Discounted Cash Flow (DCF) Analysis Unlevered
RumbleON, Inc. (RMBL)
$6.03
+0.18 (+3.08%)
All numbers are in Millions, Currency in USD
Operating Data
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 156.40 | 840.63 | 416.43 | 934.73 | 1,793.37 | 4,498.46 | 11,283.87 | 28,304.28 | 70,998.05 | 178,090.45 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
EBITDA | -22.42 | -36.01 | -22.03 | -6.84 | 90.60 | -176.23 | -442.04 | -1,108.81 | -2,781.32 | -6,976.62 |
EBITDA (%) | ||||||||||
EBIT | -23.40 | -37.79 | -24.17 | -12.95 | 67.52 | -205.88 | -516.43 | -1,295.40 | -3,249.35 | -8,150.63 |
EBIT (%) | ||||||||||
Depreciation | 0.98 | 1.79 | 2.14 | 6.10 | 23.08 | 29.65 | 74.39 | 186.59 | 468.03 | 1,174.01 |
Depreciation (%) |
Balance Sheet Data
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Total Cash | 9.13 | 0.05 | 1.47 | 48.97 | 48.58 | 127.28 | 319.27 | 800.85 | 2,008.84 | 5,038.94 |
---|---|---|---|---|---|---|---|---|---|---|
Total Cash (%) | ||||||||||
Account Receivables | 8.47 | 8.48 | 9.41 | 41.62 | 33.76 | 135.10 | 338.88 | 850.04 | 2,132.24 | 5,348.47 |
Account Receivables (%) | ||||||||||
Inventories | 52.19 | 57.38 | 21.36 | 201.67 | 331.72 | 768.32 | 1,927.24 | 4,834.27 | 12,126.21 | 30,417.22 |
Inventories (%) | ||||||||||
Accounts Payable | 7.53 | 8.73 | 12.71 | 10.03 | 15.60 | 97.58 | 244.77 | 613.98 | 1,540.11 | 3,863.18 |
Accounts Payable (%) | ||||||||||
Capital Expenditure | -2.17 | -3.21 | -2.32 | -9.59 | -12.62 | -36.48 | -91.51 | -229.54 | -575.78 | -1,444.27 |
Capital Expenditure (%) |
Weighted Average Cost Of Capital
Share price | $ 6.03 |
---|---|
Beta | 2.074 |
Diluted Shares Outstanding | 15.87 |
Cost of Debt | |
Tax Rate | 21.73 |
After-tax Cost of Debt | 5.78% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 13.945 |
Total Debt | 730.15 |
Total Equity | 95.70 |
Total Capital | 825.86 |
Debt Weighting | 88.41 |
Equity Weighting | 11.59 |
Wacc |
Build Up Free Cash
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 156.40 | 840.63 | 416.43 | 934.73 | 1,793.37 | 4,498.46 | 11,283.87 | 28,304.28 | 70,998.05 | 178,090.45 |
---|---|---|---|---|---|---|---|---|---|---|
EBITDA | -22.42 | -36.01 | -22.03 | -6.84 | 90.60 | -176.23 | -442.04 | -1,108.81 | -2,781.32 | -6,976.62 |
EBIT | -23.40 | -37.79 | -24.17 | -12.95 | 67.52 | -205.88 | -516.43 | -1,295.40 | -3,249.35 | -8,150.63 |
Tax Rate | 0.00% | -15.91% | -26.55% | 69.02% | 21.73% | 9.66% | 9.66% | 9.66% | 9.66% | 9.66% |
EBIAT | -23.40 | -43.81 | -30.59 | -4.01 | 52.85 | -186 | -466.56 | -1,170.30 | -2,935.57 | -7,363.55 |
Depreciation | 0.98 | 1.79 | 2.14 | 6.10 | 23.08 | 29.65 | 74.39 | 186.59 | 468.03 | 1,174.01 |
Accounts Receivable | - | -0.02 | -0.93 | -32.21 | 7.86 | -101.34 | -203.78 | -511.16 | -1,282.19 | -3,216.24 |
Inventories | - | -5.19 | 36.02 | -180.31 | -130.06 | -436.60 | -1,158.92 | -2,907.03 | -7,291.94 | -18,291 |
Accounts Payable | - | 1.20 | 3.98 | -2.68 | 5.57 | 81.98 | 147.19 | 369.21 | 926.12 | 2,323.07 |
Capital Expenditure | -2.17 | -3.21 | -2.32 | -9.59 | -12.62 | -36.48 | -91.51 | -229.54 | -575.78 | -1,444.27 |
UFCF | -24.59 | -49.23 | 8.30 | -222.69 | -53.31 | -648.78 | -1,699.20 | -4,262.24 | -10,691.33 | -26,817.98 |
WACC | ||||||||||
PV UFCF | -607.93 | -1,491.94 | -3,506.71 | -8,242.30 | -19,373 | |||||
SUM PV UFCF | -33,221.89 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 6.72 |
Free cash flow (t + 1) | -27,354.34 |
Terminal Value | -579,541.04 |
Present Value of Terminal Value | -418,653.87 |
Intrinsic Value
Enterprise Value | -451,875.76 |
---|---|
Net Debt | 681.58 |
Equity Value | -452,557.34 |
Shares Outstanding | 15.87 |
Equity Value Per Share | -28,514.72 |