Discounted Cash Flow (DCF) Analysis Unlevered

ImmuPharma plc (ALIMM.BR)

0.089 €

0.00 (-%)
All numbers are in Millions, Currency in USD
Stock DCF: -0.40 | 0.089 | 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 0.160.150.080.080.130.130.130.130.130.13
Revenue (%)
EBITDA -6.19-6.86-7.82-6.65-6.84-8.15-8.23-8.30-8.38-8.46
EBITDA (%)
EBIT -6.31-6.99-7.95-6.74-7.02-8.30-8.38-8.45-8.53-8.61
EBIT (%)
Depreciation 0.120.140.130.090.170.150.150.150.150.15
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 1.882.734.911.315.863.923.953.994.034.06
Total Cash (%)
Account Receivables ----------
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 0.600.750.720.330.420.640.650.650.660.66
Accounts Payable (%)
Capital Expenditure -0-0.03-0.10-0.11-0.36-0.15-0.15-0.15-0.15-0.15
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 0.089
Beta 1.258
Diluted Shares Outstanding 200.18
Cost of Debt
Tax Rate 5.33
After-tax Cost of Debt 34.04%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.471
Total Debt 0.64
Total Equity 17.82
Total Capital 18.46
Debt Weighting 3.48
Equity Weighting 96.52
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 0.160.150.080.080.130.130.130.130.130.13
EBITDA -6.19-6.86-7.82-6.65-6.84-8.15-8.23-8.30-8.38-8.46
EBIT -6.31-6.99-7.95-6.74-7.02-8.30-8.38-8.45-8.53-8.61
Tax Rate 15.69%11.06%9.41%9.20%5.33%10.14%10.14%10.14%10.14%10.14%
EBIAT -5.32-6.22-7.20-6.12-6.64-7.46-7.53-7.60-7.67-7.74
Depreciation 0.120.140.130.090.170.150.150.150.150.15
Accounts Receivable ----------
Inventories ----------
Accounts Payable -0.15-0.03-0.390.090.220.010.010.010.01
Capital Expenditure -0-0.03-0.10-0.11-0.36-0.15-0.15-0.15-0.15-0.15
UFCF -5.21-5.95-7.21-6.53-6.74-7.23-7.52-7.59-7.66-7.73
WACC
PV UFCF -6.55-6.18-5.65-5.17-4.73
SUM PV UFCF -28.28

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 10.33
Free cash flow (t + 1) -7.89
Terminal Value -94.67
Present Value of Terminal Value -57.91

Intrinsic Value

Enterprise Value -86.19
Net Debt -5.22
Equity Value -80.97
Shares Outstanding 200.18
Equity Value Per Share -0.40