Discounted Cash Flow (DCF) Analysis Unlevered

Enterprise Group, Inc. (E.TO)

$0.42

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: -0.40 | 0.42 | 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 37.6820.4819.5215.5218.7316.3914.3312.5410.979.59
Revenue (%)
EBITDA 6.52-1.331.511.674.511.751.531.341.171.02
EBITDA (%)
EBIT 0.55-7.13-4.34-4.45-1.34-3-2.62-2.29-2-1.75
EBIT (%)
Depreciation 5.975.805.856.125.864.744.153.633.182.78
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 1.290.870.970.780.880.730.640.560.490.43
Total Cash (%)
Account Receivables 12.286.255.714.175.714.914.293.753.282.87
Account Receivables (%)
Inventories 1.290.230.200.210.300.280.240.210.190.16
Inventories (%)
Accounts Payable -1.831.801.261.631.431.251.100.960.84
Accounts Payable (%)
Capital Expenditure -2.18-7.08-5.48-1.41-3.85-3.21-2.81-2.46-2.15-1.88
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 0.42
Beta 1.406
Diluted Shares Outstanding 48.72
Cost of Debt
Tax Rate 1.76
After-tax Cost of Debt 7.13%
Risk-Free Rate
Market Risk Premium
Cost of Equity 10.145
Total Debt 14.80
Total Equity 20.46
Total Capital 35.26
Debt Weighting 41.97
Equity Weighting 58.03
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 37.6820.4819.5215.5218.7316.3914.3312.5410.979.59
EBITDA 6.52-1.331.511.674.511.751.531.341.171.02
EBIT 0.55-7.13-4.34-4.45-1.34-3-2.62-2.29-2-1.75
Tax Rate 10.75%42.58%1.59%-6.48%1.76%10.04%10.04%10.04%10.04%10.04%
EBIAT 0.49-4.10-4.27-4.74-1.32-2.70-2.36-2.06-1.80-1.58
Depreciation 5.975.805.856.125.864.744.153.633.182.78
Accounts Receivable -6.030.541.54-1.540.810.610.540.470.41
Inventories -1.060.03-0.02-0.080.020.030.030.030.02
Accounts Payable ---0.03-0.540.37-0.20-0.18-0.16-0.14-0.12
Capital Expenditure -2.18-7.08-5.48-1.41-3.85-3.21-2.81-2.46-2.15-1.88
UFCF 4.291.71-3.370.95-0.56-0.54-0.55-0.48-0.42-0.37
WACC
PV UFCF -0.49-0.46-0.37-0.30-0.24
SUM PV UFCF -1.87

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.88
Free cash flow (t + 1) -0.37
Terminal Value -5.43
Present Value of Terminal Value -3.55

Intrinsic Value

Enterprise Value -5.42
Net Debt 13.92
Equity Value -19.34
Shares Outstanding 48.72
Equity Value Per Share -0.40