Discounted Cash Flow (DCF) Analysis Unlevered

The Joint Corp. (JYNT)

$15.99

+0.24 (+1.52%)
All numbers are in Millions, Currency in USD
Stock DCF: - | 15.99 | 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 25.1631.7948.4558.6881.19109.25147197.79266.13358.10
Revenue (%)
EBITDA -1.221.775.278.1512.038.8011.8515.9421.4528.86
EBITDA (%)
EBIT -3.240.223.375.415.942.473.324.476.028.09
EBIT (%)
Depreciation 2.021.561.902.736.096.338.5211.4715.4320.76
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 4.228.728.4620.5519.5326.3735.4947.7564.2586.45
Total Cash (%)
Account Receivables 1.311.362.771.853.394.936.638.921216.15
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 1.071.251.531.561.713.524.736.378.5711.53
Accounts Payable (%)
Capital Expenditure -0.45-1.39-4.17-4.20-8.38-7.04-9.47-12.75-17.15-23.08
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 15.99
Beta 1.296
Diluted Shares Outstanding 14.97
Cost of Debt
Tax Rate -20.55
After-tax Cost of Debt -%
Risk-Free Rate
Market Risk Premium
Cost of Equity 10.054
Total Debt 22.45
Total Equity 239.38
Total Capital 261.83
Debt Weighting 8.57
Equity Weighting 91.43
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 25.1631.7948.4558.6881.19109.25147197.79266.13358.10
EBITDA -1.221.775.278.1512.038.8011.8515.9421.4528.86
EBIT -3.240.223.375.415.942.473.324.476.028.09
Tax Rate -1.11%-17.52%1.44%-143.27%-20.55%-36.20%-36.20%-36.20%-36.20%-36.20%
EBIAT -3.280.253.3213.177.163.364.536.098.1911.03
Depreciation 2.021.561.902.736.096.338.5211.4715.4320.76
Accounts Receivable --0.05-1.410.92-1.54-1.54-1.70-2.29-3.08-4.15
Inventories ----------
Accounts Payable -0.180.270.040.141.811.221.642.202.96
Capital Expenditure -0.45-1.39-4.17-4.20-8.38-7.04-9.47-12.75-17.15-23.08
UFCF -1.710.55-0.0812.673.472.933.094.165.597.53
WACC
PV UFCF -----
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -
Free cash flow (t + 1) 7.68
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt 2.92
Equity Value -
Shares Outstanding 14.97
Equity Value Per Share -