Discounted Cash Flow (DCF) Analysis Unlevered

Seanergy Maritime Holdings Corp. (SHIPW)

$0.0297

+0.00 (+10.00%)
All numbers are in Millions, Currency in USD
Stock DCF: -1,443.27 | 0.0297 | overvalue

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 74.8391.5286.5063.34153.11203.54270.58359.70478.17635.66
Revenue (%)
EBITDA 21.969.1914.178.9972.2247.6863.3984.27112.02148.92
EBITDA (%)
EBIT 11.44-1.693.16-3.7355.0719.2125.5333.9445.1259.98
EBIT (%)
Depreciation 10.5210.8811.0212.7217.1528.4837.8650.3366.9088.94
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 8.896.6813.6522.614340.2053.4471.0494.43125.54
Total Cash (%)
Account Receivables 3.632.651.760.804.235.627.479.9313.2017.55
Account Receivables (%)
Inventories 4.805.293.864.651.4510.1513.5017.9423.8531.71
Inventories (%)
Accounts Payable -14.4316.113.715.7622.3929.7639.5652.5969.92
Accounts Payable (%)
Capital Expenditure -32.99-31.48-12.35-20.26-197.32-103.24-137.25-182.46-242.55-322.44
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 0.0,297
Beta 0.494
Diluted Shares Outstanding 2.55
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 6.14%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.216
Total Debt 223.40
Total Equity 0.08
Total Capital 223.47
Debt Weighting 99.97
Equity Weighting 0.03
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 74.8391.5286.5063.34153.11203.54270.58359.70478.17635.66
EBITDA 21.969.1914.178.9972.2247.6863.3984.27112.02148.92
EBIT 11.44-1.693.16-3.7355.0719.2125.5333.9445.1259.98
Tax Rate 0.00%-0.08%-0.46%0.00%0.00%-0.11%-0.11%-0.11%-0.11%-0.11%
EBIAT 11.44-1.693.17-3.7355.0719.2325.5633.9845.1760.05
Depreciation 10.5210.8811.0212.7217.1528.4837.8650.3366.9088.94
Accounts Receivable -0.980.890.96-3.43-1.39-1.85-2.46-3.27-4.35
Inventories --0.491.43-0.793.20-8.70-3.34-4.45-5.91-7.86
Accounts Payable --1.68-12.402.0616.637.379.8013.0317.32
Capital Expenditure -32.99-31.48-12.35-20.26-197.32-103.24-137.25-182.46-242.55-322.44
UFCF -11.03-21.815.83-23.49-123.27-49.01-71.65-95.25-126.63-168.33
WACC
PV UFCF -46.18-63.60-79.66-99.77-124.96
SUM PV UFCF -414.17

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.14
Free cash flow (t + 1) -171.70
Terminal Value -4,147.38
Present Value of Terminal Value -3,078.78

Intrinsic Value

Enterprise Value -3,492.96
Net Debt 181.90
Equity Value -3,674.86
Shares Outstanding 2.55
Equity Value Per Share -1,443.27