Discounted Cash Flow (DCF) Analysis Unlevered

Avino Silver & Gold Mines Ltd. (ASM)

$0.6857

-0.00 (-0.62%)
All numbers are in Millions, Currency in USD
Stock DCF: -0.00 | 0.6857 | overvalue

Operating Data

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 33.3634.1231.7516.0211.238.8775.534.373.45
Revenue (%)
EBITDA 8.265.84-28.22-7.120.52-1.54-1.22-0.96-0.76-0.60
EBITDA (%)
EBIT ------1.54-1.22-0.96-0.76-0.60
EBIT (%)
Depreciation ----------
Depreciation (%)

Balance Sheet Data

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Total Cash 4.423.259.6211.7124.776.154.863.833.032.39
Total Cash (%)
Account Receivables 119.436.965.574.572.802.211.751.381.09
Account Receivables (%)
Inventories 9.109.235.591.665.182.281.801.421.120.89
Inventories (%)
Accounts Payable 3.515.894.912.073.261.511.190.940.740.59
Accounts Payable (%)
Capital Expenditure -6.61-9.42-3.28-2.01-1.91-1.55-1.22-0.97-0.76-0.60
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 0.6,857
Beta 1.549
Diluted Shares Outstanding 100.16
Cost of Debt
Tax Rate -27.13
After-tax Cost of Debt 2.25%
Risk-Free Rate
Market Risk Premium
Cost of Equity 10.986
Total Debt 1.07
Total Equity 68.68
Total Capital 69.75
Debt Weighting 1.53
Equity Weighting 98.47
Wacc

Build Up Free Cash

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 33.3634.1231.7516.0211.238.8775.534.373.45
EBITDA 8.265.84-28.22-7.120.52-1.54-1.22-0.96-0.76-0.60
EBIT ------1.54-1.22-0.96-0.76-0.60
Tax Rate 51.08%20.02%-960.01%13.94%-27.13%-180.42%-180.42%-180.42%-180.42%-180.42%
EBIAT ------4.32-3.41-2.69-2.13-1.68
Depreciation ----------
Accounts Receivable -1.572.471.3911.770.590.470.370.29
Inventories --0.133.643.93-3.522.900.480.380.300.24
Accounts Payable -2.37-0.98-2.841.19-1.75-0.32-0.25-0.20-0.16
Capital Expenditure -6.61-9.42-3.28-2.01-1.91-1.55-1.22-0.97-0.76-0.60
UFCF ------2.94-3.88-3.06-2.42-1.91
WACC
PV UFCF -2.66-3.16-2.25-1.60-1.14
SUM PV UFCF -10.81

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 10.85
Free cash flow (t + 1) -1.95
Terminal Value -22.02
Present Value of Terminal Value -13.16

Intrinsic Value

Enterprise Value -23.97
Net Debt -23.70
Equity Value -0.27
Shares Outstanding 100.16
Equity Value Per Share -0.00