Discounted Cash Flow (DCF) Analysis Unlevered
Digital Brands Group, Inc. (DBGI)
$1.32
-0.10 (-7.04%)
All numbers are in Millions, Currency in USD
Operating Data
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 3.03 | 5.24 | 7.58 | 12.04 | 19.11 | 30.33 | 48.14 | 76.41 |
|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||
| EBITDA | -4.83 | -8.51 | -26.37 | -26.86 | -42.64 | -67.67 | -107.41 | -170.49 |
| EBITDA (%) | ||||||||
| EBIT | -4.88 | -9.12 | -27.59 | -28.04 | -44.50 | -70.63 | -112.10 | -177.93 |
| EBIT (%) | ||||||||
| Depreciation | 0.05 | 0.60 | 1.22 | 1.17 | 1.86 | 2.96 | 4.69 | 7.44 |
| Depreciation (%) |
Balance Sheet Data
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Total Cash | 0.04 | 0.58 | 0.53 | 0.77 | 1.23 | 1.95 | 3.10 | 4.91 |
|---|---|---|---|---|---|---|---|---|
| Total Cash (%) | ||||||||
| Account Receivables | - | 0.25 | 0.09 | 0.35 | 0.56 | 0.89 | 1.41 | 2.24 |
| Account Receivables (%) | ||||||||
| Inventories | 1.06 | 1.16 | 2.76 | 3.75 | 5.96 | 9.46 | 15.01 | 23.82 |
| Inventories (%) | ||||||||
| Accounts Payable | 1.60 | 5.67 | 6.56 | 9.93 | 15.76 | 25.01 | 39.69 | 63 |
| Accounts Payable (%) | ||||||||
| Capital Expenditure | -0.01 | -0 | -0.04 | -0.03 | -0.05 | -0.09 | -0.14 | -0.22 |
| Capital Expenditure (%) |
Weighted Average Cost Of Capital
| Share price | $ 1.32 |
|---|---|
| Beta | 0.000 |
| Diluted Shares Outstanding | 0.10 |
| Cost of Debt | |
| Tax Rate | -3.52 |
| After-tax Cost of Debt | 61.05% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 3.494 |
| Total Debt | 6 |
| Total Equity | 0.14 |
| Total Capital | 6.14 |
| Debt Weighting | 97.74 |
| Equity Weighting | 2.26 |
| Wacc |
Build Up Free Cash
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 3.03 | 5.24 | 7.58 | 12.04 | 19.11 | 30.33 | 48.14 | 76.41 |
|---|---|---|---|---|---|---|---|---|
| EBITDA | -4.83 | -8.51 | -26.37 | -26.86 | -42.64 | -67.67 | -107.41 | -170.49 |
| EBIT | -4.88 | -9.12 | -27.59 | -28.04 | -44.50 | -70.63 | -112.10 | -177.93 |
| Tax Rate | -0.01% | -0.13% | -3.52% | -1.22% | -1.22% | -1.22% | -1.22% | -1.22% |
| EBIAT | -4.88 | -9.13 | -28.57 | -28.38 | -45.04 | -71.49 | -113.47 | -180.10 |
| Depreciation | 0.05 | 0.60 | 1.22 | 1.17 | 1.86 | 2.96 | 4.69 | 7.44 |
| Accounts Receivable | - | - | 0.16 | -0.26 | -0.21 | -0.33 | -0.52 | -0.83 |
| Inventories | - | -0.10 | -1.59 | -1 | -2.20 | -3.50 | -5.55 | -8.81 |
| Accounts Payable | - | 4.07 | 0.89 | 3.36 | 5.83 | 9.25 | 14.69 | 23.31 |
| Capital Expenditure | -0.01 | -0 | -0.04 | -0.03 | -0.05 | -0.09 | -0.14 | -0.22 |
| UFCF | -4.84 | -4.55 | -27.93 | -25.14 | -39.82 | -63.20 | -100.30 | -159.21 |
| WACC | ||||||||
| PV UFCF | -40.15 | -39.82 | -39.56 | -39.30 | -39.05 | |||
| SUM PV UFCF | -77.54 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 59.75 |
| Free cash flow (t + 1) | -162.39 |
| Terminal Value | -281.19 |
| Present Value of Terminal Value | -27.03 |
Intrinsic Value
| Enterprise Value | -104.57 |
|---|---|
| Net Debt | 5.47 |
| Equity Value | -110.04 |
| Shares Outstanding | 0.10 |
| Equity Value Per Share | -1,048.74 |