Discounted Cash Flow (DCF) Analysis Unlevered
ClearSign Technologies Corporation (CLIR)
$1.17
+0.04 (+3.54%)
All numbers are in Millions, Currency in USD
Operating Data
Year A/P | 2018 Actual | 2019 Projected | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 0.53 | - | - | - | - | - | - | - | - | - |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| EBITDA | -9.62 | - | - | - | - | - | - | - | - | - |
| EBITDA (%) | ||||||||||
| EBIT | -9.89 | - | - | - | - | - | - | - | - | - |
| EBIT (%) | ||||||||||
| Depreciation | 0.27 | - | - | - | - | - | - | - | - | - |
| Depreciation (%) |
Balance Sheet Data
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Total Cash | 15.87 | - | - | - | - | - | - | - | - | - |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Cash (%) | ||||||||||
| Account Receivables | 0.04 | - | - | - | - | - | - | - | - | - |
| Account Receivables (%) | ||||||||||
| Inventories | - | - | - | - | - | - | - | - | - | - |
| Inventories (%) | ||||||||||
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable (%) | ||||||||||
| Capital Expenditure | -0.50 | - | - | - | - | - | - | - | - | - |
| Capital Expenditure (%) |
Weighted Average Cost Of Capital
| Share price | $ 1.17 |
|---|---|
| Beta | 1.001 |
| Diluted Shares Outstanding | 35.34 |
| Cost of Debt | |
| Tax Rate | 6.23 |
| After-tax Cost of Debt | 50.67% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 9.207 |
| Total Debt | 0.36 |
| Total Equity | 41.35 |
| Total Capital | 41.71 |
| Debt Weighting | 0.86 |
| Equity Weighting | 99.14 |
| Wacc |
Build Up Free Cash
Year A/P | 2018 Actual | 2019 Projected | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 0.53 | - | - | - | - | - | - | - | - | - |
|---|---|---|---|---|---|---|---|---|---|---|
| EBITDA | -9.62 | - | - | - | - | - | - | - | - | - |
| EBIT | -9.89 | - | - | - | - | - | - | - | - | - |
| Tax Rate | 0.00% | 1.23% | 0.70% | 0.03% | 6.23% | 1.64% | 1.64% | 1.64% | 1.64% | 1.64% |
| EBIAT | -9.89 | - | - | - | - | - | - | - | - | - |
| Depreciation | 0.27 | - | - | - | - | - | - | - | - | - |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventories | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - | - | - | - | - |
| Capital Expenditure | -0.50 | -0.42 | -0.19 | -0.21 | -0.16 | - | - | - | - | - |
| UFCF | -10.12 | - | - | - | - | - | - | - | - | - |
| WACC | ||||||||||
| PV UFCF | - | - | - | - | - | - | - | - | - | |
| SUM PV UFCF | - |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 9.56 |
| Free cash flow (t + 1) | - |
| Terminal Value | - |
| Present Value of Terminal Value | - |
Intrinsic Value
| Enterprise Value | - |
|---|---|
| Net Debt | -6.09 |
| Equity Value | - |
| Shares Outstanding | 35.34 |
| Equity Value Per Share | - |