Discounted Cash Flow (DCF) Analysis Unlevered

Bone Therapeutics SA (BOTHE.BR)

0.25 €

-0.01 (-2.34%)
All numbers are in Millions, Currency in USD
Stock DCF: -20,396,463,812,696.80 | 0.25 | overvalue

Operating Data

Year
A/P
2017
Actual
2018
Actual
2019
Projected
2020
Projected
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 0.04124.39594.8814,509.37353,886.978,631,389.52210,521,695.645,134,675,502.99125,235,987,865.36
Revenue (%)
EBITDA -11.63-13.21-8.87-10.58-11.80-21,033,172.89-513,004,216.88-12,512,297,971.36-305,177,999,270.86-7,443,365,835,130.24
EBITDA (%)
EBIT -12.15-13.79-9.62-11.18-11.99-21,981,050.93-536,123,193.29-13,076,175,444.82-318,931,108,378.46-7,778,807,520,647.97
EBIT (%)
Depreciation 0.520.580.750.600.19947,878.0323,118,976.41563,877,473.4713,753,109,107.60335,441,685,517.73
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 8.418.178.6314.6510.7115,125,104.76368,904,994.178,997,682,783.71219,455,677,629.565,352,577,502,624.78
Total Cash (%)
Account Receivables ----------
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 2.813.243.075.174.505,086,391.71124,058,334.273,025,813,030.7773,800,317,816.311,800,007,751,437.21
Accounts Payable (%)
Capital Expenditure -0.42-0.30-0.31-0.09-0.21-738,267.09-18,006,514.46-439,183,279.50-10,711,787,303.86-261,263,104,946.08
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 0.25
Beta 0.216
Diluted Shares Outstanding 11.72
Cost of Debt
Tax Rate -0.69
After-tax Cost of Debt 4.06%
Risk-Free Rate
Market Risk Premium
Cost of Equity 3.785
Total Debt 20.80
Total Equity 2.93
Total Capital 23.73
Debt Weighting 87.65
Equity Weighting 12.35
Wacc

Build Up Free Cash

Year
A/P
2017
Actual
2018
Actual
2019
Projected
2020
Projected
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 0.04124.39594.8814,509.37353,886.978,631,389.52210,521,695.645,134,675,502.99125,235,987,865.36
EBITDA -11.63-13.21-8.87-10.58-11.80-21,033,172.89-513,004,216.88-12,512,297,971.36-305,177,999,270.86-7,443,365,835,130.24
EBIT -12.15-13.79-9.62-11.18-11.99-21,981,050.93-536,123,193.29-13,076,175,444.82-318,931,108,378.46-7,778,807,520,647.97
Tax Rate -1.28%-1.48%-1.58%24.21%-0.69%3.84%3.84%3.84%3.84%3.84%
EBIAT -12.31-13.99-9.77-8.48-12.07-21,137,970.85-515,560,264.62-12,574,640,599.15-306,698,551,168.19-7,480,452,466,768.74
Depreciation 0.520.580.750.600.19947,878.0323,118,976.41563,877,473.4713,753,109,107.60335,441,685,517.73
Accounts Receivable ----------
Inventories ----------
Accounts Payable -0.43-0.172.10-0.675,086,387.20118,971,942.572,901,754,696.5070,774,504,785.531,726,207,433,620.91
Capital Expenditure -0.41-0.30-0.31-0.09-0.21-738,267.09-18,006,514.46-439,183,279.50-10,711,787,303.86-261,263,104,946.08
UFCF -12.20-13.27-9.50-5.87-12.76-15,841,972.71-391,475,860.10-9,548,191,708.69-232,882,724,578.91-5,680,066,452,576.19
WACC
PV UFCF -10.29-6.10-12.76-15,228,273.29-361,732,716.65-8,480,966,245.90-198,839,599,389.67-4,661,872,850,228.05
SUM PV UFCF -4,869,570,376,853.55

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.03
Free cash flow (t + 1) -5,793,667,781,627.71
Terminal Value -285,402,353,774,764.06
Present Value of Terminal Value -234,241,887,055,793.72

Intrinsic Value

Enterprise Value -239,111,457,432,647.28
Net Debt 11.29
Equity Value -239,111,457,432,658.53
Shares Outstanding 11.72
Equity Value Per Share -20,396,463,812,696.80