Discounted Cash Flow (DCF) Analysis Unlevered
ENGAGE XR Holdings plc (6VR.IR)
0.21 €
0.00 (0.00%)
All numbers are in Millions, Currency in USD
Operating Data
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected |
| Revenue | 0.62 | 0.72 | 1.02 | 1.42 | 1.87 | 2.47 | 3.26 | 4.30 | 5.68 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | |||||||||
| EBITDA | -0.54 | -4.69 | -1.44 | -2.07 | -4.81 | -6.34 | -8.37 | -11.05 | -14.59 |
| EBITDA (%) | |||||||||
| EBIT | -0.57 | -4.92 | -1.93 | -2.72 | -5.42 | -7.16 | -9.45 | -12.47 | -16.46 |
| EBIT (%) | |||||||||
| Depreciation | 0.04 | 0.23 | 0.49 | 0.65 | 0.62 | 0.81 | 1.07 | 1.42 | 1.87 |
| Depreciation (%) |
Balance Sheet Data
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected |
| Total Cash | 0.01 | 3.49 | 1.29 | 2.03 | 3.54 | 4.67 | 6.17 | 8.14 | 10.75 |
|---|---|---|---|---|---|---|---|---|---|
| Total Cash (%) | |||||||||
| Account Receivables | - | - | - | - | - | - | - | - | - |
| Account Receivables (%) | |||||||||
| Inventories | - | - | - | - | - | - | - | - | - |
| Inventories (%) | |||||||||
| Accounts Payable | - | 0.03 | 0.03 | 0.02 | 0.05 | 0.07 | 0.09 | 0.12 | 0.15 |
| Accounts Payable (%) | |||||||||
| Capital Expenditure | -0.43 | -0.75 | -0.93 | -0.13 | -1.27 | -1.68 | -2.22 | -2.93 | -3.86 |
| Capital Expenditure (%) |
Weighted Average Cost Of Capital
| Share price | $ 0.21 |
|---|---|
| Beta | 1.515 |
| Diluted Shares Outstanding | 241.75 |
| Cost of Debt | |
| Tax Rate | 0.00 |
| After-tax Cost of Debt | 5.83% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 10.000 |
| Total Debt | 0.06 |
| Total Equity | 50.77 |
| Total Capital | 50.83 |
| Debt Weighting | 0.12 |
| Equity Weighting | 99.88 |
| Wacc |
Build Up Free Cash
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected |
| Revenue | 0.62 | 0.72 | 1.02 | 1.42 | 1.87 | 2.47 | 3.26 | 4.30 | 5.68 |
|---|---|---|---|---|---|---|---|---|---|
| EBITDA | -0.54 | -4.69 | -1.44 | -2.07 | -4.81 | -6.34 | -8.37 | -11.05 | -14.59 |
| EBIT | -0.57 | -4.92 | -1.93 | -2.72 | -5.42 | -7.16 | -9.45 | -12.47 | -16.46 |
| Tax Rate | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| EBIAT | -0.57 | -4.92 | -1.93 | -2.72 | -5.42 | -7.16 | -9.45 | -12.47 | -16.46 |
| Depreciation | 0.04 | 0.23 | 0.49 | 0.65 | 0.62 | 0.81 | 1.07 | 1.42 | 1.87 |
| Accounts Receivable | - | - | - | - | - | - | - | - | - |
| Inventories | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | - | -0 | -0 | 0.03 | 0.02 | 0.02 | 0.03 | 0.04 |
| Capital Expenditure | -0.43 | -0.75 | -0.93 | -0.13 | -1.27 | -1.68 | -2.22 | -2.93 | -3.86 |
| UFCF | -0.97 | -5.44 | -2.37 | -2.20 | -6.05 | -8.01 | -10.57 | -13.95 | -18.41 |
| WACC | |||||||||
| PV UFCF | -6.05 | -7.28 | -8.73 | -10.48 | -12.58 | ||||
| SUM PV UFCF | -41.02 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 10.00 |
| Free cash flow (t + 1) | -18.78 |
| Terminal Value | -234.76 |
| Present Value of Terminal Value | -145.77 |
Intrinsic Value
| Enterprise Value | -186.79 |
|---|---|
| Net Debt | -1.97 |
| Equity Value | -184.81 |
| Shares Outstanding | 241.75 |
| Equity Value Per Share | -0.76 |