Discounted Cash Flow (DCF) Analysis Unlevered

Cemtrex, Inc. (CETX)

$3.3351

+0.10 (+2.94%)
All numbers are in Millions, Currency in USD
Stock DCF: -28.34 | 3.3351 | overvalue

Operating Data

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 39.2743.5243.1350.2759.3765.9973.3481.5290.61100.71
Revenue (%)
EBITDA -4.841.505.90-4.42-0.01-0.53-0.59-0.65-0.73-0.81
EBITDA (%)
EBIT -7.85-2.213.69-6.29-1.03-4.06-4.51-5.02-5.58-6.20
EBIT (%)
Depreciation 3.013.712.211.861.033.533.934.364.855.39
Depreciation (%)

Balance Sheet Data

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Total Cash 2.1820.3815.4410.625.3415.6217.3619.2921.4423.83
Total Cash (%)
Account Receivables 8.408.129.306.7812.3912.6614.0815.6517.3919.33
Account Receivables (%)
Inventories 5.216.795.669.538.749.9911.1012.3413.7115.24
Inventories (%)
Accounts Payable 4.242.864.243.266.265.836.487.218.018.90
Accounts Payable (%)
Capital Expenditure -1.66-1.57-1.07-1.84-2.76-2.46-2.73-3.04-3.38-3.75
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 3.3,351
Beta 2.109
Diluted Shares Outstanding 0.87
Cost of Debt
Tax Rate -53.25
After-tax Cost of Debt 40.45%
Risk-Free Rate
Market Risk Premium
Cost of Equity 14.277
Total Debt 12.28
Total Equity 2.90
Total Capital 15.18
Debt Weighting 80.88
Equity Weighting 19.12
Wacc

Build Up Free Cash

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 39.2743.5243.1350.2759.3765.9973.3481.5290.61100.71
EBITDA -4.841.505.90-4.42-0.01-0.53-0.59-0.65-0.73-0.81
EBIT -7.85-2.213.69-6.29-1.03-4.06-4.51-5.02-5.58-6.20
Tax Rate 10.57%-30.41%48.81%1.54%-53.25%-4.55%-4.55%-4.55%-4.55%-4.55%
EBIAT -7.02-2.891.89-6.19-1.59-4.25-4.72-5.25-5.83-6.48
Depreciation 3.013.712.211.861.033.533.934.364.855.39
Accounts Receivable -0.28-1.182.52-5.61-0.27-1.41-1.57-1.74-1.94
Inventories --1.591.14-3.870.79-1.25-1.11-1.24-1.38-1.53
Accounts Payable --1.381.38-0.983.01-0.430.650.720.800.89
Capital Expenditure -1.66-1.57-1.07-1.84-2.76-2.46-2.73-3.04-3.38-3.75
UFCF -5.67-3.424.36-8.51-5.13-5.12-5.40-6-6.67-7.42
WACC
PV UFCF -3.78-2.94-2.42-1.98-1.63
SUM PV UFCF -12.75

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 35.45
Free cash flow (t + 1) -7.56
Terminal Value -22.61
Present Value of Terminal Value -4.96

Intrinsic Value

Enterprise Value -17.71
Net Debt 6.95
Equity Value -24.66
Shares Outstanding 0.87
Equity Value Per Share -28.34