Discounted Cash Flow (DCF) Analysis Unlevered

Interpace Biosciences, Inc. (IDXG)

$1.045

+0.03 (+3.47%)
All numbers are in Millions, Currency in USD
Stock DCF: -370.11 | 1.045 | 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 15.9021.9024.0832.4041.3152.6567.1085.52108.99138.90
Revenue (%)
EBITDA -8.49-8.38-22.13-20.35-9.32-28.32-36.09-45.99-58.61-74.70
EBITDA (%)
EBIT -12.18-11.84-26.32-25.85-14.69-37.42-47.68-60.77-77.45-98.70
EBIT (%)
Depreciation 3.693.464.195.505.379.1011.6014.7818.8324
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 15.206.072.322.773.0615.6819.9925.4732.4641.37
Total Cash (%)
Account Receivables 3.449.4810.208.036.1615.4819.7225.1432.0340.83
Account Receivables (%)
Inventories --1.822.051.793.204.085.206.628.44
Inventories (%)
Accounts Payable 0.391.064.814.512.695.036.408.1610.4013.26
Accounts Payable (%)
Capital Expenditure -0.03-0.45-0.13-1.57-0.35-0.89-1.14-1.45-1.85-2.36
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 1.045
Beta 0.821
Diluted Shares Outstanding 4.13
Cost of Debt
Tax Rate 3.05
After-tax Cost of Debt 6.51%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.409
Total Debt 13.72
Total Equity 4.32
Total Capital 18.04
Debt Weighting 76.04
Equity Weighting 23.96
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 15.9021.9024.0832.4041.3152.6567.1085.52108.99138.90
EBITDA -8.49-8.38-22.13-20.35-9.32-28.32-36.09-45.99-58.61-74.70
EBIT -12.18-11.84-26.32-25.85-14.69-37.42-47.68-60.77-77.45-98.70
Tax Rate 6.98%-0.02%-0.22%-1.16%3.05%1.72%1.72%1.72%1.72%1.72%
EBIAT -11.33-11.84-26.37-26.15-14.24-36.77-46.86-59.72-76.11-97
Depreciation 3.693.464.195.505.379.1011.6014.7818.8324
Accounts Receivable --6.05-0.712.171.87-9.32-4.25-5.41-6.90-8.79
Inventories ----0.230.27-1.41-0.88-1.12-1.43-1.82
Accounts Payable -0.673.75-0.30-1.822.331.381.762.242.85
Capital Expenditure -0.03-0.45-0.13-1.57-0.35-0.89-1.14-1.45-1.85-2.36
UFCF -7.67-14.20-19.28-20.58-8.90-36.97-40.15-51.17-65.21-83.11
WACC
PV UFCF -34.64-35.25-42.10-50.28-60.04
SUM PV UFCF -222.31

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.72
Free cash flow (t + 1) -84.77
Terminal Value -1,796.04
Present Value of Terminal Value -1,297.44

Intrinsic Value

Enterprise Value -1,519.74
Net Debt 10.65
Equity Value -1,530.40
Shares Outstanding 4.13
Equity Value Per Share -370.11