Discounted Cash Flow (DCF) Analysis Unlevered

STRATA Skin Sciences, Inc. (SSKN)

$0.8775

-0.01 (-1.40%)
All numbers are in Millions, Currency in USD
Stock DCF: -1.78 | 0.8775 | 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 31.4529.8531.5923.0929.9830.2530.5330.8131.0931.37
Revenue (%)
EBITDA -12.371.100.88-0.231.10-1.82-1.84-1.86-1.87-1.89
EBITDA (%)
EBIT -18.70-4.30-3.94-4.14-2.99-6.91-6.97-7.04-7.10-7.17
EBIT (%)
Depreciation 6.345.404.823.914.095.095.135.185.235.27
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 4.0716.498.1310.6012.591111.1011.2011.3011.41
Total Cash (%)
Account Receivables 3.143.394.392.943.433.603.633.663.703.73
Account Receivables (%)
Inventories 3.012.793.033.443.493.333.363.393.423.46
Inventories (%)
Accounts Payable 2.281.761.882.762.822.452.472.492.522.54
Accounts Payable (%)
Capital Expenditure -2.06-1.76-2.79-2.16-3.65-2.59-2.61-2.64-2.66-2.69
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 0.8,775
Beta 1.782
Diluted Shares Outstanding 33.61
Cost of Debt
Tax Rate -1.27
After-tax Cost of Debt -3.91%
Risk-Free Rate
Market Risk Premium
Cost of Equity 12.102
Total Debt 8.03
Total Equity 29.49
Total Capital 37.52
Debt Weighting 21.40
Equity Weighting 78.60
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 31.4529.8531.5923.0929.9830.2530.5330.8131.0931.37
EBITDA -12.371.100.88-0.231.10-1.82-1.84-1.86-1.87-1.89
EBIT -18.70-4.30-3.94-4.14-2.99-6.91-6.97-7.04-7.10-7.17
Tax Rate -0.69%6.14%3.78%-6.65%-1.27%0.26%0.26%0.26%0.26%0.26%
EBIAT -18.83-4.03-3.79-4.41-3.02-6.89-6.95-7.02-7.08-7.15
Depreciation 6.345.404.823.914.095.095.135.185.235.27
Accounts Receivable --0.25-0.991.44-0.49-0.16-0.03-0.03-0.03-0.03
Inventories -0.22-0.23-0.42-0.040.16-0.03-0.03-0.03-0.03
Accounts Payable --0.510.120.880.06-0.370.020.020.020.02
Capital Expenditure -2.06-1.76-2.79-2.16-3.65-2.59-2.61-2.64-2.66-2.69
UFCF -14.55-0.95-2.87-0.75-3.07-4.78-4.48-4.52-4.56-4.60
WACC
PV UFCF -4.39-3.79-3.52-3.27-3.04
SUM PV UFCF -18.01

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.68
Free cash flow (t + 1) -4.69
Terminal Value -70.27
Present Value of Terminal Value -46.35

Intrinsic Value

Enterprise Value -64.36
Net Debt -4.56
Equity Value -59.80
Shares Outstanding 33.61
Equity Value Per Share -1.78