Discounted Cash Flow (DCF) Analysis Unlevered

LXRandCo, Inc. (LXR.TO)

$0.115

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: -0.79 | 0.115 | 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 37.0739.0240.0713.7818.0316.8215.7014.6513.6612.75
Revenue (%)
EBITDA -17.01-20.30-8.80-6.50-2.06-6-5.60-5.23-4.88-4.55
EBITDA (%)
EBIT -17.49-21.63-9.89-7.12-2.38-6.46-6.03-5.63-5.25-4.90
EBIT (%)
Depreciation 0.471.321.090.620.320.460.430.400.370.35
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 4.022.323.507.293.703.333.112.902.702.52
Total Cash (%)
Account Receivables 5.212.043.801.583.131.941.811.691.581.47
Account Receivables (%)
Inventories 15.8710.507.653.694.614.754.434.133.863.60
Inventories (%)
Accounts Payable 5.835.635.683.374.513.162.942.752.562.39
Accounts Payable (%)
Capital Expenditure -2.94-2.83-0.03-0.02-0.04-0.53-0.49-0.46-0.43-0.40
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 0.115
Beta 1.100
Diluted Shares Outstanding 92.78
Cost of Debt
Tax Rate -0.31
After-tax Cost of Debt 8.57%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.003
Total Debt 6
Total Equity 10.67
Total Capital 16.67
Debt Weighting 35.99
Equity Weighting 64.01
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 37.0739.0240.0713.7818.0316.8215.7014.6513.6612.75
EBITDA -17.01-20.30-8.80-6.50-2.06-6-5.60-5.23-4.88-4.55
EBIT -17.49-21.63-9.89-7.12-2.38-6.46-6.03-5.63-5.25-4.90
Tax Rate -0.82%-12.79%-4.20%-0.02%-0.31%-3.63%-3.63%-3.63%-3.63%-3.63%
EBIAT -17.63-24.39-10.31-7.12-2.38-6.70-6.25-5.83-5.44-5.08
Depreciation 0.471.321.090.620.320.460.430.400.370.35
Accounts Receivable -3.17-1.762.22-1.551.190.130.120.110.11
Inventories -5.382.853.95-0.92-0.140.320.300.280.26
Accounts Payable --0.200.05-2.311.14-1.35-0.21-0.20-0.18-0.17
Capital Expenditure -2.94-2.83-0.03-0.02-0.04-0.53-0.49-0.46-0.43-0.40
UFCF -20.10-17.54-8.11-2.66-3.43-7.07-6.08-5.67-5.29-4.93
WACC
PV UFCF -6.49-5.13-4.40-3.77-3.23
SUM PV UFCF -23.01

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.85
Free cash flow (t + 1) -5.03
Terminal Value -73.48
Present Value of Terminal Value -48.09

Intrinsic Value

Enterprise Value -71.10
Net Debt 2.30
Equity Value -73.41
Shares Outstanding 92.78
Equity Value Per Share -0.79