Discounted Cash Flow (DCF) Analysis Unlevered

GeNeuro SA (GNRO.PA)

2.47 €

+0.18 (+7.86%)
All numbers are in Millions, Currency in USD
Stock DCF: -0.16 | 2.47 | overvalue

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 14.957.463.731.860.930.460.230.120.060.03
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 0.070.070.350.360.300.060.030.010.010
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 26.608.965.936.845.481.310.660.330.160.08
Total Cash (%)
Account Receivables ----------
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 3.475.431.250.540.580.210.100.050.030.01
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 $ 2.47
Beta 0.333
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 5.045
Total Debt 1.22
Total Equity 52.56
Total Capital 53.78
Debt Weighting 2.26
Equity Weighting 97.74
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 14.957.463.731.860.930.460.230.120.060.03
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 0.070.070.350.360.300.060.030.010.010
Accounts Receivable ----------
Inventories ----------
Accounts Payable -1.96-4.19-0.710.04-0.38-0.10-0.05-0.03-0.01
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 -13.95-9.63-7.03-1.79-0.78-0.38-0.18-0.09
SUM PV UFCF -3.22

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 3.99
Free cash flow (t + 1) -0.11
Terminal Value -5.39
Present Value of Terminal Value -4.44

Intrinsic Value

Enterprise Value -7.65
Net Debt -4.26
Equity Value -3.39
Shares Outstanding 21.28
Equity Value Per Share -0.16