Discounted Cash Flow (DCF) Analysis Unlevered

G Medical Innovations Holdings Ltd (GMVD)

$5.41

+2.41 (+80.33%)
All numbers are in Millions, Currency in USD
Stock DCF: -14,193,253.75 | 5.41 | 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 0.144.347.894.905.0643.65376.633,249.9928,044.62242,001.10
Revenue (%)
EBITDA -33.17-19.43-14.29-10.54-9.04-2,161.32-18,650.31-160,936.23-1,388,741.84-11,983,652.94
EBITDA (%)
EBIT -33.40-23.13-17.16-11.96-10.40-2,190.91-18,905.68-163,139.80-1,407,756.75-12,147,735.27
EBIT (%)
Depreciation 0.233.702.871.421.3629.59255.362,203.5719,014.90164,082.33
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 14.213.350.720.286.03906.407,821.4167,492.10582,399.035,025,604.95
Total Cash (%)
Account Receivables 0.471.341.111.290.9837.53323.862,794.6424,115.38208,095.04
Account Receivables (%)
Inventories 0.231.350.380.090.3518.35158.321,366.1911,789.04101,729.32
Inventories (%)
Accounts Payable 1.382.393.334.072.33105.78912.837,876.9667,971.42586,535.12
Accounts Payable (%)
Capital Expenditure -1.91-3.35-0.61-0.51-0.55-128.76-1,111.08-9,587.65-82,733.24-713,917.05
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 5.41
Beta -1.132
Diluted Shares Outstanding 3.07
Cost of Debt
Tax Rate 0.02
After-tax Cost of Debt 57.27%
Risk-Free Rate
Market Risk Premium
Cost of Equity -1.793
Total Debt 7.84
Total Equity 16.61
Total Capital 24.46
Debt Weighting 32.07
Equity Weighting 67.93
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 0.144.347.894.905.0643.65376.633,249.9928,044.62242,001.10
EBITDA -33.17-19.43-14.29-10.54-9.04-2,161.32-18,650.31-160,936.23-1,388,741.84-11,983,652.94
EBIT -33.40-23.13-17.16-11.96-10.40-2,190.91-18,905.68-163,139.80-1,407,756.75-12,147,735.27
Tax Rate 0.39%1.99%8.27%0.14%0.02%2.16%2.16%2.16%2.16%2.16%
EBIAT -33.27-22.67-15.74-11.94-10.40-2,143.55-18,497.04-159,613.59-1,377,328.58-11,885,166.29
Depreciation 0.233.702.871.421.3629.59255.362,203.5719,014.90164,082.33
Accounts Receivable --0.870.24-0.180.30-36.55-286.33-2,470.78-21,320.73-183,979.67
Inventories --1.120.980.29-0.26-17.99-139.98-1,207.87-10,422.85-89,940.28
Accounts Payable -1.010.940.74-1.74103.45807.056,964.1360,094.46518,563.71
Capital Expenditure -1.91-3.35-0.61-0.51-0.55-128.76-1,111.08-9,587.65-82,733.24-713,917.05
UFCF -34.95-23.30-11.33-10.18-11.28-2,193.81-18,972.01-163,712.19-1,412,696.05-12,190,357.26
WACC
PV UFCF -1,872.65-13,823.84-101,824.94-750,031.60-5,524,652.54
SUM PV UFCF -6,392,205.56

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 17.15
Free cash flow (t + 1) -12,434,164.40
Terminal Value -82,073,692.44
Present Value of Terminal Value -37,195,680.43

Intrinsic Value

Enterprise Value -43,587,885.99
Net Debt 1.81
Equity Value -43,587,887.80
Shares Outstanding 3.07
Equity Value Per Share -14,193,253.75