Discounted Cash Flow (DCF) Analysis Unlevered

Sanara MedTech Inc. (SMTI)

$ 22.8
-1.49 (-6.13%)
All numbers are in Millions, Currency in USD
Stock DCF: -18.00 | 22.8 | overvalue

Operating Data

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 5.516.305.8411.7715.5921.0828.5238.5852.1970.60
Revenue (%)
EBITDA -0.180.54-0.43-2.59-4.05-2.11-2.86-3.87-5.23-7.07
EBITDA (%)
EBIT -0.240.46-0.51-2.71-4.34-2.40-3.24-4.38-5.93-8.02
EBIT (%)
Depreciation 0.060.080.080.120.290.280.380.520.700.95
Depreciation (%)

Balance Sheet Data

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Total Cash 0.830.460.736.611.564.275.777.8110.5614.29
Total Cash (%)
Account Receivables 0.790.840.211.342.272.413.274.425.988.09
Account Receivables (%)
Inventories 0.350.710.511.041.371.862.513.404.606.22
Inventories (%)
Accounts Payable 0.240.290.120.410.490.7411.351.832.47
Accounts Payable (%)
Capital Expenditure -0-0.09-0.01-1.71-1.64-1.12-1.52-2.05-2.78-3.76
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 22.8
Beta 2.236
Diluted Shares Outstanding 5.73
Cost of Debt
Tax Rate 2.00
After-tax Cost of Debt 2.34%
Risk-Free Rate
Market Risk Premium
Cost of Equity 12.420
Total Debt 0.48
Total Equity 130.75
Total Capital 131.23
Debt Weighting 0.37
Equity Weighting 99.63
Wacc

Build Up Free Cash

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 5.516.305.8411.7715.5921.0828.5238.5852.1970.60
EBITDA -0.180.54-0.43-2.59-4.05-2.11-2.86-3.87-5.23-7.07
EBIT -0.240.46-0.51-2.71-4.34-2.40-3.24-4.38-5.93-8.02
Tax Rate 0.00%0.00%0.00%0.76%2.00%0.55%0.55%0.55%0.55%0.55%
EBIAT -0.240.46-0.51-2.69-4.26-2.38-3.22-4.36-5.90-7.98
Depreciation 0.060.080.080.120.290.280.380.520.700.95
Accounts Receivable --0.040.62-1.12-0.93-0.15-0.85-1.15-1.56-2.11
Inventories --0.360.20-0.52-0.34-0.48-0.65-0.89-1.20-1.62
Accounts Payable -0.05-0.170.290.090.240.260.350.480.64
Capital Expenditure -0-0.09-0.01-1.71-1.64-1.12-1.52-2.05-2.78-3.76
UFCF -0.180.090.21-5.63-6.79-3.61-5.60-7.58-10.25-13.87
WACC
PV UFCF -3.21-4.44-5.34-6.43-7.74
SUM PV UFCF -27.16

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 12.38
Free cash flow (t + 1) -14.15
Terminal Value -136.31
Present Value of Terminal Value -76.05

Intrinsic Value

Enterprise Value -103.20
Net Debt 0.03
Equity Value -103.23
Shares Outstanding 5.73
Equity Value Per Share -18.00