Discounted Cash Flow (DCF) Analysis Unlevered

Nanobiotix S.A. (NANO.PA)

3.585 €

-0.03 (-0.97%)
All numbers are in Millions, Currency in USD
Stock DCF: 0.68 | 3.585 | 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 0.250.120.070.050.0100000
Revenue (%)
EBITDA -25.63-28.28-44.35-31.49-44.85-6.06-3-1.49-0.74-0.37
EBITDA (%)
EBIT -26.03-28.90-46.12-33.25-46.41-6.28-3.11-1.54-0.76-0.38
EBIT (%)
Depreciation 0.400.621.771.751.560.220.110.050.030.01
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 47.2136.2035.09119.1583.9211.685.792.871.420.70
Total Cash (%)
Account Receivables --8.363.8810.500.250.120.060.03
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 5.146.516.155.570.700.340.170.080.040.02
Accounts Payable (%)
Capital Expenditure --0.51-1.44-0.11-0.23-0.06-0.03-0.02-0.01-0
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 3.585
Beta 1.885
Diluted Shares Outstanding 107.49
Cost of Debt
Tax Rate -0.01
After-tax Cost of Debt 5.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 12.532
Total Debt -
Total Equity 385.34
Total Capital 385.34
Debt Weighting 0.00
Equity Weighting 100.00
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 0.250.120.070.050.0100000
EBITDA -25.63-28.28-44.35-31.49-44.85-6.06-3-1.49-0.74-0.37
EBIT -26.03-28.90-46.12-33.25-46.41-6.28-3.11-1.54-0.76-0.38
Tax Rate -0.00%0.00%-0.01%0.07%-0.01%0.01%0.01%0.01%0.01%0.01%
EBIAT -26.03-28.90-46.12-33.22-46.41-6.28-3.11-1.54-0.76-0.38
Depreciation 0.400.621.771.751.560.220.110.050.030.01
Accounts Receivable ---4.482.880.510.250.120.060.03
Inventories ----------
Accounts Payable -1.37-0.36-0.58-4.88-0.35-0.17-0.09-0.04-0.02
Capital Expenditure --0.51-1.44-0.11-0.23-0.06-0.03-0.02-0.01-0
UFCF -25.63-27.42-46.16-27.67-47.09-5.96-2.96-1.46-0.73-0.36
WACC
PV UFCF -5.30-2.33-1.03-0.45-0.20
SUM PV UFCF -9.31

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 12.53
Free cash flow (t + 1) -0.37
Terminal Value -3.48
Present Value of Terminal Value -1.93

Intrinsic Value

Enterprise Value -11.24
Net Debt -83.92
Equity Value 72.68
Shares Outstanding 107.49
Equity Value Per Share 0.68