Discounted Cash Flow (DCF) Analysis Unlevered

Electrameccanica Vehicles Corp. (SOLO)

$1.22

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: -1,630.24 | 1.22 | 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 0.090.570.590.572.106.4419.7660.59185.79569.76
Revenue (%)
EBITDA -8.88-7.17-22.80-61.48-37.07-359.56-1,102.65-3,381.43-10,369.65-31,800.01
EBITDA (%)
EBIT -8.98-7.37-23.61-63.08-41.33-369.50-1,133.13-3,474.92-10,656.33-32,679.16
EBIT (%)
Depreciation 0.100.200.821.604.259.9430.4893.48286.68879.16
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 6.8513.908.49129.45221.93580.921,781.485,463.1716,753.5851,377.24
Total Cash (%)
Account Receivables 0.190.870.340.210.376.2919.3059.18181.49556.57
Account Receivables (%)
Inventories 0.190.310.570.613.588.2725.3677.76238.46731.26
Inventories (%)
Accounts Payable 0.360.470.5311.2510.6432.64100.08306.91941.18
Accounts Payable (%)
Capital Expenditure -1.01-3.07-2.79-1.40-4.64-33.93-104.04-319.06-978.45-3,000.55
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 1.22
Beta 2.271
Diluted Shares Outstanding 107.49
Cost of Debt
Tax Rate -0.00
After-tax Cost of Debt 5.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 14.522
Total Debt 1.89
Total Equity 131.13
Total Capital 133.02
Debt Weighting 1.42
Equity Weighting 98.58
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 0.090.570.590.572.106.4419.7660.59185.79569.76
EBITDA -8.88-7.17-22.80-61.48-37.07-359.56-1,102.65-3,381.43-10,369.65-31,800.01
EBIT -8.98-7.37-23.61-63.08-41.33-369.50-1,133.13-3,474.92-10,656.33-32,679.16
Tax Rate 0.00%0.02%0.34%0.05%-0.00%0.08%0.08%0.08%0.08%0.08%
EBIAT -8.98-7.37-23.53-63.05-41.33-369.20-1,132.21-3,472.10-10,647.68-32,652.64
Depreciation 0.100.200.821.604.259.9430.4893.48286.68879.16
Accounts Receivable --0.680.540.12-0.16-5.92-13.01-39.88-122.31-375.08
Inventories --0.12-0.27-0.03-2.97-4.69-17.09-52.40-160.70-492.81
Accounts Payable -0.100.060.470.259.3921.9967.45206.83634.27
Capital Expenditure -1.01-3.07-2.79-1.40-4.64-33.93-104.04-319.06-978.45-3,000.55
UFCF -9.89-10.94-25.17-62.28-44.60-394.41-1,213.87-3,722.52-11,415.62-35,007.64
WACC
PV UFCF -344.79-927.68-2,486.98-6,667.26-17,874.03
SUM PV UFCF -28,300.74

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 14.39
Free cash flow (t + 1) -35,707.79
Terminal Value -288,198.47
Present Value of Terminal Value -147,146.99

Intrinsic Value

Enterprise Value -175,447.73
Net Debt -220.04
Equity Value -175,227.69
Shares Outstanding 107.49
Equity Value Per Share -1,630.24