Discounted Cash Flow (DCF) Analysis Unlevered

Luokung Technology Corp. (LKCO)

$0.1803

-0.00 (-1.42%)
All numbers are in Millions, Currency in USD
Stock DCF: -1,310.25 | 0.1803 | 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 26.0821.0418.7818.26145.07384.961,021.572,710.907,193.8519,090.14
Revenue (%)
EBITDA -3.47-6.65-25-30.23-58.22-295.45-784.03-2,080.55-5,521.11-14,651.23
EBITDA (%)
EBIT -6.78-11.77-31.48-36.24-72.81-383.59-1,017.92-2,701.23-7,168.18-19,022
EBIT (%)
Depreciation 3.325.126.486.0114.5888.14233.89620.671,647.064,370.77
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 0.071.193.700.0716.4428.7676.31202.51537.401,426.09
Total Cash (%)
Account Receivables 23.5329.6236.673.9640.93366.58972.782,581.436,850.2818,178.41
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 2.930.764.315.849.1958.62155.56412.821,095.482,907.05
Accounts Payable (%)
Capital Expenditure -0.01-0.03-0.13-0.03-1.54-1.66-4.40-11.67-30.96-82.16
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 0.1,803
Beta 0.458
Diluted Shares Outstanding 334.91
Cost of Debt
Tax Rate 1.14
After-tax Cost of Debt 6.86%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.971
Total Debt 59.36
Total Equity 60.38
Total Capital 119.75
Debt Weighting 49.57
Equity Weighting 50.43
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 26.0821.0418.7818.26145.07384.961,021.572,710.907,193.8519,090.14
EBITDA -3.47-6.65-25-30.23-58.22-295.45-784.03-2,080.55-5,521.11-14,651.23
EBIT -6.78-11.77-31.48-36.24-72.81-383.59-1,017.92-2,701.23-7,168.18-19,022
Tax Rate 0.00%-0.62%1.59%0.48%1.14%0.52%0.52%0.52%0.52%0.52%
EBIAT -6.78-11.85-30.98-36.07-71.97-381.60-1,012.65-2,687.25-7,131.09-18,923.59
Depreciation 3.325.126.486.0114.5888.14233.89620.671,647.064,370.77
Accounts Receivable --6.09-7.0532.71-36.97-325.65-606.20-1,608.66-4,268.85-11,328.13
Inventories ----------
Accounts Payable --2.173.561.533.3549.4396.94257.25682.661,811.57
Capital Expenditure -0.01-0.03-0.13-0.03-1.54-1.66-4.40-11.67-30.96-82.16
UFCF -3.48-15.03-28.134.14-92.56-571.34-1,292.42-3,429.65-9,101.18-24,151.55
WACC
PV UFCF -536.92-1,141.40-2,846.44-7,098.52-17,702.43
SUM PV UFCF -29,325.71

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.41
Free cash flow (t + 1) -24,634.58
Terminal Value -558,607.26
Present Value of Terminal Value -409,443.85

Intrinsic Value

Enterprise Value -438,769.56
Net Debt 42.92
Equity Value -438,812.48
Shares Outstanding 334.91
Equity Value Per Share -1,310.25