Discounted Cash Flow (DCF) Analysis Unlevered
Reviv3 Procare Company (RVIV)
$0.41
+0.05 (+13.73%)
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 | 0.93 | 0.99 | 1.01 | 1.63 | 2.34 | 2.99 | 3.84 | 4.92 | 6.31 | 8.08 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| EBITDA | -0.34 | -0.14 | -0.16 | -0.28 | -0.17 | -0.54 | -0.70 | -0.89 | -1.14 | -1.47 |
| EBITDA (%) | ||||||||||
| EBIT | -0.34 | -0.15 | -0.17 | -0.29 | -0.18 | -0.56 | -0.72 | -0.92 | -1.18 | -1.51 |
| EBIT (%) | ||||||||||
| Depreciation | 0 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.03 | 0.04 | 0.05 |
| 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 | 0.23 | 0.35 | 0.41 | 0.50 | 0.37 | 0.87 | 1.12 | 1.44 | 1.84 | 2.36 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Cash (%) | ||||||||||
| Account Receivables | 0.03 | 0.08 | 0.18 | 0.09 | 0.11 | 0.24 | 0.30 | 0.39 | 0.50 | 0.64 |
| Account Receivables (%) | ||||||||||
| Inventories | 0.32 | 0.26 | 0.29 | 0.45 | 0.32 | 0.78 | 1.01 | 1.29 | 1.65 | 2.12 |
| Inventories (%) | ||||||||||
| Accounts Payable | 0.08 | 0.01 | 0.10 | 0.44 | 0.44 | 0.39 | 0.50 | 0.64 | 0.82 | 1.05 |
| Accounts Payable (%) | ||||||||||
| Capital Expenditure | -0 | -0.01 | -0.01 | -0.02 | -0.02 | -0.03 | -0.04 | -0.05 | -0.06 | -0.08 |
| Capital Expenditure (%) |
Weighted Average Cost Of Capital
| Share price | $ 0.41 |
|---|---|
| Beta | -1.127 |
| Diluted Shares Outstanding | 41.95 |
| Cost of Debt | |
| Tax Rate | 0.00 |
| After-tax Cost of Debt | 3.13% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | -1.813 |
| Total Debt | 0.21 |
| Total Equity | 17.20 |
| Total Capital | 17.41 |
| Debt Weighting | 1.20 |
| Equity Weighting | 98.80 |
| 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 | 0.93 | 0.99 | 1.01 | 1.63 | 2.34 | 2.99 | 3.84 | 4.92 | 6.31 | 8.08 |
|---|---|---|---|---|---|---|---|---|---|---|
| EBITDA | -0.34 | -0.14 | -0.16 | -0.28 | -0.17 | -0.54 | -0.70 | -0.89 | -1.14 | -1.47 |
| EBIT | -0.34 | -0.15 | -0.17 | -0.29 | -0.18 | -0.56 | -0.72 | -0.92 | -1.18 | -1.51 |
| Tax Rate | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| EBIAT | -0.34 | -0.15 | -0.17 | -0.29 | -0.18 | -0.56 | -0.72 | -0.92 | -1.18 | -1.51 |
| Depreciation | 0 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.03 | 0.04 | 0.05 |
| Accounts Receivable | - | -0.05 | -0.10 | 0.09 | -0.02 | -0.13 | -0.07 | -0.09 | -0.11 | -0.14 |
| Inventories | - | 0.06 | -0.02 | -0.16 | 0.13 | -0.46 | -0.22 | -0.28 | -0.36 | -0.47 |
| Accounts Payable | - | -0.07 | 0.08 | 0.34 | -0 | -0.05 | 0.11 | 0.14 | 0.18 | 0.23 |
| Capital Expenditure | -0 | -0.01 | -0.01 | -0.02 | -0.02 | -0.03 | -0.04 | -0.05 | -0.06 | -0.08 |
| UFCF | -0.34 | -0.22 | -0.21 | -0.03 | -0.08 | -1.21 | -0.91 | -1.17 | -1.50 | -1.92 |
| WACC | ||||||||||
| PV UFCF | -1.23 | -0.94 | -1.23 | -1.60 | -2.09 | |||||
| SUM PV UFCF | -7.10 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | -1.75 |
| Free cash flow (t + 1) | -1.95 |
| Terminal Value | 52.13 |
| Present Value of Terminal Value | 56.94 |
Intrinsic Value
| Enterprise Value | 49.84 |
|---|---|
| Net Debt | -0.16 |
| Equity Value | 50.01 |
| Shares Outstanding | 41.95 |
| Equity Value Per Share | 1.19 |