Discounted Cash Flow (DCF) Analysis Unlevered

Micronet Enertec Technologies Inc. ... (MICTW)

$0.031

-0.01 (-%)
All numbers are in Millions, Currency in USD
Stock DCF: 0.48 | 0.031 | undervalue

Operating Data

Year
A/P
2015
Actual
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Projected
2021
Projected
2022
Projected
2023
Projected
2024
Projected
Revenue 23.5923.5913.2810.830.480.230.110.050.020.01
Revenue (%)
EBITDA -0.34-0.95-4.58-0.59-4.67-0.46-0.22-0.10-0.05-0.02
EBITDA (%)
EBIT -1.94-2.55-5.85-2-4.75-0.49-0.23-0.11-0.05-0.02
EBIT (%)
Depreciation 1.601.601.271.420.090.020.010.0100
Depreciation (%)

Balance Sheet Data

Year
A/P
2015
Actual
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Projected
2021
Projected
2022
Projected
2023
Projected
2024
Projected
Total Cash 83.652.112.174.150.430.200.100.050.02
Total Cash (%)
Account Receivables 12.3511.565.181.010.180.080.040.020.010
Account Receivables (%)
Inventories 7.465.764.984.340.160.080.040.020.010
Inventories (%)
Accounts Payable 5.714.133.971.530.100.050.020.010.010
Accounts Payable (%)
Capital Expenditure -0.37-0.37-0.15-0.04-0.06-0.01-0-0-0-0
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 0.031
Beta -0.283
Diluted Shares Outstanding 10.70
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 5.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 1.542
Total Debt -
Total Equity 0.33
Total Capital 0.33
Debt Weighting 0.00
Equity Weighting 100.00
Wacc

Build Up Free Cash

Year
A/P
2015
Actual
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Projected
2021
Projected
2022
Projected
2023
Projected
2024
Projected
Revenue 23.5923.5913.2810.830.480.230.110.050.020.01
EBITDA -0.34-0.95-4.58-0.59-4.67-0.46-0.22-0.10-0.05-0.02
EBIT -1.94-2.55-5.85-2-4.75-0.49-0.23-0.11-0.05-0.02
Tax Rate 21.21%21.21%7.93%74.79%0.00%25.03%25.03%25.03%25.03%25.03%
EBIAT -1.53-2.01-5.39-0.51-4.75-0.37-0.17-0.08-0.04-0.02
Depreciation 1.601.601.271.420.090.020.010.0100
Accounts Receivable -0.796.384.170.830.090.040.020.010
Inventories -1.700.780.634.190.080.040.020.010
Accounts Payable --1.58-0.16-2.44-1.43-0.05-0.03-0.01-0.01-0
Capital Expenditure -0.37-0.37-0.15-0.04-0.06-0.01-0-0-0-0
UFCF -0.300.142.733.23-1.13-0.22-0.11-0.05-0.02-0.01
WACC
PV UFCF -0.22-0.10-0.05-0.02-0.01
SUM PV UFCF -0.41

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 1.54
Free cash flow (t + 1) -0.01
Terminal Value 2.52
Present Value of Terminal Value 2.33

Intrinsic Value

Enterprise Value 1.93
Net Debt -3.15
Equity Value 5.08
Shares Outstanding 10.70
Equity Value Per Share 0.48