Discounted Cash Flow (DCF) Analysis Unlevered

Chicken Soup for the Soul Entertain... (CSSEP)

$24.2

+0.83 (+3.55%)
All numbers are in Millions, Currency in USD
Stock DCF: -4,057.55 | 24.2 | overvalue

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 10.6626.8655.3666.36110.40205.44382.32711.471,324.022,463.95
Revenue (%)
EBITDA 28.119.96-6.097.043.27124.67232431.75803.461,495.21
EBITDA (%)
EBIT 23.750.42-30.28-38.22-45.5129.1354.21100.88187.74349.38
EBIT (%)
Depreciation 4.369.5424.1945.2648.7895.54177.79330.86615.721,145.83
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 2.176.456.4514.7344.2948.6390.51168.43313.44583.29
Total Cash (%)
Account Receivables 14.1914.0542.3031.6560.21149.60278.40518.09964.141,794.22
Account Receivables (%)
Inventories 0.370.260.311.111.843.436.3711.8622.0741.08
Inventories (%)
Accounts Payable 15.0826.6518.4528.7753.5499.64185.42345.05642.13
Accounts Payable (%)
Capital Expenditure ----5.47-3.21-11.45-21.31-39.65-73.78-137.31
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 24.2
Beta 1.308
Diluted Shares Outstanding 3.51
Cost of Debt
Tax Rate 0.01
After-tax Cost of Debt 5.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.958
Total Debt -
Total Equity 84.95
Total Capital 84.95
Debt Weighting 0.00
Equity Weighting 100.00
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 10.6626.8655.3666.36110.40205.44382.32711.471,324.022,463.95
EBITDA 28.119.96-6.097.043.27124.67232431.75803.461,495.21
EBIT 23.750.42-30.28-38.22-45.5129.1354.21100.88187.74349.38
Tax Rate -0.81%3,010.89%-1.44%0.21%0.01%601.77%601.77%601.77%601.77%601.77%
EBIAT 23.94-12.14-30.71-38.14-45.50-146.17-272.01-506.21-942.03-1,753.07
Depreciation 4.369.5424.1945.2648.7895.54177.79330.86615.721,145.83
Accounts Receivable -0.13-28.2510.66-28.57-89.39-128.80-239.69-446.05-830.08
Inventories -0.11-0.05-0.79-0.73-1.58-2.95-5.49-10.21-19
Accounts Payable -4.0821.57-8.2010.3224.7746.1085.78159.64297.08
Capital Expenditure ----5.47-3.21-11.45-21.31-39.65-73.78-137.31
UFCF 28.301.71-13.263.31-18.91-128.28-201.18-374.39-696.72-1,296.56
WACC
PV UFCF -117.73-169.45-289.41-494.30-844.22
SUM PV UFCF -1,915.12

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.96
Free cash flow (t + 1) -1,322.49
Terminal Value -19,001.29
Present Value of Terminal Value -12,372.22

Intrinsic Value

Enterprise Value -14,287.33
Net Debt -44.29
Equity Value -14,243.05
Shares Outstanding 3.51
Equity Value Per Share -4,057.55