Discounted Cash Flow (DCF) Analysis Unlevered
RumbleON, Inc. (RMBL)
$15.93
-0.55 (-3.34%)
All numbers are in Millions, Currency in USD
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 | 7.31 | 156.40 | 840.63 | 416.43 | 934.73 | 6,898.80 | 50,916.66 | 375,791.09 | 2,773,531.44 | 20,470,087.75 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
EBITDA | -7.31 | -22.42 | -36.20 | -16.22 | -9.83 | -1,705.75 | -12,589.30 | -92,915.48 | -685,764.02 | -5,061,291.02 |
EBITDA (%) | ||||||||||
EBIT | -7.98 | -23.40 | -37.99 | -18.36 | -15.93 | -1,859.71 | -13,725.64 | -101,302.30 | -747,663.03 | -5,518,137.52 |
EBIT (%) | ||||||||||
Depreciation | 0.67 | 0.98 | 1.79 | 2.14 | 6.10 | 153.97 | 1,136.35 | 8,386.82 | 61,899.01 | 456,846.51 |
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 | 9.17 | 9.13 | 0.05 | 1.47 | 48.97 | 1,889.75 | 13,947.31 | 102,938.35 | 759,737.93 | 5,607,256.51 |
---|---|---|---|---|---|---|---|---|---|---|
Total Cash (%) | ||||||||||
Account Receivables | 0.58 | 8.47 | 8.48 | 9.41 | 41.62 | 290.20 | 2,141.86 | 15,808.01 | 116,671.26 | 861,093.89 |
Account Receivables (%) | ||||||||||
Inventories | 2.83 | 52.19 | 57.38 | 21.36 | 201.67 | 1,458.42 | 10,763.86 | 79,442.83 | 586,328.96 | 4,327,409.10 |
Inventories (%) | ||||||||||
Accounts Payable | 1.09 | 7.53 | 8.73 | 12.71 | 55.81 | 411.89 | 3,039.97 | 22,436.53 | 165,593.11 | 1,222,162.29 |
Accounts Payable (%) | ||||||||||
Capital Expenditure | -1.13 | -2.17 | -3.21 | -2.32 | -9.59 | -259.51 | -1,915.33 | -14,136.14 | -104,332.02 | -770,023.91 |
Capital Expenditure (%) |
Weighted Average Cost Of Capital
Share price | $ 15.93 |
---|---|
Beta | 2.799 |
Diluted Shares Outstanding | 2.18 |
Cost of Debt | |
Tax Rate | 69.02 |
After-tax Cost of Debt | 0.92% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 16.334 |
Total Debt | 522.39 |
Total Equity | 34.80 |
Total Capital | 557.19 |
Debt Weighting | 93.75 |
Equity Weighting | 6.25 |
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 | 7.31 | 156.40 | 840.63 | 416.43 | 934.73 | 6,898.80 | 50,916.66 | 375,791.09 | 2,773,531.44 | 20,470,087.75 |
---|---|---|---|---|---|---|---|---|---|---|
EBITDA | -7.31 | -22.42 | -36.20 | -16.22 | -9.83 | -1,705.75 | -12,589.30 | -92,915.48 | -685,764.02 | -5,061,291.02 |
EBIT | -7.98 | -23.40 | -37.99 | -18.36 | -15.93 | -1,859.71 | -13,725.64 | -101,302.30 | -747,663.03 | -5,518,137.52 |
Tax Rate | 0.00% | 0.00% | 0.00% | 0.00% | 69.02% | 13.80% | 13.80% | 13.80% | 13.80% | 13.80% |
EBIAT | -7.98 | -23.40 | -37.99 | -18.36 | -4.93 | -1,603 | -11,830.99 | -87,318.77 | -644,457.43 | -4,756,427.11 |
Depreciation | 0.67 | 0.98 | 1.79 | 2.14 | 6.10 | 153.97 | 1,136.35 | 8,386.82 | 61,899.01 | 456,846.51 |
Accounts Receivable | - | -7.89 | -0.02 | -0.93 | -32.21 | -248.59 | -1,851.65 | -13,666.16 | -100,863.25 | -744,422.63 |
Inventories | - | -49.36 | -5.19 | 36.02 | -180.31 | -1,256.75 | -9,305.45 | -68,678.97 | -506,886.12 | -3,741,080.14 |
Accounts Payable | - | 6.43 | 1.20 | 3.98 | 43.10 | 356.08 | 2,628.08 | 19,396.56 | 143,156.58 | 1,056,569.18 |
Capital Expenditure | -1.13 | -2.17 | -3.21 | -2.32 | -9.59 | -259.51 | -1,915.33 | -14,136.14 | -104,332.02 | -770,023.91 |
UFCF | -8.44 | -75.40 | -43.41 | 20.53 | -177.84 | -2,857.80 | -21,139 | -156,016.67 | -1,151,483.22 | -8,498,538.10 |
WACC | ||||||||||
PV UFCF | -2,805.07 | -20,366.04 | -147,538.10 | -1,068,813.35 | -7,742,826.80 | |||||
SUM PV UFCF | -8,982,349.35 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 1.88 |
Free cash flow (t + 1) | -8,668,508.87 |
Terminal Value | 7,223,757,387.54 |
Present Value of Terminal Value | 6,581,402,777.64 |
Intrinsic Value
Enterprise Value | 6,572,420,428.29 |
---|---|
Net Debt | 473.42 |
Equity Value | 6,572,419,954.88 |
Shares Outstanding | 2.18 |
Equity Value Per Share | 3,008,742,261.69 |