Discounted Cash Flow (DCF) Analysis Unlevered

Envirotech Vehicles, Inc. (ADOM)

$0.28

+0.01 (+3.13%)
All numbers are in Millions, Currency in USD
Stock DCF: -8,894.58 | 0.28 | overvalue

Operating Data

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 0.070.425.0112.560.623.1816.3984.37434.432,236.93
Revenue (%)
EBITDA -9.52-21.56-10.82-5.06-4.29-127.47-656.38-3,379.75-17,402.75-89,608.82
EBITDA (%)
EBIT -9.54-21.58-10.86-5.11-4.34-127.68-657.42-3,385.14-17,430.51-89,751.75
EBIT (%)
Depreciation 0.010.020.040.050.040.201.055.3927.76142.93
Depreciation (%)

Balance Sheet Data

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Total Cash 0.942.457.717.20013.7971.01365.621,882.639,693.86
Total Cash (%)
Account Receivables 0.4511.300.7005.9530.62157.67811.874,180.41
Account Receivables (%)
Inventories 0.310.2212.9032.331.598.1942.17217.131,118.025,756.81
Inventories (%)
Accounts Payable 0.110.030.340.4201.115.7229.46151.67780.98
Accounts Payable (%)
Capital Expenditure -0.41-0.11-0.08-0.01-0.01-4.04-20.80-107.13-551.60-2,840.26
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 0.28
Beta 1.664
Diluted Shares Outstanding 73.39
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 24,019.61%
Risk-Free Rate
Market Risk Premium
Cost of Equity 11.732
Total Debt 0
Total Equity 20.55
Total Capital 20.55
Debt Weighting 0.00
Equity Weighting 100.00
Wacc

Build Up Free Cash

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 0.070.425.0112.560.623.1816.3984.37434.432,236.93
EBITDA -9.52-21.56-10.82-5.06-4.29-127.47-656.38-3,379.75-17,402.75-89,608.82
EBIT -9.54-21.58-10.86-5.11-4.34-127.68-657.42-3,385.14-17,430.51-89,751.75
Tax Rate 0.00%-0.01%0.00%0.00%0.00%-0.00%-0.00%-0.00%-0.00%-0.00%
EBIAT -9.54-21.58-10.86-5.11-4.34-127.68-657.44-3,385.24-17,430.99-89,754.21
Depreciation 0.010.020.040.050.040.201.055.3927.76142.93
Accounts Receivable --0.55-0.300.600.70-5.95-24.67-127.05-654.20-3,368.54
Inventories -0.09-12.67-19.4330.74-6.60-33.98-174.96-900.89-4,638.79
Accounts Payable --0.080.310.08-0.421.114.6123.74122.22629.31
Capital Expenditure -0.41-0.11-0.08-0.01-0.01-4.04-20.80-107.13-551.60-2,840.26
UFCF -9.94-22.21-23.55-23.8326.71-142.95-731.24-3,765.25-19,387.70-99,829.57
WACC
PV UFCF -127.67-583.25-2,682.18-12,334.44-56,721.90
SUM PV UFCF -72,449.45

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 11.97
Free cash flow (t + 1) -101,826.16
Terminal Value -1,021,325.57
Present Value of Terminal Value -580,304.33

Intrinsic Value

Enterprise Value -652,753.79
Net Debt -0
Equity Value -652,753.78
Shares Outstanding 73.39
Equity Value Per Share -8,894.58