Discounted Cash Flow (DCF) Analysis Unlevered
Beamr Imaging Ltd. (BMR)
$4.04
-0.92 (-18.55%)
All numbers are in Millions, Currency in USD
Operating Data
Year A/P | 2013 Actual | 2014 Actual | 2015 Projected | 2016 Projected | 2017 Projected | 2018 Projected | 2019 Projected | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 45.30 | 674.61 | 10,046.30 | 149,609.78 | 2,227,993.49 | 33,179,347.95 | 494,107,875.22 | 7,358,269,750.66 | 109,579,580,571.01 | 1,631,862,500,968.33 | 24,301,746,805,290.23 | 361,902,364,591,375.81 | 5,389,461,199,896,859 | 80,260,022,777,109,712 |
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Revenue (%) | ||||||||||||||
EBITDA | 400.19 | 548.65 | 48,460.80 | 721,679.80 | 10,747,277.86 | 160,048,794.06 | 2,383,451,588.30 | 35,494,434,725.43 | 528,584,219,064.10 | 7,871,692,528,840.71 | 117,225,488,453,511.98 | 1,745,725,597,489,548.50 | 25,997,399,558,192,576 | 387,154,077,800,224,256 |
EBITDA (%) | ||||||||||||||
EBIT | 155.19 | 294.30 | 19,399.84 | 288,902.95 | 4,302,351.73 | 64,070,754.90 | 954,143,662.39 | 14,209,136,912.95 | 211,602,906,112.09 | 3,151,197,018,467.13 | 46,927,723,402,512.36 | 698,849,107,446,144.25 | 10,407,282,509,513,896 | 154,985,572,820,783,328 |
EBIT (%) | ||||||||||||||
Depreciation | 245 | 254.34 | 29,060.97 | 432,776.84 | 6,444,926.13 | 95,978,039.16 | 1,429,307,925.90 | 21,285,297,812.48 | 316,981,312,952 | 4,720,495,510,373.58 | 70,297,765,050,999.63 | 1,046,876,490,043,404.25 | 15,590,117,048,678,682 | 232,168,504,979,440,928 |
Depreciation (%) |
Balance Sheet Data
Year A/P | 2013 Actual | 2014 Actual | 2015 Projected | 2016 Projected | 2017 Projected | 2018 Projected | 2019 Projected | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Total Cash | 54.27 | 105.28 | 6,801.94 | 101,294.66 | 1,508,483.22 | 22,464,378.80 | 334,540,223.42 | 4,981,983,347.78 | 74,191,850,008.19 | 1,104,867,323,592.11 | 16,453,718,334,382.74 | 245,029,282,020,061.47 | 3,648,983,641,697,863.50 | 54,340,777,182,248,944 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Total Cash (%) | ||||||||||||||
Account Receivables | 8.42 | 14.63 | 1,042.72 | 15,528.16 | 231,245.85 | 3,443,720.36 | 51,283,990.01 | 763,722,764.35 | 11,373,383,013.41 | 169,372,771,387 | 2,522,304,546,807.62 | 37,562,237,275,492.66 | 559,377,998,555,390.94 | 8,330,274,444,860,817 |
Account Receivables (%) | ||||||||||||||
Inventories | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Inventories (%) | ||||||||||||||
Accounts Payable | 314.38 | 381.28 | 37,699.78 | 561,426.32 | 8,360,778.09 | 124,508,965.77 | 1,854,191,366.86 | 27,612,675,148.40 | 411,208,811,817.75 | 6,123,734,336,054.25 | 91,194,841,017,148.19 | 1,358,076,391,259,906.75 | 20,224,515,596,783,788 | 301,184,111,407,081,216 |
Accounts Payable (%) | ||||||||||||||
Capital Expenditure | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Capital Expenditure (%) |
Weighted Average Cost Of Capital
Share price | $ 4.04 |
---|---|
Beta | 0.000 |
Diluted Shares Outstanding | 2.58 |
Cost of Debt | |
Tax Rate | -5.78 |
After-tax Cost of Debt | 11.61% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 3.810 |
Total Debt | 0.51 |
Total Equity | 10.42 |
Total Capital | 10.93 |
Debt Weighting | 4.65 |
Equity Weighting | 95.35 |
Wacc |
Build Up Free Cash
