Discounted Cash Flow (DCF) Analysis Unlevered

RumbleON, Inc. (RMBL)

$7.46

+0.34 (+4.78%)
All numbers are in Millions, Currency in USD
Stock DCF: -27,317.29 | 7.46 | overvalue

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 156.40840.63416.43934.731,793.374,498.4611,283.8728,304.2870,998.05178,090.45
Revenue (%)
EBITDA -22.42-36.01-22.03-6.8490.60-176.23-442.04-1,108.81-2,781.32-6,976.62
EBITDA (%)
EBIT -23.40-37.79-24.17-12.9567.52-205.88-516.43-1,295.40-3,249.35-8,150.63
EBIT (%)
Depreciation 0.981.792.146.1023.0829.6574.39186.59468.031,174.01
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 9.130.051.4748.9748.58127.28319.27800.852,008.845,038.94
Total Cash (%)
Account Receivables 8.478.489.4141.6233.76135.10338.88850.042,132.245,348.47
Account Receivables (%)
Inventories 52.1957.3821.36201.67331.72768.321,927.244,834.2712,126.2130,417.22
Inventories (%)
Accounts Payable 7.538.7312.7110.0315.6097.58244.77613.981,540.113,863.18
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 $ 7.46
Beta 2.024
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 13.838
Total Debt 730.15
Total Equity 118.40
Total Capital 848.55
Debt Weighting 86.05
Equity Weighting 13.95
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 156.40840.63416.43934.731,793.374,498.4611,283.8728,304.2870,998.05178,090.45
EBITDA -22.42-36.01-22.03-6.8490.60-176.23-442.04-1,108.81-2,781.32-6,976.62
EBIT -23.40-37.79-24.17-12.9567.52-205.88-516.43-1,295.40-3,249.35-8,150.63
Tax Rate 0.00%-15.91%-26.55%69.02%21.73%9.66%9.66%9.66%9.66%9.66%
EBIAT -23.40-43.81-30.59-4.0152.85-186-466.56-1,170.30-2,935.57-7,363.55
Depreciation 0.981.792.146.1023.0829.6574.39186.59468.031,174.01
Accounts Receivable --0.02-0.93-32.217.86-101.34-203.78-511.16-1,282.19-3,216.24
Inventories --5.1936.02-180.31-130.06-436.60-1,158.92-2,907.03-7,291.94-18,291
Accounts Payable -1.203.98-2.685.5781.98147.19369.21926.122,323.07
Capital Expenditure -2.17-3.21-2.32-9.59-12.62-36.48-91.51-229.54-575.78-1,444.27
UFCF -24.59-49.238.30-222.69-53.31-648.78-1,699.20-4,262.24-10,691.33-26,817.98
WACC
PV UFCF -606.91-1,486.92-3,489.03-8,186.93-19,210.45
SUM PV UFCF -32,980.23

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.90
Free cash flow (t + 1) -27,354.34
Terminal Value -558,251.78
Present Value of Terminal Value -399,890.96

Intrinsic Value

Enterprise Value -432,871.19
Net Debt 681.58
Equity Value -433,552.77
Shares Outstanding 15.87
Equity Value Per Share -27,317.29