Discounted Cash Flow (DCF) Analysis Unlevered

Genasys Inc. (GNSS)

$3.14

-0.05 (-1.57%)
All numbers are in Millions, Currency in USD
Stock DCF: - | 3.14 | undervalue

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 20.3126.3136.9843.014758.2472.1789.43110.82137.33
Revenue (%)
EBITDA -0.53-0.894.187.573.433.524.375.416.708.31
EBITDA (%)
EBIT -0.68-1.373.366.171.142.012.503.093.834.75
EBIT (%)
Depreciation 0.150.480.821.402.291.511.872.322.873.56
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 17.1614.6622.5127.5818.8535.5744.0754.6167.6783.86
Total Cash (%)
Account Receivables 5.683.923.645.447.689.5211.8014.6218.1122.44
Account Receivables (%)
Inventories 5.266.735.845.956.4211.0413.6816.952126.02
Inventories (%)
Accounts Payable 1.113.080.861.372.163.183.944.886.057.50
Accounts Payable (%)
Capital Expenditure -0.18-0.63-0.34-0.14-0.21-0.58-0.72-0.89-1.10-1.37
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 3.14
Beta 0.470
Diluted Shares Outstanding 35.59
Cost of Debt
Tax Rate 38.14
After-tax Cost of Debt -%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.897
Total Debt 6.90
Total Equity 111.75
Total Capital 118.65
Debt Weighting 5.82
Equity Weighting 94.18
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 20.3126.3136.9843.014758.2472.1789.43110.82137.33
EBITDA -0.53-0.894.187.573.433.524.375.416.708.31
EBIT -0.68-1.373.366.171.142.012.503.093.834.75
Tax Rate -29.10%-173.47%17.04%-92.51%38.14%-47.98%-47.98%-47.98%-47.98%-47.98%
EBIAT -0.88-3.752.7811.870.702.983.694.585.677.03
Depreciation 0.150.480.821.402.291.511.872.322.873.56
Accounts Receivable -1.760.27-1.80-2.24-1.84-2.28-2.82-3.50-4.33
Inventories --1.480.90-0.11-0.47-4.62-2.64-3.27-4.05-5.02
Accounts Payable -1.97-2.220.510.791.020.760.941.171.45
Capital Expenditure -0.18-0.63-0.34-0.14-0.21-0.58-0.72-0.89-1.10-1.37
UFCF -0.91-1.632.2211.730.87-1.530.690.851.061.31
WACC
PV UFCF -----
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -
Free cash flow (t + 1) 1.34
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt -6.26
Equity Value -
Shares Outstanding 35.59
Equity Value Per Share -