Discounted Cash Flow (DCF) Analysis Unlevered

China Liberal Education Holdings Li... (CLEU)

$0.62

+0.00 (+0.16%)
All numbers are in Millions, Currency in USD
Stock DCF: - | 0.62 | undervalue

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 3.894.815.265.023.913.974.044.104.174.24
Revenue (%)
EBITDA 1.071.060.641.53-0.930.540.550.560.570.58
EBITDA (%)
EBIT 1.031.010.591.51-0.950.510.520.530.540.55
EBIT (%)
Depreciation 0.050.050.040.020.020.030.030.030.030.03
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 0.012.081.705.0132.688.048.168.308.438.57
Total Cash (%)
Account Receivables 2.932.122.396.804.583.323.373.433.483.54
Account Receivables (%)
Inventories ---0.200.200.180.180.190.190.19
Inventories (%)
Accounts Payable 0.170.120.050.130.170.120.120.120.120.12
Accounts Payable (%)
Capital Expenditure -0.01-0.08-0.02-0.02-0-0.02-0.02-0.02-0.02-0.02
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 0.62
Beta 1.649
Diluted Shares Outstanding 10.37
Cost of Debt
Tax Rate -31.59
After-tax Cost of Debt -%
Risk-Free Rate
Market Risk Premium
Cost of Equity 10.674
Total Debt 0.05
Total Equity 6.43
Total Capital 6.48
Debt Weighting 0.74
Equity Weighting 99.26
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 3.894.815.265.023.913.974.044.104.174.24
EBITDA 1.071.060.641.53-0.930.540.550.560.570.58
EBIT 1.031.010.591.51-0.950.510.520.530.540.55
Tax Rate 15.87%22.85%26.27%20.06%-31.59%10.69%10.69%10.69%10.69%10.69%
EBIAT 0.860.780.441.21-1.250.460.470.470.480.49
Depreciation 0.050.050.040.020.020.030.030.030.030.03
Accounts Receivable -0.81-0.27-4.412.221.27-0.05-0.05-0.06-0.06
Inventories -----00.02-0-0-0-0
Accounts Payable --0.05-0.070.070.04-0.050000
Capital Expenditure -0.01-0.08-0.02-0.02-0-0.02-0.02-0.02-0.02-0.02
UFCF 0.901.500.12-3.131.021.700.420.420.430.44
WACC
PV UFCF -----
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -
Free cash flow (t + 1) 0.45
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt -32.63
Equity Value -
Shares Outstanding 10.37
Equity Value Per Share -