Discounted Cash Flow (DCF) Analysis Unlevered
Avalon GloboCare Corp. (AVCO)
$0.5259
-0.10 (-16.52%)
All numbers are in Millions, Currency in USD
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 | 1.08 | 1.56 | 1.55 | 1.38 | 1.39 | 1.51 | 1.64 | 1.78 | 1.93 | 2.09 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| EBITDA | -3.14 | -6.94 | -17.48 | -12.13 | -8.45 | -10.13 | -10.99 | -11.92 | -12.94 | -14.04 |
| EBITDA (%) | ||||||||||
| EBIT | -3.33 | -7.46 | -17.99 | -12.51 | -8.89 | -10.55 | -11.45 | -12.43 | -13.48 | -14.63 |
| EBIT (%) | ||||||||||
| Depreciation | 0.18 | 0.52 | 0.51 | 0.38 | 0.44 | 0.43 | 0.47 | 0.51 | 0.55 | 0.59 |
| 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 | 3.03 | 2.25 | 0.76 | 0.73 | 0.81 | 1.77 | 1.92 | 2.08 | 2.26 | 2.45 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Cash (%) | ||||||||||
| Account Receivables | 0.05 | 0.05 | 0.24 | 0.04 | 0.07 | 0.09 | 0.10 | 0.11 | 0.12 | 0.13 |
| Account Receivables (%) | ||||||||||
| Inventories | 0 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Inventories (%) | ||||||||||
| Accounts Payable | 0 | 0.01 | 0.08 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.04 | 0.04 |
| Accounts Payable (%) | ||||||||||
| Capital Expenditure | -0.93 | -0.11 | -0.38 | -0.54 | -0.55 | -0.59 | -0.64 | -0.70 | -0.76 | -0.82 |
| Capital Expenditure (%) |
Weighted Average Cost Of Capital
| Share price | $ 0.5,259 |
|---|---|
| Beta | 0.806 |
| Diluted Shares Outstanding | 84.91 |
| Cost of Debt | |
| Tax Rate | 0.00 |
| After-tax Cost of Debt | 6.08% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 7.300 |
| Total Debt | 3.30 |
| Total Equity | 44.65 |
| Total Capital | 47.95 |
| Debt Weighting | 6.88 |
| Equity Weighting | 93.12 |
| 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 | 1.08 | 1.56 | 1.55 | 1.38 | 1.39 | 1.51 | 1.64 | 1.78 | 1.93 | 2.09 |
|---|---|---|---|---|---|---|---|---|---|---|
| EBITDA | -3.14 | -6.94 | -17.48 | -12.13 | -8.45 | -10.13 | -10.99 | -11.92 | -12.94 | -14.04 |
| EBIT | -3.33 | -7.46 | -17.99 | -12.51 | -8.89 | -10.55 | -11.45 | -12.43 | -13.48 | -14.63 |
| Tax Rate | 14.45% | 3.45% | 0.00% | 0.00% | 0.00% | 3.58% | 3.58% | 3.58% | 3.58% | 3.58% |
| EBIAT | -2.85 | -7.20 | -17.99 | -12.51 | -8.89 | -10.18 | -11.04 | -11.98 | -13 | -14.11 |
| Depreciation | 0.18 | 0.52 | 0.51 | 0.38 | 0.44 | 0.43 | 0.47 | 0.51 | 0.55 | 0.59 |
| Accounts Receivable | - | -0 | -0.19 | 0.21 | -0.03 | -0.03 | -0.01 | -0.01 | -0.01 | -0.01 |
| Inventories | - | -0.01 | 0 | 0 | -0 | -0 | -0 | -0 | -0 | -0 |
| Accounts Payable | - | 0.01 | 0.08 | -0.06 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Expenditure | -0.93 | -0.11 | -0.38 | -0.54 | -0.02 | -0.59 | -0.64 | -0.70 | -0.76 | -0.82 |
| UFCF | -3.59 | -6.80 | -17.97 | -12.52 | -9.03 | -10.37 | -11.23 | -12.18 | -13.22 | -14.34 |
| WACC | ||||||||||
| PV UFCF | -9.67 | -9.77 | -9.88 | -10 | -10.12 | |||||
| SUM PV UFCF | -49.44 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.22 |
| Free cash flow (t + 1) | -14.63 |
| Terminal Value | -280.24 |
| Present Value of Terminal Value | -197.77 |
Intrinsic Value
| Enterprise Value | -247.20 |
|---|---|
| Net Debt | 2.49 |
| Equity Value | -249.69 |
| Shares Outstanding | 84.91 |
| Equity Value Per Share | -2.94 |