Discounted Cash Flow (DCF) Analysis Unlevered

Super League Gaming, Inc. (SLGG)

$0.6704

-0.02 (-3.51%)
All numbers are in Millions, Currency in USD
Stock DCF: 442.12 | 0.6704 | undervalue

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 0.201.051.082.06-6.55-8.13-10.10-12.55-15.59-19.37
Revenue (%)
EBITDA -13.72-15.05-27.16-17.36-20.54183.64228.13283.40352.05437.35
EBITDA (%)
EBIT -14.96-16.16-28.02-18.72-23.86196.91244.61303.88377.50468.96
EBIT (%)
Depreciation 1.241.110.861.373.32-13.27-16.49-20.48-25.44-31.61
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 1.712.778.447.9414.53-33.45-41.56-51.62-64.13-79.67
Total Cash (%)
Account Receivables 0.110.490.290.596.33-1.01-1.25-1.56-1.93-2.40
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 0.380.810.851.835.51-5.72-7.11-8.83-10.97-13.62
Accounts Payable (%)
Capital Expenditure -0.44-0.87-1.66-0.01-1.097.108.8310.9613.6216.92
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 0.6,704
Beta 1.133
Diluted Shares Outstanding 11.43
Cost of Debt
Tax Rate 13.04
After-tax Cost of Debt 4.35%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.312
Total Debt -
Total Equity 7.66
Total Capital 7.66
Debt Weighting 0.00
Equity Weighting 100.00
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 0.201.051.082.06-6.55-8.13-10.10-12.55-15.59-19.37
EBITDA -13.72-15.05-27.16-17.36-20.54183.64228.13283.40352.05437.35
EBIT -14.96-16.16-28.02-18.72-23.86196.91244.61303.88377.50468.96
Tax Rate 0.00%0.00%0.00%0.00%13.04%2.61%2.61%2.61%2.61%2.61%
EBIAT -14.96-16.16-28.02-18.72-20.75191.77238.23295.95367.65456.73
Depreciation 1.241.110.861.373.32-13.27-16.49-20.48-25.44-31.61
Accounts Receivable --0.370.19-0.29-5.747.340.240.300.380.47
Inventories ----------
Accounts Payable -0.430.040.983.68-11.23-1.39-1.72-2.14-2.66
Capital Expenditure -0.44-0.87-1.66-0.01-1.097.108.8310.9613.6216.92
UFCF -14.15-15.86-28.58-16.68-20.57181.71229.43285.02354.07439.85
WACC
PV UFCF 166.23192.01218.22248281.84
SUM PV UFCF 1,106.30

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 9.31
Free cash flow (t + 1) 448.65
Terminal Value 6,137.43
Present Value of Terminal Value 3,932.67

Intrinsic Value

Enterprise Value 5,038.97
Net Debt -14.53
Equity Value 5,053.50
Shares Outstanding 11.43
Equity Value Per Share 442.12