Discounted Cash Flow (DCF) Analysis Unlevered

Precipio, Inc. (PRPO)

$ 1.98
-0.07 (-3.41%)
Stock DCF: -66.95 | 1.98 | 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 -7.56-5.45-14.71-11.90-7.79-32.27-46.86-68.06-98.83-143.53
EBITDA (%)
EBIT -7.82-6.20-15.97-13.31-9.15-35.31-51.27-74.46-108.13-157.02
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 $ 1.98
Beta 2.492
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 13.206
Total Debt 1.01
Total Equity 31.69
Total Capital 32.70
Debt Weighting 3.09
Equity Weighting 96.91
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 -7.56-5.45-14.71-11.90-7.79-32.27-46.86-68.06-98.83-143.53
EBIT -7.82-6.20-15.97-13.31-9.15-35.31-51.27-74.46-108.13-157.02
Tax Rate 7.90%0.00%1.75%0.53%-0.25%1.98%1.98%1.98%1.98%1.98%
EBIAT -7.20-6.20-15.69-13.24-9.17-34.61-50.25-72.98-105.98-153.91
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 -6.96-7.68-14.46-14.99-8.67-17.42-39.54-57.42-83.39-121.09
WACC
PV UFCF -15.42-30.99-39.85-51.23-65.87
SUM PV UFCF -203.36

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 12.95
Free cash flow (t + 1) -127.15
Terminal Value -1,599.34
Present Value of Terminal Value -869.98

Intrinsic Value

Enterprise Value -1,073.34
Net Debt -1.65
Equity Value -1,071.70
Shares Outstanding 16.01
Equity Value Per Share -66.95