Discounted Cash Flow (DCF) Analysis Unlevered

Blade Air Mobility, Inc. (BLDE)

$4.84

-0.01 (-0.21%)
All numbers are in Millions, Currency in USD
Stock DCF: -Infinity | 4.84 | overvalue

Operating Data

Year
A/P
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 23.4350.53108.94234.88506.431,091.922,354.28
Revenue (%)
EBITDA -9.43-42.64-67.90-146.39-315.64-680.55-1,467.33
EBITDA (%)
EBIT -9.96-43.24-69.76-150.41-324.31-699.24-1,507.64
EBIT (%)
Depreciation 0.530.601.874.028.6718.6940.31
Depreciation (%)

Balance Sheet Data

Year
A/P
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Total Cash 12.16304.13356.13767.861,655.583,569.587,696.37
Total Cash (%)
Account Receivables 1.093.766.6014.2230.6766.12142.57
Account Receivables (%)
Inventories -------
Inventories (%)
Accounts Payable 0.784.456.6014.2230.6766.12142.56
Accounts Payable (%)
Capital Expenditure -0.38-0.80-1.74-3.75-8.09-17.44-37.60
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 4.84
Beta -0.210
Diluted Shares Outstanding -
Cost of Debt
Tax Rate 8.34
After-tax Cost of Debt 64.57%
Risk-Free Rate
Market Risk Premium
Cost of Equity 2.415
Total Debt 0.65
Total Equity -
Total Capital 0.65
Debt Weighting 100.00
Equity Weighting 0.00
Wacc

Build Up Free Cash

Year
A/P
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 23.4350.53108.94234.88506.431,091.922,354.28
EBITDA -9.43-42.64-67.90-146.39-315.64-680.55-1,467.33
EBIT -9.96-43.24-69.76-150.41-324.31-699.24-1,507.64
Tax Rate 0.00%8.34%4.17%4.17%4.17%4.17%4.17%
EBIAT -9.96-39.63-66.85-144.14-310.79-670.09-1,444.79
Depreciation 0.530.601.874.028.6718.6940.31
Accounts Receivable --2.67-2.83-7.63-16.44-35.46-76.45
Inventories -------
Accounts Payable -3.672.157.6316.4435.4576.44
Capital Expenditure -0.38-0.80-1.74-3.75-8.09-17.44-37.60
UFCF -9.81-38.84-67.41-143.87-310.21-668.84-1,442.08
WACC
PV UFCF -182.57-236.77-310.21-406.42-532.46
SUM PV UFCF -374.33

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 64.57
Free cash flow (t + 1) -1,470.93
Terminal Value -2,350.85
Present Value of Terminal Value -194.75

Intrinsic Value

Enterprise Value -569.08
Net Debt -6.30
Equity Value -562.78
Shares Outstanding -
Equity Value Per Share -Infinity