Discounted Cash Flow (DCF) Analysis Unlevered

O2Micro International Limited (OIIM)

$3.38

+0.01 (+0.30%)
All numbers are in Millions, Currency in USD
Stock DCF: - | 3.38 | 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 60.2062.7160.9378.33101.10115.99133.09152.70175.20201.02
Revenue (%)
EBITDA -3.474.87-2.0910.2917.436.727.718.8410.1511.64
EBITDA (%)
EBIT -5.143.23-3.877.0613.082.843.263.744.294.92
EBIT (%)
Depreciation 1.671.641.783.234.353.884.455.115.866.72
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 46.1238.5946.3947.8149.9775.3386.4399.17113.78130.55
Total Cash (%)
Account Receivables 9.4411.6810.5516.4318.7821.1524.2727.8531.9536.66
Account Receivables (%)
Inventories 9.3310.298.8012.5919.5218.9621.7524.9628.6332.85
Inventories (%)
Accounts Payable 2.464.584.8789.178.9710.2911.8113.5515.54
Accounts Payable (%)
Capital Expenditure -0.70-1.27-1.67-2.48-8.81-4.13-4.74-5.44-6.24-7.16
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 3.38
Beta 0.848
Diluted Shares Outstanding 26.98
Cost of Debt
Tax Rate 7.43
After-tax Cost of Debt -%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.790
Total Debt 2.85
Total Equity 91.19
Total Capital 94.04
Debt Weighting 3.03
Equity Weighting 96.97
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 60.2062.7160.9378.33101.10115.99133.09152.70175.20201.02
EBITDA -3.474.87-2.0910.2917.436.727.718.8410.1511.64
EBIT -5.143.23-3.877.0613.082.843.263.744.294.92
Tax Rate -19.67%35.34%-30.27%13.26%7.43%1.22%1.22%1.22%1.22%1.22%
EBIAT -6.152.09-5.046.1312.112.803.223.694.234.86
Depreciation 1.671.641.783.234.353.884.455.115.866.72
Accounts Receivable --2.241.13-5.88-2.35-2.37-3.12-3.58-4.10-4.71
Inventories --0.961.49-3.79-6.940.57-2.79-3.21-3.68-4.22
Accounts Payable -2.120.283.131.18-0.211.321.521.742
Capital Expenditure -0.70-1.27-1.67-2.48-8.81-4.13-4.74-5.44-6.24-7.16
UFCF -5.181.39-2.030.34-0.450.54-1.66-1.91-2.19-2.51
WACC
PV UFCF -----
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -
Free cash flow (t + 1) -2.56
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt -17.93
Equity Value -
Shares Outstanding 26.98
Equity Value Per Share -