Discounted Cash Flow (DCF) Analysis Unlevered

Charge Enterprises, Inc. (CRGE)

$1.76

+0.10 (+6.02%)
All numbers are in Millions, Currency in USD
Stock DCF: -136,761.56 | 1.76 | overvalue

Operating Data

Year
A/P
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 84.73477.022,685.6715,120.6785,131.28479,299.782,698,517.94
Revenue (%)
EBITDA -31.88-51.82-651.22-3,666.43-20,642.46-116,219.65-654,331.23
EBITDA (%)
EBIT -31.97-52.35-654.02-3,682.19-20,731.20-116,719.23-657,143.93
EBIT (%)
Depreciation 0.080.532.8015.7688.73499.582,812.69
Depreciation (%)

Balance Sheet Data

Year
A/P
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Total Cash 15.0327.96316.891,784.1110,044.7656,553.25318,401.91
Total Cash (%)
Account Receivables 64.1378.151,236.386,960.9939,191.27220,651.781,242,297.25
Account Receivables (%)
Inventories -0.110.633.5219.82111.60628.32
Inventories (%)
Accounts Payable 69.9171.431,309.167,370.7141,498.04233,639.161,315,417.77
Accounts Payable (%)
Capital Expenditure -0.20-1.36-7.03-39.56-222.73-1,253.99-7,060.11
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 1.76
Beta 3.463
Diluted Shares Outstanding 18.05
Cost of Debt
Tax Rate 9.29
After-tax Cost of Debt 11.27%
Risk-Free Rate
Market Risk Premium
Cost of Equity 20.148
Total Debt 37.11
Total Equity 31.77
Total Capital 68.87
Debt Weighting 53.88
Equity Weighting 46.12
Wacc

Build Up Free Cash

Year
A/P
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 84.73477.022,685.6715,120.6785,131.28479,299.782,698,517.94
EBITDA -31.88-51.82-651.22-3,666.43-20,642.46-116,219.65-654,331.23
EBIT -31.97-52.35-654.02-3,682.19-20,731.20-116,719.23-657,143.93
Tax Rate 1.25%9.29%5.27%5.27%5.27%5.27%5.27%
EBIAT -31.57-47.49-619.55-3,488.15-19,638.74-110,568.59-622,515.05
Depreciation 0.080.532.8015.7688.73499.582,812.69
Accounts Receivable --14.02-1,158.24-5,724.61-32,230.28-181,460.51-1,021,645.46
Inventories ---0.51-2.90-16.30-91.78-516.72
Accounts Payable -1.511,237.736,061.5634,127.32192,141.121,081,778.62
Capital Expenditure -0.20-1.36-7.03-39.56-222.73-1,253.99-7,060.11
UFCF -31.69-60.82-544.80-3,177.90-17,891.99-100,734.17-567,146.03
WACC
PV UFCF -725.02-3,666.03-17,891.99-87,321.58-426,171.50
SUM PV UFCF -348,993.72

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 15.36
Free cash flow (t + 1) -578,488.95
Terminal Value -4,330,007.14
Present Value of Terminal Value -2,119,397.30

Intrinsic Value

Enterprise Value -2,468,391.01
Net Debt 18.87
Equity Value -2,468,409.88
Shares Outstanding 18.05
Equity Value Per Share -136,761.56