Discounted Cash Flow (DCF) Analysis Unlevered

Genetic Technologies Limited (GENE)

$0.964

-0.03 (-2.63%)

All numbers are in Millions, Currency in USD

Stock DCF: -2,682,956,586.04 | 0.964 | 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	0.19	0.03	0.01	0.12	6.79	117.39	2,028.16	35,039.96	605,376.58	10,458,938.19
Revenue (%)
EBITDA	-5.13	-6.41	-6.08	-7.06	-6.57	-22,427.18	-387,468.74	-6,694,199.52	-115,653,992.84	-1,998,124,796.98
EBITDA (%)
EBIT	-5.44	-6.45	-6.10	-7.26	-17.47	-22,615.59	-390,723.90	-6,750,437.98	-116,625,610.52	-2,014,911,189.97
EBIT (%)
Depreciation	0.30	0.04	0.02	0.19	10.91	188.41	3,255.15	56,238.46	971,617.68	16,786,393
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	5.49	2.19	14.21	20.90	11.73	40,641.68	702,156.05	12,130,972.56	209,583,746.17	3,620,925,399.86
Total Cash (%)
Account Receivables	0.30	0.82	0.79	1.07	2.42	2,889.34	49,918.33	862,426.29	14,899,920.94	257,422,167.36
Account Receivables (%)
Inventories	0.06	0.03	0.09	0.08	0.40	270.61	4,675.25	80,773.13	1,395,496.90	24,109,647.18
Inventories (%)
Accounts Payable	0.54	0.59	0.35	0.27	1.15	1,501.06	25,933.48	448,046.12	7,740,779.47	133,735,489.97
Accounts Payable (%)
Capital Expenditure	-0	-0.05	-0.04	-0.75	-0.10	-283.55	-4,898.88	-84,636.69	-1,462,246.76	-25,262,867.59
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price	$ 0.964
Beta	0.530
Diluted Shares Outstanding	15.37
Cost of Debt
Tax Rate	0.45
After-tax Cost of Debt	2.32%
Risk-Free Rate
Market Risk Premium
Cost of Equity	6.310
Total Debt	0.65
Total Equity	14.81
Total Capital	15.47
Debt Weighting	4.22
Equity Weighting	95.78
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	0.19	0.03	0.01	0.12	6.79	117.39	2,028.16	35,039.96	605,376.58	10,458,938.19
EBITDA	-5.13	-6.41	-6.08	-7.06	-6.57	-22,427.18	-387,468.74	-6,694,199.52	-115,653,992.84	-1,998,124,796.98
EBIT	-5.44	-6.45	-6.10	-7.26	-17.47	-22,615.59	-390,723.90	-6,750,437.98	-116,625,610.52	-2,014,911,189.97
Tax Rate	0.00%	0.00%	0.00%	0.00%	0.45%	0.09%	0.09%	0.09%	0.09%	0.09%
EBIAT	-5.44	-6.45	-6.10	-7.26	-17.40	-22,595.31	-390,373.43	-6,744,383.14	-116,521,002.58	-2,013,103,905.02
Depreciation	0.30	0.04	0.02	0.19	10.91	188.41	3,255.15	56,238.46	971,617.68	16,786,393
Accounts Receivable	-	-0.52	0.03	-0.28	-1.35	-2,886.91	-47,028.99	-812,507.96	-14,037,494.65	-242,522,246.43
Inventories	-	0.03	-0.06	0.01	-0.32	-270.21	-4,404.64	-76,097.88	-1,314,723.77	-22,714,150.28
Accounts Payable	-	0.05	-0.24	-0.08	0.88	1,499.91	24,432.41	422,112.64	7,292,733.35	125,994,710.51
Capital Expenditure	-0	-0.05	-0.04	-0.75	-0.10	-283.55	-4,898.88	-84,636.69	-1,462,246.76	-25,262,867.59
UFCF	-5.13	-6.89	-6.39	-8.16	-7.37	-24,347.67	-419,018.38	-7,239,274.57	-125,071,116.73	-2,160,822,065.81
WACC
PV UFCF						-22,939.20	-371,941.73	-6,054,214.43	-98,546,384.28	-1,604,071,008.75
SUM PV UFCF										-1,709,066,488.39

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%)	6.14
Free cash flow (t + 1)	-2,204,038,507.13
Terminal Value	-53,237,645,099.69
Present Value of Terminal Value	-39,520,590,070.58

Intrinsic Value

Enterprise Value	-41,229,656,558.97
Net Debt	-11.08
Equity Value	-41,229,656,547.89
Shares Outstanding	15.37
Equity Value Per Share	-2,682,956,586.04