 | -30.17 | -49.21 | -80.24 |
| Free Cash Flow | -27.65 | -19.59 | 8.88 | -3.82 | -19.84 | -18.42 | -30.05 | -49 | -79.90 | -130.29 |
| WACC | ||||||||||
| PV LFCF | -17.13 | -25.97 | -39.36 | -59.67 | -90.46 | |||||
| SUM PV LFCF | -232.59 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.57 |
| Free cash flow (t + 1) | -132.90 |
| Terminal Value | -2,385.98 |
| Present Value of Terminal Value | -1,656.57 |
Intrinsic Value
| Enterprise Value | -1,889.17 |
|---|---|
| Net Debt | -57.79 |
| Equity Value | -1,831.37 |
| Shares Outstanding | 11.41 |
| Equity Value Per Share | -160.46 |