Discounted Cash Flow (DCF) Analysis Unlevered
Clover Health Investments, Corp. (CLOV)
$0.906
-0.03 (-3.07%)
All numbers are in Millions, Currency in USD
Operating Data
Year A/P | 2019 Actual | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 462.27 | - | - | - | - | - | - | - | - |
|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | |||||||||
| EBITDA | -324.12 | - | - | - | - | - | - | - | - |
| EBITDA (%) | |||||||||
| EBIT | -324.67 | - | - | - | - | - | - | - | - |
| EBIT (%) | |||||||||
| Depreciation | 0.55 | - | - | - | - | - | - | - | - |
| Depreciation (%) |
Balance Sheet Data
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Total Cash | - | - | - | - | - | - | - | - | - |
|---|---|---|---|---|---|---|---|---|---|
| Total Cash (%) | |||||||||
| Account Receivables | - | - | - | - | - | - | - | - | - |
| Account Receivables (%) | |||||||||
| Inventories | - | - | - | - | - | - | - | - | - |
| Inventories (%) | |||||||||
| Accounts Payable | - | - | - | - | - | - | - | - | - |
| Accounts Payable (%) | |||||||||
| Capital Expenditure | -0.02 | - | - | - | - | - | - | - | - |
| Capital Expenditure (%) |
Weighted Average Cost Of Capital
| Share price | $ 0.906 |
|---|---|
| Beta | 2.103 |
| Diluted Shares Outstanding | 476.24 |
| Cost of Debt | |
| Tax Rate | 0.00 |
| After-tax Cost of Debt | 22.75% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 13.406 |
| Total Debt | 5.86 |
| Total Equity | 431.48 |
| Total Capital | 437.34 |
| Debt Weighting | 1.34 |
| Equity Weighting | 98.66 |
| Wacc |
Build Up Free Cash
Year A/P | 2019 Actual | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 462.27 | - | - | - | - | - | - | - | - |
|---|---|---|---|---|---|---|---|---|---|
| EBITDA | -324.12 | - | - | - | - | - | - | - | - |
| EBIT | -324.67 | - | - | - | - | - | - | - | - |
| Tax Rate | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| EBIAT | -324.67 | - | - | - | - | - | - | - | - |
| Depreciation | 0.55 | - | - | - | - | - | - | - | - |
| Accounts Receivable | - | - | - | - | - | - | - | - | - |
| Inventories | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | - | - | - | - | - | - | - | - |
| Capital Expenditure | -0.02 | - | -0.72 | -4.47 | - | - | - | - | - |
| UFCF | -324.14 | - | - | - | - | - | - | - | - |
| WACC | |||||||||
| PV UFCF | - | - | - | - | - | - | - | - | |
| SUM PV UFCF | - |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 13.53 |
| Free cash flow (t + 1) | - |
| Terminal Value | - |
| Present Value of Terminal Value | - |
Intrinsic Value
| Enterprise Value | - |
|---|---|
| Net Debt | -97.93 |
| Equity Value | - |
| Shares Outstanding | 476.24 |
| Equity Value Per Share | - |