Discounted Cash Flow (DCF) Analysis Unlevered

Catalyst Biosciences, Inc. (CBIO)

$0.5218

-0.01 (-1.92%)
All numbers are in Millions, Currency in USD
Stock DCF: 1.18 | 0.5218 | undervalue

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 1.020.0100000000
Revenue (%)
EBITDA -21.39-29.91-57.13-56.10-87.60-0.10-0-0-0-0
EBITDA (%)
EBIT -21.56-30.06-57.28-56.24-87.89-0.10-0-0-0-0
EBIT (%)
Depreciation 0.170.150.150.140.2900000
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 32.44120.1376.8779.3546.850.060000
Total Cash (%)
Account Receivables 0.02000000000
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 0.751.254.285.936.420.010000
Accounts Payable (%)
Capital Expenditure -0.02-0.38-0.06-0.27-0.84-0-0-0-0-0
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 0.5,218
Beta 1.697
Diluted Shares Outstanding 30.64
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 1.64%
Risk-Free Rate
Market Risk Premium
Cost of Equity 11.466
Total Debt 2.38
Total Equity 15.99
Total Capital 18.37
Debt Weighting 12.98
Equity Weighting 87.02
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 1.020.0100000000
EBITDA -21.39-29.91-57.13-56.10-87.60-0.10-0-0-0-0
EBIT -21.56-30.06-57.28-56.24-87.89-0.10-0-0-0-0
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT -21.56-30.06-57.28-56.24-87.89-0.10-0-0-0-0
Depreciation 0.170.150.150.140.2900000
Accounts Receivable -0.0200000000
Inventories ----------
Accounts Payable -0.503.031.650.49-6.41-0.01-0-0-0
Capital Expenditure -0.02-0.38-0.06-0.27-0.84-0-0-0-0-0
UFCF -21.41-29.76-54.16-54.72-87.95-6.52-0.01-0-0-0
WACC
PV UFCF -65.76-60.29-87.95-5.91-0.01-0-0-0
SUM PV UFCF -5.92

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 10.19
Free cash flow (t + 1) -0
Terminal Value -0
Present Value of Terminal Value -0

Intrinsic Value

Enterprise Value -5.92
Net Debt -41.96
Equity Value 36.04
Shares Outstanding 30.64
Equity Value Per Share 1.18