Discounted Cash Flow (DCF) Analysis Unlevered
Cibox Inter@ctive (CIB.PA)
0.0615 €
-0.01 (-10.74%)
All numbers are in Millions, Currency in USD
Operating Data
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 16.82 | 11.24 | 7.02 | 14.51 | 16.16 | 18.06 | 20.20 | 22.58 | 25.25 | 28.23 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
EBITDA | 0.54 | 0.02 | 0.03 | 0.90 | 0.07 | 0.38 | 0.42 | 0.47 | 0.53 | 0.59 |
EBITDA (%) | ||||||||||
EBIT | 0.40 | -0.05 | 0.01 | 0.74 | -0.09 | 0.24 | 0.27 | 0.30 | 0.33 | 0.37 |
EBIT (%) | ||||||||||
Depreciation | 0.13 | 0.07 | 0.03 | 0.15 | 0.16 | 0.14 | 0.15 | 0.17 | 0.19 | 0.22 |
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 | 2.93 | 2.28 | 1.92 | 6.28 | 5.77 | 5.21 | 5.82 | 6.51 | 7.28 | 8.14 |
---|---|---|---|---|---|---|---|---|---|---|
Total Cash (%) | ||||||||||
Account Receivables | - | - | - | - | - | - | - | - | - | - |
Account Receivables (%) | ||||||||||
Inventories | 1.32 | 0.82 | 1.14 | 1.61 | 1.29 | 1.82 | 2.04 | 2.28 | 2.54 | 2.84 |
Inventories (%) | ||||||||||
Accounts Payable | 2.97 | 0.78 | 1.01 | 1.16 | 2.97 | 2.36 | 2.64 | 2.96 | 3.30 | 3.69 |
Accounts Payable (%) | ||||||||||
Capital Expenditure | -0.01 | -0.02 | -0.38 | -0.19 | -0.36 | -0.33 | -0.37 | -0.41 | -0.46 | -0.52 |
Capital Expenditure (%) |
Weighted Average Cost Of Capital
Share price | $ 0.0,615 |
---|---|
Beta | 1.994 |
Diluted Shares Outstanding | 107.49 |
Cost of Debt | |
Tax Rate | 0.00 |
After-tax Cost of Debt | 3.51% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 13.155 |
Total Debt | 6.23 |
Total Equity | 6.61 |
Total Capital | 12.84 |
Debt Weighting | 48.53 |
Equity Weighting | 51.47 |
Wacc |
Build Up Free Cash
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 16.82 | 11.24 | 7.02 | 14.51 | 16.16 | 18.06 | 20.20 | 22.58 | 25.25 | 28.23 |
---|---|---|---|---|---|---|---|---|---|---|
EBITDA | 0.54 | 0.02 | 0.03 | 0.90 | 0.07 | 0.38 | 0.42 | 0.47 | 0.53 | 0.59 |
EBIT | 0.40 | -0.05 | 0.01 | 0.74 | -0.09 | 0.24 | 0.27 | 0.30 | 0.33 | 0.37 |
Tax Rate | 0.50% | 0.00% | 0.00% | 0.00% | 0.00% | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% |
EBIAT | 0.40 | -0.05 | 0.01 | 0.74 | -0.09 | 0.24 | 0.27 | 0.30 | 0.33 | 0.37 |
Depreciation | 0.13 | 0.07 | 0.03 | 0.15 | 0.16 | 0.14 | 0.15 | 0.17 | 0.19 | 0.22 |
Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
Inventories | - | 0.50 | -0.32 | -0.47 | 0.32 | -0.53 | -0.21 | -0.24 | -0.27 | -0.30 |
Accounts Payable | - | -2.18 | 0.23 | 0.15 | 1.81 | -0.61 | 0.28 | 0.31 | 0.35 | 0.39 |
Capital Expenditure | -0.01 | -0.02 | -0.38 | -0.19 | -0.36 | -0.33 | -0.37 | -0.41 | -0.46 | -0.52 |
UFCF | 0.53 | -1.68 | -0.44 | 0.39 | 1.83 | -1.09 | 0.11 | 0.13 | 0.14 | 0.16 |
WACC | ||||||||||
PV UFCF | -1.01 | 0.10 | 0.10 | 0.10 | 0.11 | |||||
SUM PV UFCF | -0.60 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 8.47 |
Free cash flow (t + 1) | 0.16 |
Terminal Value | 2.51 |
Present Value of Terminal Value | 1.67 |
Intrinsic Value
Enterprise Value | 1.07 |
---|---|
Net Debt | 0.46 |
Equity Value | 0.61 |
Shares Outstanding | 107.49 |
Equity Value Per Share | 0.01 |