Discounted Cash Flow (DCF) Analysis Unlevered

Assembly Biosciences, Inc. (ASMB)

$1.66

+0.01 (+0.61%)
All numbers are in Millions, Currency in USD
Stock DCF: - | 1.66 | undervalue

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 9.0214.8015.9679.106.2512.1223.5045.5688.33171.23
Revenue (%)
EBITDA -51.64-89.01-97.91-61.46-132.39-96.55-187.17-362.84-703.39-1,363.59
EBITDA (%)
EBIT -51.86-89.65-98.41-62.15-132.55-96.87-187.80-364.06-705.77-1,368.19
EBIT (%)
Depreciation 0.220.640.490.690.170.330.631.222.374.60
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 119.95218.08274.04216.4145.63133.92259.62503.29975.661,891.41
Total Cash (%)
Account Receivables 2.272.433.371.230.341.693.286.3512.3123.86
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 2.123.691.734.602.662.615.069.8119.0236.87
Accounts Payable (%)
Capital Expenditure -0.86-0.34-1.55-2.22-0.38-0.74-1.44-2.78-5.39-10.46
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 1.66
Beta 0.718
Diluted Shares Outstanding 35.43
Cost of Debt
Tax Rate 1.91
After-tax Cost of Debt -%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.353
Total Debt 6.48
Total Equity 58.81
Total Capital 65.29
Debt Weighting 9.92
Equity Weighting 90.08
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 9.0214.8015.9679.106.2512.1223.5045.5688.33171.23
EBITDA -51.64-89.01-97.91-61.46-132.39-96.55-187.17-362.84-703.39-1,363.59
EBIT -51.86-89.65-98.41-62.15-132.55-96.87-187.80-364.06-705.77-1,368.19
Tax Rate 17.45%-1.23%0.79%0.00%1.91%3.78%3.78%3.78%3.78%3.78%
EBIAT -42.81-90.75-97.63-62.15-130.02-93.21-180.69-350.28-679.05-1,316.40
Depreciation 0.220.640.490.690.170.330.631.222.374.60
Accounts Receivable --0.16-0.942.140.89-1.35-1.59-3.07-5.96-11.55
Inventories ----------
Accounts Payable -1.57-1.962.87-1.94-0.052.454.759.2117.85
Capital Expenditure -0.86-0.34-1.55-2.22-0.38-0.74-1.44-2.78-5.39-10.46
UFCF -43.45-89.04-101.60-58.67-131.28-95.02-180.63-350.17-678.83-1,315.96
WACC
PV UFCF -----
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -
Free cash flow (t + 1) -1,342.28
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt -39.15
Equity Value -
Shares Outstanding 35.43
Equity Value Per Share -