Discounted Cash Flow (DCF) Analysis Unlevered
Greenpro Capital Corp. (GRNQ)
$2.14
-0.17 (-7.36%)
All numbers are in Millions, Currency in USD
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 | 3.92 | 4.21 | 4.48 | 2.25 | 2.95 | 2.91 | 2.88 | 2.84 | 2.81 | 2.77 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| EBITDA | -1.97 | -8.16 | -1 | -2.10 | -1.10 | -2.31 | -2.28 | -2.26 | -2.23 | -2.20 |
| EBITDA (%) | ||||||||||
| EBIT | -2.16 | -8.39 | -1.26 | -2.62 | -1.42 | -2.60 | -2.57 | -2.54 | -2.51 | -2.48 |
| EBIT (%) | ||||||||||
| Depreciation | 0.19 | 0.23 | 0.27 | 0.52 | 0.32 | 0.29 | 0.29 | 0.28 | 0.28 | 0.28 |
| 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 | 1.16 | 2.17 | 1.89 | 1.69 | 5.34 | 2.21 | 2.18 | 2.16 | 2.13 | 2.10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Cash (%) | ||||||||||
| Account Receivables | 0.35 | 0.19 | 0.22 | 0.25 | 0.03 | 0.18 | 0.18 | 0.17 | 0.17 | 0.17 |
| Account Receivables (%) | ||||||||||
| Inventories | - | - | - | - | - | - | - | - | - | - |
| Inventories (%) | ||||||||||
| Accounts Payable | - | - | 0.76 | 0.70 | 0.71 | 0.70 | 0.69 | 0.68 | 0.67 | 0.67 |
| Accounts Payable (%) | ||||||||||
| Capital Expenditure | -3.15 | -0.01 | -0.01 | -0 | -0.04 | -0.48 | -0.47 | -0.47 | -0.46 | -0.46 |
| Capital Expenditure (%) |
Weighted Average Cost Of Capital
| Share price | $ 2.14 |
|---|---|
| Beta | 0.520 |
| Diluted Shares Outstanding | 5.55 |
| Cost of Debt | |
| Tax Rate | -0.03 |
| After-tax Cost of Debt | 11,947.63% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 5.220 |
| Total Debt | 0.11 |
| Total Equity | 11.88 |
| Total Capital | 11.99 |
| Debt Weighting | 0.90 |
| Equity Weighting | 99.10 |
| 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 | 3.92 | 4.21 | 4.48 | 2.25 | 2.95 | 2.91 | 2.88 | 2.84 | 2.81 | 2.77 |
|---|---|---|---|---|---|---|---|---|---|---|
| EBITDA | -1.97 | -8.16 | -1 | -2.10 | -1.10 | -2.31 | -2.28 | -2.26 | -2.23 | -2.20 |
| EBIT | -2.16 | -8.39 | -1.26 | -2.62 | -1.42 | -2.60 | -2.57 | -2.54 | -2.51 | -2.48 |
| Tax Rate | 25.06% | -2.90% | 1.99% | -0.24% | -0.03% | 4.78% | 4.78% | 4.78% | 4.78% | 4.78% |
| EBIAT | -1.62 | -8.63 | -1.24 | -2.62 | -1.42 | -2.48 | -2.45 | -2.42 | -2.39 | -2.36 |
| Depreciation | 0.19 | 0.23 | 0.27 | 0.52 | 0.32 | 0.29 | 0.29 | 0.28 | 0.28 | 0.28 |
| Accounts Receivable | - | 0.16 | -0.03 | -0.03 | 0.22 | -0.15 | 0 | 0 | 0 | 0 |
| Inventories | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | - | - | -0.06 | 0.01 | -0.01 | -0.01 | -0.01 | -0.01 | -0.01 |
| Capital Expenditure | -3.15 | -0.01 | -0.01 | -0 | -0.04 | -0.48 | -0.47 | -0.47 | -0.46 | -0.46 |
| UFCF | -4.58 | -8.25 | -1.01 | -2.20 | -0.91 | -2.82 | -2.64 | -2.61 | -2.58 | -2.55 |
| WACC | ||||||||||
| PV UFCF | -1.32 | -0.58 | -0.27 | -0.12 | -0.06 | |||||
| SUM PV UFCF | -2.36 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 113.22 |
| Free cash flow (t + 1) | -2.60 |
| Terminal Value | -2.34 |
| Present Value of Terminal Value | -0.05 |
Intrinsic Value
| Enterprise Value | -2.41 |
|---|---|
| Net Debt | -5.23 |
| Equity Value | 2.82 |
| Shares Outstanding | 5.55 |
| Equity Value Per Share | 0.51 |