Discounted Cash Flow (DCF) Analysis Unlevered

Precipio, Inc. (PRPO)

$ 1.2
-0.02 (-1.64%)
All numbers are in Millions, Currency in USD
Stock DCF: -74.68 | 1.2 | overvalue

Operating Data

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 1.561.722.863.136.098.8512.8518.6627.0939.35
Revenue (%)
EBITDA -7.35-17.63-14.71-11.90-9.27-44.97-65.31-94.84-137.73-200.01
EBITDA (%)
EBIT -7.62-18.37-15.97-13.31-10.62-48.01-69.72-101.24-147.02-213.51
EBIT (%)
Depreciation 0.260.741.261.411.363.044.416.409.3013.50
Depreciation (%)

Balance Sheet Data

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Total Cash 0.110.420.380.852.662.042.974.316.269.09
Total Cash (%)
Account Receivables 0.220.730.690.570.872.012.924.246.168.94
Account Receivables (%)
Inventories 0.020.160.200.180.350.520.761.101.592.31
Inventories (%)
Accounts Payable 6.545.105.171.941.6917.4525.3536.8153.4677.63
Accounts Payable (%)
Capital Expenditure -0.02-0.14-0.10-0.05-0.15-0.30-0.44-0.64-0.93-1.35
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 1.2
Beta 2.449
Diluted Shares Outstanding 16.01
Cost of Debt
Tax Rate -0.25
After-tax Cost of Debt 5.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 13.342
Total Debt 1.01
Total Equity 19.21
Total Capital 20.22
Debt Weighting 5.00
Equity Weighting 95.00
Wacc

Build Up Free Cash

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 1.561.722.863.136.098.8512.8518.6627.0939.35
EBITDA -7.35-17.63-14.71-11.90-9.27-44.97-65.31-94.84-137.73-200.01
EBIT -7.62-18.37-15.97-13.31-10.62-48.01-69.72-101.24-147.02-213.51
Tax Rate 7.90%0.00%1.75%0.53%-0.25%1.98%1.98%1.98%1.98%1.98%
EBIAT -7.01-18.37-15.69-13.24-10.65-47.05-68.33-99.23-144.11-209.28
Depreciation 0.260.741.261.411.363.044.416.409.3013.50
Accounts Receivable --0.510.040.12-0.30-1.14-0.91-1.32-1.92-2.78
Inventories --0.14-0.040.01-0.17-0.17-0.24-0.34-0.50-0.72
Accounts Payable --1.440.07-3.23-0.2415.767.8911.4616.6524.17
Capital Expenditure -0.02-0.14-0.10-0.06-0.15-0.30-0.44-0.64-0.93-1.35
UFCF -6.77-19.85-14.46-14.99-10.16-29.87-57.62-83.67-121.51-176.46
WACC
PV UFCF -26.45-45.18-58.10-74.71-96.07
SUM PV UFCF -300.51

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 12.93
Free cash flow (t + 1) -179.99
Terminal Value -1,646.74
Present Value of Terminal Value -896.56

Intrinsic Value

Enterprise Value -1,197.06
Net Debt -1.65
Equity Value -1,195.42
Shares Outstanding 16.01
Equity Value Per Share -74.68