Discounted Cash Flow (DCF) Analysis Unlevered

Dyadic International, Inc. (DYAI)

$1.74

-0.03 (-1.69%)
All numbers are in Millions, Currency in USD
Stock DCF: - | 1.74 | undervalue

Operating Data

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 0.761.301.681.602.112.793.684.866.418.46
Revenue (%)
EBITDA -2.20-6.70-8.30-8.96-14.40-14.18-18.71-24.69-32.58-42.99
EBITDA (%)
EBIT -2.20-6.70-8.30-9.29-14.73-14.68-19.38-25.57-33.74-44.52
EBIT (%)
Depreciation ---0.330.330.510.670.881.161.53
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 47.6941.2034.2229.0920.2679.65105.11138.70183.02241.51
Total Cash (%)
Account Receivables 0.761.121.140.410.091.592.092.763.644.81
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 0.460.240.770.901.551.421.872.473.264.30
Accounts Payable (%)
Capital Expenditure ----------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 1.74
Beta 0.239
Diluted Shares Outstanding 27.47
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt -%
Risk-Free Rate
Market Risk Premium
Cost of Equity 4.885
Total Debt -
Total Equity 47.80
Total Capital -
Debt Weighting -
Equity Weighting -
Wacc

Build Up Free Cash

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 0.761.301.681.602.112.793.684.866.418.46
EBITDA -2.20-6.70-8.30-8.96-14.40-14.18-18.71-24.69-32.58-42.99
EBIT -2.20-6.70-8.30-9.29-14.73-14.68-19.38-25.57-33.74-44.52
Tax Rate 3.03%15.02%-0.12%-0.34%0.00%3.52%3.52%3.52%3.52%3.52%
EBIAT -2.14-5.69-8.31-9.33-14.73-14.17-18.70-24.67-32.55-42.96
Depreciation ---0.330.330.510.670.881.161.53
Accounts Receivable --0.36-0.020.730.31-1.49-0.51-0.67-0.88-1.16
Inventories ----------
Accounts Payable --0.220.530.140.64-0.130.450.600.791.04
Capital Expenditure ----------
UFCF ------15.28-18.08-23.86-31.48-41.55
WACC
PV UFCF ------
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -
Free cash flow (t + 1) -42.38
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt -15.75
Equity Value -
Shares Outstanding 27.47
Equity Value Per Share -