Year A/P | 2013 Actual | 2014 Actual | 2015 Projected | 2016 Projected | 2017 Projected | 2018 Projected | 2019 Projected | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 45.30 | 674.61 | 10,046.30 | 149,609.78 | 2,227,993.49 | 33,179,347.95 | 494,107,875.22 | 7,358,269,750.66 | 109,579,580,571.01 | 1,631,862,500,968.33 | 24,301,746,805,290.23 | 361,902,364,591,375.81 | 5,389,461,199,896,859 | 80,260,022,777,109,712 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
EBITDA | 400.19 | 548.65 | 48,460.80 | 721,679.80 | 10,747,277.86 | 160,048,794.06 | 2,383,451,588.30 | 35,494,434,725.43 | 528,584,219,064.10 | 7,871,692,528,840.71 | 117,225,488,453,511.98 | 1,745,725,597,489,548.50 | 25,997,399,558,192,576 | 387,154,077,800,224,256 |
EBIT | 155.19 | 294.30 | 19,399.84 | 288,902.95 | 4,302,351.73 | 64,070,754.90 | 954,143,662.39 | 14,209,136,912.95 | 211,602,906,112.09 | 3,151,197,018,467.13 | 46,927,723,402,512.36 | 698,849,107,446,144.25 | 10,407,282,509,513,896 | 154,985,572,820,783,328 |
Tax Rate | -0.54% | 1.21% | -2.28% | -2.28% | -2.28% | -2.28% | -2.28% | -4.02% | -5.78% | -2.28% | -2.28% | -2.28% | -2.28% | -2.28% |
EBIAT | 156.02 | 290.73 | 19,842.22 | 295,490.90 | 4,400,459.62 | 65,531,780.73 | 975,901,304.28 | 14,780,147,068.08 | 223,828,851,798.57 | 3,223,054,767,931.19 | 47,997,831,228,654.19 | 714,785,186,270,081.38 | 10,644,603,087,944,162 | 158,519,758,210,345,952 |
Depreciation | 245 | 254.34 | 29,060.97 | 432,776.84 | 6,444,926.13 | 95,978,039.16 | 1,429,307,925.90 | 21,285,297,812.48 | 316,981,312,952 | 4,720,495,510,373.58 | 70,297,765,050,999.63 | 1,046,876,490,043,404.25 | 15,590,117,048,678,682 | 232,168,504,979,440,928 |
Accounts Receivable | - | -6.21 | -1,028.09 | -14,485.44 | -215,717.69 | -3,212,474.51 | -47,840,269.65 | -712,438,774.35 | -10,609,660,249.06 | -157,999,388,373.59 | -2,352,931,775,420.62 | -35,039,932,728,685.04 | -521,815,761,279,898.31 | -7,770,896,446,305,425 |
Inventories | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Accounts Payable | - | 66.90 | 37,318.50 | 523,726.54 | 7,799,351.77 | 116,148,187.68 | 1,729,682,401.09 | 25,758,483,781.53 | 383,596,136,669.35 | 5,712,525,524,236.50 | 85,071,106,681,093.95 | 1,266,881,550,242,758.50 | 18,866,439,205,523,880 | 280,959,595,810,297,472 |
Capital Expenditure | - | - | - | - | - | - | - | -0.01 | -0 | - | - | - | - | - |
UFCF | 401.02 | 605.76 | 85,193.60 | 1,237,508.84 | 18,429,019.84 | 274,445,533.07 | 4,087,051,361.63 | 61,111,489,887.75 | 913,796,641,170.86 | 13,498,076,414,167.69 | 201,013,771,185,327.19 | 2,993,503,293,827,559 | 44,579,343,580,866,824 | 663,876,962,553,778,944 |
WACC | ||||||||||||||
PV UFCF | 92,446.89 | 1,289,112.95 | 18,429,019.84 | 263,459,281.05 | 3,766,385,482.35 | 54,062,344,966.13 | 776,030,697,020.77 | 11,004,202,193,193.29 | 157,314,888,356,459.91 | 2,248,956,686,193,337 | 32,150,842,359,645,148 | 459,624,976,675,024,320 | ||
SUM PV UFCF | 581,925,421,071,859,712 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 4.17 |
Free cash flow (t + 1) | 677,154,501,804,854,400 |
Terminal Value | 31,205,276,580,868,870,144 |
Present Value of Terminal Value | 25,439,859,906,999,525,376 |
Intrinsic Value
Enterprise Value | 26,021,785,328,071,380,992 |
---|---|
Net Debt | -0.52 |
Equity Value | 26,021,785,328,071,380,992 |
Shares Outstanding | 2.58 |
Equity Value Per Share | 10,090,813,153,636,392,960.00 |