Discounted Cash Flow (DCF) Analysis Unlevered

Motus GI Holdings, Inc. (MOTS)

$0.696

+0.04 (+5.45%)
All numbers are in Millions, Currency in USD
Stock DCF: -48,943.25 | 0.696 | 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 0.040.110.100.390.591.393.267.6617.9942.25
Revenue (%)
EBITDA -22.11-22.86-18.42-17.61-17.76-303.21-711.93-1,671.61-3,924.93-9,215.72
EBITDA (%)
EBIT -22.26-23.09-18.79-18.32-18.60-306.92-720.65-1,692.09-3,973.01-9,328.61
EBIT (%)
Depreciation 0.150.220.380.700.843.718.7220.4848.08112.89
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 21.0928.7320.8222.5614.04319.23749.551,759.934,132.319,702.63
Total Cash (%)
Account Receivables 0.010.080.040.110.060.461.082.535.9413.94
Account Receivables (%)
Inventories 0.021.010.800.500.495.6813.3331.3073.49172.56
Inventories (%)
Accounts Payable --00.010.010.030.080.180.431.01
Accounts Payable (%)
Capital Expenditure -0.55-0.47-0.09-0.47-0.22-6.13-14.39-33.79-79.34-186.29
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 0.696
Beta 1.904
Diluted Shares Outstanding 3.24
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 5.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 12.731
Total Debt 7.54
Total Equity 2.25
Total Capital 9.80
Debt Weighting 77.00
Equity Weighting 23.00
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 0.040.110.100.390.591.393.267.6617.9942.25
EBITDA -22.11-22.86-18.42-17.61-17.76-303.21-711.93-1,671.61-3,924.93-9,215.72
EBIT -22.26-23.09-18.79-18.32-18.60-306.92-720.65-1,692.09-3,973.01-9,328.61
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT -22.26-23.09-18.79-18.32-18.60-306.92-720.65-1,692.09-3,973.01-9,328.61
Depreciation 0.150.220.380.700.843.718.7220.4848.08112.89
Accounts Receivable --0.080.05-0.070.05-0.40-0.62-1.45-3.41-8
Inventories --0.990.210.310.01-5.19-7.65-17.97-42.19-99.07
Accounts Payable ---0.0100.020.040.100.250.58
Capital Expenditure -0.55-0.47-0.09-0.47-0.22-6.13-14.39-33.79-79.34-186.29
UFCF -22.65-24.40-18.25-17.84-17.92-314.91-734.55-1,724.72-4,049.63-9,508.50
WACC
PV UFCF -294.91-644.23-1,416.60-3,114.98-6,849.56
SUM PV UFCF -12,320.29

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.78
Free cash flow (t + 1) -9,698.67
Terminal Value -202,901.08
Present Value of Terminal Value -146,162.10

Intrinsic Value

Enterprise Value -158,482.39
Net Debt -6.50
Equity Value -158,475.89
Shares Outstanding 3.24
Equity Value Per Share -48,943.25