Discounted Cash Flow (DCF) Analysis Unlevered

iFabric Corp. (IFA.TO)

$0.99

-0.01 (-1.00%)
All numbers are in Millions, Currency in USD
Stock DCF: 0.12 | 0.99 | 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 18.8615.1210.4411.5219.7621.3022.9624.7526.6828.75
Revenue (%)
EBITDA 2.521.50-1.51-0.553.180.860.9311.081.16
EBITDA (%)
EBIT 2.451.44-1.57-0.663.090.740.790.860.921
EBIT (%)
Depreciation 0.070.070.070.110.090.130.130.150.160.17
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 0.673.542.291.168.904.434.785.155.555.98
Total Cash (%)
Account Receivables 5.702.202.664.656.506.116.597.107.658.25
Account Receivables (%)
Inventories 3.914.292.753.143.025.035.425.846.306.79
Inventories (%)
Accounts Payable 0.890.520.541.242.231.511.631.751.892.04
Accounts Payable (%)
Capital Expenditure -0.01-0.04-0.08-0.18-0.25-0.16-0.18-0.19-0.21-0.22
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 0.99
Beta 1.367
Diluted Shares Outstanding 29.21
Cost of Debt
Tax Rate 22.10
After-tax Cost of Debt 3.29%
Risk-Free Rate
Market Risk Premium
Cost of Equity 10.257
Total Debt 1.27
Total Equity 28.92
Total Capital 30.19
Debt Weighting 4.20
Equity Weighting 95.80
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 18.8615.1210.4411.5219.7621.3022.9624.7526.6828.75
EBITDA 2.521.50-1.51-0.553.180.860.9311.081.16
EBIT 2.451.44-1.57-0.663.090.740.790.860.921
Tax Rate 31.61%32.60%19.67%12.92%22.10%23.78%23.78%23.78%23.78%23.78%
EBIAT 1.670.97-1.26-0.572.410.560.610.650.700.76
Depreciation 0.070.070.070.110.090.130.130.150.160.17
Accounts Receivable -3.49-0.46-1.99-1.850.39-0.48-0.51-0.55-0.60
Inventories --0.381.54-0.390.12-2.01-0.39-0.42-0.45-0.49
Accounts Payable --0.380.030.700.99-0.720.120.130.140.15
Capital Expenditure -0.01-0.04-0.08-0.18-0.25-0.16-0.18-0.19-0.21-0.22
UFCF 1.743.73-0.16-2.311.50-1.82-0.19-0.20-0.22-0.23
WACC
PV UFCF -1.66-0.15-0.15-0.15-0.15
SUM PV UFCF -2.26

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 9.96
Free cash flow (t + 1) -0.24
Terminal Value -2.99
Present Value of Terminal Value -1.86

Intrinsic Value

Enterprise Value -4.12
Net Debt -7.63
Equity Value 3.52
Shares Outstanding 29.21
Equity Value Per Share 0.12