Discounted Cash Flow (DCF) Analysis Unlevered

EZFill Holdings Inc. (EZFL)

$0.4899

+0.04 (+8.84%)
All numbers are in Millions, Currency in USD
Stock DCF: -150.18 | 0.4899 | overvalue

Operating Data

Year
A/P
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 3.597.2314.5929.4359.37119.76241.58
Revenue (%)
EBITDA -6.48-7.73-20.99-42.33-85.39-172.24-347.44
EBITDA (%)
EBIT -6.93-8.61-22.79-45.96-92.71-187.01-377.22
EBIT (%)
Depreciation 0.450.871.803.637.3214.7629.78
Depreciation (%)

Balance Sheet Data

Year
A/P
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Total Cash 0.8816.9218.8738.0576.76154.84312.33
Total Cash (%)
Account Receivables 0.190.100.4912.014.068.19
Account Receivables (%)
Inventories 0.040.050.130.260.531.072.16
Inventories (%)
Accounts Payable 0.220.490.931.883.807.6715.47
Accounts Payable (%)
Capital Expenditure -0.02-2.02-2.08-4.20-8.48-17.10-34.50
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 0.4,899
Beta 0.000
Diluted Shares Outstanding 25
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 162.90%
Risk-Free Rate
Market Risk Premium
Cost of Equity 3.551
Total Debt 0.48
Total Equity 12.25
Total Capital 12.72
Debt Weighting 3.74
Equity Weighting 96.26
Wacc

Build Up Free Cash

Year
A/P
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 3.597.2314.5929.4359.37119.76241.58
EBITDA -6.48-7.73-20.99-42.33-85.39-172.24-347.44
EBIT -6.93-8.61-22.79-45.96-92.71-187.01-377.22
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT -6.93-8.61-22.79-45.96-92.71-187.01-377.22
Depreciation 0.450.871.803.637.3214.7629.78
Accounts Receivable -0.09-0.39-0.50-1.02-2.05-4.13
Inventories --0.01-0.08-0.13-0.27-0.54-1.09
Accounts Payable -0.280.440.951.923.877.80
Capital Expenditure -0.02-2.02-2.08-4.20-8.48-17.10-34.50
UFCF -6.51-9.39-23.11-46.22-93.23-188.07-379.36
WACC
PV UFCF -27.71-50.62-93.23-171.72-316.27
SUM PV UFCF -502.08

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 9.52
Free cash flow (t + 1) -386.94
Terminal Value -5,145.52
Present Value of Terminal Value -3,265.59

Intrinsic Value

Enterprise Value -3,767.67
Net Debt -13.08
Equity Value -3,754.59
Shares Outstanding 25
Equity Value Per Share -150.18