Discounted Cash Flow (DCF) Analysis Unlevered

Dyadic International, Inc. (DYAI)

$1.4

-0.09 (-6.04%)
All numbers are in Millions, Currency in USD
Stock DCF: - | 1.4 | undervalue

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 0.761.301.681.602.403.284.486.118.3411.38
Revenue (%)
EBITDA -1.64-5.80-7.31-8.85-13.02-14.39-19.64-26.80-36.58-49.92
EBITDA (%)
EBIT ------14.39-19.64-26.80-36.58-49.92
EBIT (%)
Depreciation ----------
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 47.6941.2034.2229.0920.2692.93126.83173.10236.26322.45
Total Cash (%)
Account Receivables 0.761.121.140.410.371.942.643.614.936.72
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 0.520.310.941.011.551.812.473.384.616.29
Accounts Payable (%)
Capital Expenditure ----------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 1.4
Beta 0.483
Diluted Shares Outstanding 27.84
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt -%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.881
Total Debt -
Total Equity 38.97
Total Capital -
Debt Weighting -
Equity Weighting -
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 0.761.301.681.602.403.284.486.118.3411.38
EBITDA -1.64-5.80-7.31-8.85-13.02-14.39-19.64-26.80-36.58-49.92
EBIT ------14.39-19.64-26.80-36.58-49.92
Tax Rate 3.03%15.02%-0.12%-0.34%0.00%3.52%3.52%3.52%3.52%3.52%
EBIAT ------13.88-18.94-25.86-35.29-48.16
Depreciation ----------
Accounts Receivable --0.36-0.020.730.03-1.57-0.71-0.96-1.32-1.80
Inventories ----------
Accounts Payable --0.210.630.070.530.260.660.901.231.68
Capital Expenditure ----------
UFCF ------15.18-18.99-25.92-35.37-48.28
WACC
PV UFCF -----
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -
Free cash flow (t + 1) -49.25
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt -15.75
Equity Value -
Shares Outstanding 27.84
Equity Value Per Share -