Discounted Cash Flow (DCF) Analysis Unlevered

NovaBay Pharmaceuticals, Inc. (NBY)

$2.29

+0.27 (+13.37%)
All numbers are in Millions, Currency in USD
Stock DCF: - | 2.29 | undervalue

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 18.2312.516.609.938.427.516.705.975.324.75
Revenue (%)
EBITDA -7.30-6.27-9.59-10.98-5.71-6.21-5.54-4.94-4.41-3.93
EBITDA (%)
EBIT -7.40-6.54-9.65-11.03-5.82-6.30-5.62-5.01-4.47-3.98
EBIT (%)
Depreciation 0.090.270.070.050.120.080.070.070.060.05
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 3.203.186.9411.957.505.374.794.273.813.39
Total Cash (%)
Account Receivables 3.723.491.071.111.671.431.281.141.020.91
Account Receivables (%)
Inventories 0.500.280.490.613.220.850.760.680.600.54
Inventories (%)
Accounts Payable 0.470.550.330.301.040.410.370.330.290.26
Accounts Payable (%)
Capital Expenditure -0.24-0.04-0.02-0.03-0.05-0.04-0.04-0.03-0.03-0.03
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 2.29
Beta 2.712
Diluted Shares Outstanding 0.62
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt -%
Risk-Free Rate
Market Risk Premium
Cost of Equity 16.320
Total Debt 0.55
Total Equity 1.42
Total Capital 1.97
Debt Weighting 28.01
Equity Weighting 71.99
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 18.2312.516.609.938.427.516.705.975.324.75
EBITDA -7.30-6.27-9.59-10.98-5.71-6.21-5.54-4.94-4.41-3.93
EBIT -7.40-6.54-9.65-11.03-5.82-6.30-5.62-5.01-4.47-3.98
Tax Rate -0.04%-0.06%-0.06%-0.05%0.00%-0.04%-0.04%-0.04%-0.04%-0.04%
EBIAT -7.40-6.54-9.66-11.04-5.82-6.30-5.62-5.01-4.47-3.98
Depreciation 0.090.270.070.050.120.080.070.070.060.05
Accounts Receivable -0.222.43-0.04-0.560.240.160.140.120.11
Inventories -0.22-0.21-0.12-2.612.370.090.080.070.07
Accounts Payable -0.09-0.22-0.030.74-0.63-0.04-0.04-0.04-0.03
Capital Expenditure -0.24-0.04-0.02-0.03-0.05-0.04-0.04-0.03-0.03-0.03
UFCF -7.55-5.79-7.62-11.20-8.19-4.29-5.38-4.80-4.28-3.81
WACC
PV UFCF -----
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -
Free cash flow (t + 1) -3.89
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt -6.95
Equity Value -
Shares Outstanding 0.62
Equity Value Per Share -