Discounted Cash Flow (DCF) Analysis Unlevered

Intermap Technologies Corporation (IMP.TO)

$0.86

-0.04 (-4.44%)
All numbers are in Millions, Currency in USD
Stock DCF: -0.58 | 0.86 | overvalue

Operating Data

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 15.8210.054.725.806.805.955.224.574.013.51
Revenue (%)
EBITDA 1.70-1.05-2.84-2.34-3.42-1.79-1.57-1.38-1.21-1.06
EBITDA (%)
EBIT 0.36-2.63-4.33-4.11-5.20-3.13-2.74-2.40-2.11-1.85
EBIT (%)
Depreciation 1.341.581.491.761.781.341.171.030.900.79
Depreciation (%)

Balance Sheet Data

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Total Cash 1.281.231.780.190.840.880.770.670.590.52
Total Cash (%)
Account Receivables 3.641.150.631.591.301.120.980.860.760.66
Account Receivables (%)
Inventories ----0.52-0.02-0.27-0.24-0.21-0.18-0.16
Inventories (%)
Accounts Payable 1.121.381.561.971.931.381.211.060.930.82
Accounts Payable (%)
Capital Expenditure -1.19-1.33-0.49-1.39-0.24-0.70-0.61-0.54-0.47-0.41
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 0.86
Beta 1.316
Diluted Shares Outstanding 33.38
Cost of Debt
Tax Rate 0.08
After-tax Cost of Debt 4.88%
Risk-Free Rate
Market Risk Premium
Cost of Equity 10.539
Total Debt 1.17
Total Equity 28.71
Total Capital 29.87
Debt Weighting 3.91
Equity Weighting 96.09
Wacc

Build Up Free Cash

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 15.8210.054.725.806.805.955.224.574.013.51
EBITDA 1.70-1.05-2.84-2.34-3.42-1.79-1.57-1.38-1.21-1.06
EBIT 0.36-2.63-4.33-4.11-5.20-3.13-2.74-2.40-2.11-1.85
Tax Rate -0.21%-0.31%0.08%-0.54%0.08%-0.18%-0.18%-0.18%-0.18%-0.18%
EBIAT 0.36-2.64-4.32-4.13-5.20-3.14-2.75-2.41-2.11-1.85
Depreciation 1.341.581.491.761.781.341.171.030.900.79
Accounts Receivable -2.490.53-0.970.290.170.140.120.110.09
Inventories -----0.490.25-0.03-0.03-0.03-0.02
Accounts Payable -0.260.170.41-0.04-0.55-0.17-0.15-0.13-0.12
Capital Expenditure -1.19-1.33-0.49-1.39-0.24-0.70-0.61-0.54-0.47-0.41
UFCF 0.510.37-2.62-4.31-3.90-2.62-2.25-1.98-1.73-1.52
WACC
PV UFCF -2.37-1.85-1.47-1.17-0.93
SUM PV UFCF -7.80

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 10.32
Free cash flow (t + 1) -1.55
Terminal Value -18.60
Present Value of Terminal Value -11.38

Intrinsic Value

Enterprise Value -19.18
Net Debt 0.33
Equity Value -19.50
Shares Outstanding 33.38
Equity Value Per Share -0.58