Discounted Cash Flow (DCF) Analysis Unlevered

Flux Power Holdings, Inc. (FLUX)

$3.65

+0.05 (+1.39%)
All numbers are in Millions, Currency in USD
Stock DCF: -664.84 | 3.65 | overvalue

Operating Data

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 4.129.3216.8426.2642.3376.64138.74251.17454.72823.20
Revenue (%)
EBITDA -6.16-11.09-12.41-11.90-14.78-64.74-117.20-212.18-384.12-695.39
EBITDA (%)
EBIT -6.21-11.17-12.55-12.17-15.36-65.58-118.73-214.94-389.11-704.44
EBIT (%)
Depreciation 0.060.080.140.270.570.841.522.7659.04
Depreciation (%)

Balance Sheet Data

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Total Cash 2.710.100.734.710.4813.8325.0345.3282.04148.53
Total Cash (%)
Account Receivables 0.952.423.076.108.6116.9630.7155.60100.66182.23
Account Receivables (%)
Inventories 1.513.815.2610.5116.2628.7151.9794.09170.34308.38
Inventories (%)
Accounts Payable 0.422.484.657.176.6516.4629.8053.9597.67176.82
Accounts Payable (%)
Capital Expenditure -0.09-0.28-0.32-1.10-0.80-1.99-3.61-6.54-11.83-21.42
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 3.65
Beta 1.146
Diluted Shares Outstanding 15.44
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 3.25%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.219
Total Debt 7.75
Total Equity 56.35
Total Capital 64.11
Debt Weighting 12.10
Equity Weighting 87.90
Wacc

Build Up Free Cash

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 4.129.3216.8426.2642.3376.64138.74251.17454.72823.20
EBITDA -6.16-11.09-12.41-11.90-14.78-64.74-117.20-212.18-384.12-695.39
EBIT -6.21-11.17-12.55-12.17-15.36-65.58-118.73-214.94-389.11-704.44
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT -6.21-11.17-12.55-12.17-15.36-65.58-118.73-214.94-389.11-704.44
Depreciation 0.060.080.140.270.570.841.522.7659.04
Accounts Receivable --1.47-0.65-3.03-2.51-8.36-13.75-24.89-45.06-81.57
Inventories --2.30-1.44-5.26-5.75-12.45-23.26-42.12-76.25-138.04
Accounts Payable -2.072.172.53-0.539.8213.3424.1543.7279.15
Capital Expenditure -0.09-0.28-0.32-1.10-0.80-1.99-3.61-6.54-11.83-21.42
UFCF -6.24-13.07-12.66-18.76-24.37-77.72-144.49-261.57-473.54-857.28
WACC
PV UFCF -71.63-122.73-204.79-341.69-570.13
SUM PV UFCF -1,310.97

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.50
Free cash flow (t + 1) -874.42
Terminal Value -13,452.63
Present Value of Terminal Value -8,946.61

Intrinsic Value

Enterprise Value -10,257.58
Net Debt 7.27
Equity Value -10,264.85
Shares Outstanding 15.44
Equity Value Per Share -664.84