Discounted Cash Flow (DCF) Analysis Unlevered
GeNeuro SA (GNRO.PA)
1.765 €
+0.01 (+0.28%)
All numbers are in Millions, Currency in USD
Operating Data
Year A/P | 2017 Actual | 2018 Actual | 2019 Projected | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 14.95 | 7.46 | 3.73 | 1.86 | 0.93 | 0.46 | 0.23 | 0.12 | 0.06 | 0.03 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
EBITDA | -5.76 | -8.26 | -8.66 | -8.53 | -7.02 | -1.48 | -0.74 | -0.37 | -0.18 | -0.09 |
EBITDA (%) | ||||||||||
EBIT | -5.84 | -8.33 | -9.02 | -8.89 | -7.32 | -1.54 | -0.77 | -0.38 | -0.19 | -0.10 |
EBIT (%) | ||||||||||
Depreciation | 0.07 | 0.07 | 0.35 | 0.36 | 0.30 | 0.06 | 0.03 | 0.01 | 0.01 | 0 |
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 | 26.60 | 8.96 | 5.93 | 6.84 | 5.48 | 1.31 | 0.66 | 0.33 | 0.16 | 0.08 |
---|---|---|---|---|---|---|---|---|---|---|
Total Cash (%) | ||||||||||
Account Receivables | - | - | - | - | - | - | - | - | - | - |
Account Receivables (%) | ||||||||||
Inventories | - | - | - | - | - | - | - | - | - | - |
Inventories (%) | ||||||||||
Accounts Payable | 3.47 | 5.43 | 1.25 | 0.54 | 0.58 | 0.21 | 0.10 | 0.05 | 0.03 | 0.01 |
Accounts Payable (%) | ||||||||||
Capital Expenditure | -0.07 | -0.08 | -0.05 | -0.02 | -0.04 | -0.01 | -0 | -0 | -0 | -0 |
Capital Expenditure (%) |
Weighted Average Cost Of Capital
Share price | $ 1.765 |
---|---|
Beta | 0.296 |
Diluted Shares Outstanding | 21.28 |
Cost of Debt | |
Tax Rate | 0.00 |
After-tax Cost of Debt | -41.60% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 5.144 |
Total Debt | 1.22 |
Total Equity | 37.56 |
Total Capital | 38.78 |
Debt Weighting | 3.14 |
Equity Weighting | 96.86 |
Wacc |
Build Up Free Cash
Year A/P | 2017 Actual | 2018 Actual | 2019 Projected | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 14.95 | 7.46 | 3.73 | 1.86 | 0.93 | 0.46 | 0.23 | 0.12 | 0.06 | 0.03 |
---|---|---|---|---|---|---|---|---|---|---|
EBITDA | -5.76 | -8.26 | -8.66 | -8.53 | -7.02 | -1.48 | -0.74 | -0.37 | -0.18 | -0.09 |
EBIT | -5.84 | -8.33 | -9.02 | -8.89 | -7.32 | -1.54 | -0.77 | -0.38 | -0.19 | -0.10 |
Tax Rate | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EBIAT | -5.84 | -8.33 | -9.02 | -8.89 | -7.32 | -1.54 | -0.77 | -0.38 | -0.19 | -0.10 |
Depreciation | 0.07 | 0.07 | 0.35 | 0.36 | 0.30 | 0.06 | 0.03 | 0.01 | 0.01 | 0 |
Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
Inventories | - | - | - | - | - | - | - | - | - | - |
Accounts Payable | - | 1.96 | -4.19 | -0.71 | 0.04 | -0.38 | -0.10 | -0.05 | -0.03 | -0.01 |
Capital Expenditure | -0.07 | -0.08 | -0.05 | -0.02 | -0.04 | -0.01 | -0 | -0 | -0 | -0 |
UFCF | -5.84 | -6.38 | -12.90 | -9.26 | -7.03 | -1.86 | -0.85 | -0.42 | -0.21 | -0.11 |
WACC | ||||||||||
PV UFCF | -13.87 | -9.60 | -7.03 | -1.80 | -0.79 | -0.38 | -0.18 | -0.09 | ||
SUM PV UFCF | -3.23 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 3.68 |
Free cash flow (t + 1) | -0.11 |
Terminal Value | -6.39 |
Present Value of Terminal Value | -5.33 |
Intrinsic Value
Enterprise Value | -8.57 |
---|---|
Net Debt | -4.26 |
Equity Value | -4.31 |
Shares Outstanding | 21.28 |
Equity Value Per Share | -0.20 |