Discounted Cash Flow (DCF) Analysis Unlevered

SilverSun Technologies, Inc. (SSNT)

$2.37

+0.02 (+0.85%)
All numbers are in Millions, Currency in USD
Stock DCF: -6.26 | 2.37 | 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 34.854138.5041.2241.7043.7645.9348.2050.5853.08
Revenue (%)
EBITDA 1.561.127.271.36-0.272.522.642.772.913.05
EBITDA (%)
EBIT 0.940.416.340.24-1.171.571.651.731.821.90
EBIT (%)
Depreciation 0.620.700.931.120.900.950.991.041.091.15
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 2.241.908.666.606.815.776.056.356.666.99
Total Cash (%)
Account Receivables 2.762.553.861.631.932.873.013.163.313.48
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 2.092.032.211.882.042.292.402.522.642.77
Accounts Payable (%)
Capital Expenditure -0.82-0.76-0.15-0.12-0.51-0.54-0.56-0.59-0.62-0.65
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 2.37
Beta 1.167
Diluted Shares Outstanding 4.50
Cost of Debt
Tax Rate 408.54
After-tax Cost of Debt -6.97%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.470
Total Debt 2.08
Total Equity 10.67
Total Capital 12.74
Debt Weighting 16.28
Equity Weighting 83.72
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 34.854138.5041.2241.7043.7645.9348.2050.5853.08
EBITDA 1.561.127.271.36-0.272.522.642.772.913.05
EBIT 0.940.416.340.24-1.171.571.651.731.821.90
Tax Rate 153.60%29.28%453.34%21.25%408.54%213.20%213.20%213.20%213.20%213.20%
EBIAT -0.500.29-22.400.193.60-1.78-1.87-1.96-2.05-2.16
Depreciation 0.620.700.931.120.900.950.991.041.091.15
Accounts Receivable -0.21-1.312.23-0.29-0.94-0.14-0.15-0.16-0.16
Inventories ----------
Accounts Payable --0.070.18-0.340.160.250.110.120.120.13
Capital Expenditure -0.82-0.76-0.15-0.12-0.51-0.54-0.56-0.59-0.62-0.65
UFCF -0.700.38-22.753.083.86-2.06-1.47-1.54-1.61-1.69
WACC
PV UFCF -1.93-1.28-1.26-1.24-1.22
SUM PV UFCF -6.94

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.79
Free cash flow (t + 1) -1.73
Terminal Value -36.07
Present Value of Terminal Value -25.97

Intrinsic Value

Enterprise Value -32.91
Net Debt -4.74
Equity Value -28.17
Shares Outstanding 4.50
Equity Value Per Share -6.26