Discounted Cash Flow (DCF) Analysis Unlevered

Champions Oncology, Inc. (CSBR)

$4.11

+0.06 (+1.48%)
All numbers are in Millions, Currency in USD
Stock DCF: - | 4.11 | undervalue

Operating Data

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 20.2427.0732.1241.0449.1161.3676.6895.81119.73149.60
Revenue (%)
EBITDA -1.080.84-1.021.622.210.370.460.580.720.90
EBITDA (%)
EBIT -1.440.23-1.840.440.58-1.20-1.50-1.87-2.34-2.92
EBIT (%)
Depreciation 0.360.610.821.181.631.571.962.453.063.83
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 0.863.248.344.699.018.8311.0313.7817.2221.52
Total Cash (%)
Account Receivables 3.924.384.776.999.5110.6513.3116.6320.7825.96
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 2.152.813.141.892.875.066.327.909.8812.34
Accounts Payable (%)
Capital Expenditure -1.23-0.83-2.22-3.28-2.38-3.55-4.43-5.54-6.92-8.65
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 4.11
Beta 0.983
Diluted Shares Outstanding 14.16
Cost of Debt
Tax Rate 6.00
After-tax Cost of Debt -%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.156
Total Debt 9.47
Total Equity 58.20
Total Capital 67.66
Debt Weighting 13.99
Equity Weighting 86.01
Wacc

Build Up Free Cash

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 20.2427.0732.1241.0449.1161.3676.6895.81119.73149.60
EBITDA -1.080.84-1.021.622.210.370.460.580.720.90
EBIT -1.440.23-1.840.440.58-1.20-1.50-1.87-2.34-2.92
Tax Rate -2.29%44.59%-7.05%17.16%6.00%11.68%11.68%11.68%11.68%11.68%
EBIAT -1.480.13-1.970.360.55-1.06-1.32-1.65-2.07-2.58
Depreciation 0.360.610.821.181.631.571.962.453.063.83
Accounts Receivable --0.46-0.39-2.22-2.53-1.14-2.66-3.32-4.15-5.18
Inventories ----------
Accounts Payable -0.650.33-1.250.972.191.261.581.972.46
Capital Expenditure -1.23-0.83-2.22-3.28-2.38-3.55-4.43-5.54-6.92-8.65
UFCF -2.340.09-3.43-5.20-1.76-1.98-5.19-6.49-8.10-10.13
WACC
PV UFCF -----
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -
Free cash flow (t + 1) -10.33
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt 0.46
Equity Value -
Shares Outstanding 14.16
Equity Value Per Share -