Discounted Cash Flow (DCF) Analysis Unlevered

BlueCity Holdings Limited (BLCT)

$1.54

0.00 (-%)
All numbers are in Millions, Currency in USD
Stock DCF: -126.44 | 1.54 | overvalue

Operating Data

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 80.21121.42165.01172.25224.89293.62383.34500.48653.42
Revenue (%)
EBITDA -22.74-7.90-34.83-46.72-46.71-60.99-79.63-103.96-135.73
EBITDA (%)
EBIT -23.13-8.32-35.73-49.11-48.27-63.02-82.27-107.41-140.24
EBIT (%)
Depreciation 0.390.420.902.391.552.032.653.464.51
Depreciation (%)

Balance Sheet Data

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Total Cash 69.5760.8597.8855.97128.56167.84219.13286.10373.52
Total Cash (%)
Account Receivables 4.723.987.162.068.2610.7914.0818.3924.01
Account Receivables (%)
Inventories --1.101.181.521.982.593.384.42
Inventories (%)
Accounts Payable 1.522.983.264.565.056.598.6011.2314.67
Accounts Payable (%)
Capital Expenditure -0.56-0.94-1.72-1.12-1.78-2.32-3.03-3.96-5.17
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 1.54
Beta 0.345
Diluted Shares Outstanding 31.43
Cost of Debt
Tax Rate -0.27
After-tax Cost of Debt 5.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.146
Total Debt -
Total Equity 48.40
Total Capital 48.40
Debt Weighting 0.00
Equity Weighting 100.00
Wacc

Build Up Free Cash

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 80.21121.42165.01172.25224.89293.62383.34500.48653.42
EBITDA -22.74-7.90-34.83-46.72-46.71-60.99-79.63-103.96-135.73
EBIT -23.13-8.32-35.73-49.11-48.27-63.02-82.27-107.41-140.24
Tax Rate 0.00%-1.79%0.65%-0.27%-0.35%-0.35%-0.35%-0.35%-0.35%
EBIAT -23.13-8.47-35.50-49.24-48.44-63.24-82.56-107.79-140.73
Depreciation 0.390.420.902.391.552.032.653.464.51
Accounts Receivable -0.74-3.195.10-6.20-2.52-3.30-4.30-5.62
Inventories ----0.09-0.34-0.46-0.61-0.79-1.03
Accounts Payable -1.460.281.300.491.542.012.633.43
Capital Expenditure -0.56-0.94-1.72-1.12-1.78-2.32-3.03-3.96-5.17
UFCF -23.30-6.79-39.22-41.65-54.71-64.98-84.84-110.76-144.61
WACC
PV UFCF -54.71-61.80-76.73-95.27-118.29
SUM PV UFCF -386.88

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.15
Free cash flow (t + 1) -147.50
Terminal Value -4,682.59
Present Value of Terminal Value -3,642.84

Intrinsic Value

Enterprise Value -4,029.72
Net Debt -55.97
Equity Value -3,973.76
Shares Outstanding 31.43
Equity Value Per Share -126.44