Discounted Cash Flow (DCF) Analysis Unlevered

Cytocom, Inc. (CBLI)

$3.17

-0.25 (-7.31%)
All numbers are in Millions, Currency in USD
Stock DCF: - | 3.17 | undervalue

Operating Data

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 3.521.951.141.110.260.150.090.050.030.02
Revenue (%)
EBITDA -2.60-9.69-3.59-2.63-2.39-0.63-0.37-0.22-0.13-0.08
EBITDA (%)
EBIT -2.66-9.71-3.61-2.65-2.40-0.63-0.37-0.22-0.13-0.08
EBIT (%)
Depreciation 0.060.020.020.010.0100000
Depreciation (%)

Balance Sheet Data

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Total Cash 15.258.794.121.582.270.700.410.240.140.08
Total Cash (%)
Account Receivables 0.350.550.250.380.010.030.020.010.010
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 0.340.200.140.260.170.040.020.010.010
Accounts Payable (%)
Capital Expenditure -0.01-0-0.03-0-0-0-0-0-0-0
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 3.17
Beta 0.684
Diluted Shares Outstanding 12.40
Cost of Debt
Tax Rate 1.62
After-tax Cost of Debt -%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.031
Total Debt -
Total Equity 39.30
Total Capital -
Debt Weighting -
Equity Weighting -
Wacc

Build Up Free Cash

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 3.521.951.141.110.260.150.090.050.030.02
EBITDA -2.60-9.69-3.59-2.63-2.39-0.63-0.37-0.22-0.13-0.08
EBIT -2.66-9.71-3.61-2.65-2.40-0.63-0.37-0.22-0.13-0.08
Tax Rate -2.66%1.38%2.58%1.77%1.62%0.94%0.94%0.94%0.94%0.94%
EBIAT -2.73-9.57-3.52-2.60-2.36-0.63-0.37-0.22-0.13-0.07
Depreciation 0.060.020.020.010.0100000
Accounts Receivable --0.200.30-0.130.37-0.020.010.0100
Inventories ----------
Accounts Payable --0.14-0.060.12-0.10-0.13-0.02-0.01-0.01-0
Capital Expenditure -0.01-0-0.03-0-0-0-0-0-0-0
UFCF -2.68-9.89-3.29-2.59-2.08-0.77-0.37-0.22-0.13-0.08
WACC
PV UFCF -----
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -
Free cash flow (t + 1) -0.08
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt -1.95
Equity Value -
Shares Outstanding 12.40
Equity Value Per Share -