Discounted Cash Flow (DCF) Analysis Unlevered

ToughBuilt Industries, Inc. (TBLT)

$6.62

+0.05 (+0.76%)
All numbers are in Millions, Currency in USD
Stock DCF: -20,963.02 | 6.62 | 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 14.2015.2919.0939.4370.03107.96166.43256.58395.56609.82
Revenue (%)
EBITDA -3.66-24.21-3.10-15.57-35.39-62.70-96.66-149.02-229.73-354.16
EBITDA (%)
EBIT -3.78-24.33-3.33-16.20-37.23-64.22-99-152.62-235.29-362.74
EBIT (%)
Depreciation 0.120.120.230.631.841.522.343.615.568.57
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 0.045.460.032.197.4711.3117.4426.8841.4563.90
Total Cash (%)
Account Receivables 1.822.536.7312.1818.1826.2240.4262.3296.07148.11
Account Receivables (%)
Inventories 0.100.382.228.9238.4319.9230.7247.3573112.54
Inventories (%)
Accounts Payable 2.331.962.546.9614.4417.4526.9041.4663.9298.55
Accounts Payable (%)
Capital Expenditure -0.07-0.08-0.09-0.19-0.34-0.53-0.82-1.26-1.95-3
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 6.62
Beta 1.583
Diluted Shares Outstanding 0.18
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 5.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 10.313
Total Debt -
Total Equity 1.20
Total Capital 1.20
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 14.2015.2919.0939.4370.03107.96166.43256.58395.56609.82
EBITDA -3.66-24.21-3.10-15.57-35.39-62.70-96.66-149.02-229.73-354.16
EBIT -3.78-24.33-3.33-16.20-37.23-64.22-99-152.62-235.29-362.74
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT -3.78-24.33-3.33-16.20-37.23-64.22-99-152.62-235.29-362.74
Depreciation 0.120.120.230.631.841.522.343.615.568.57
Accounts Receivable --0.71-4.20-5.45-6-8.04-14.20-21.89-33.75-52.04
Inventories --0.28-1.84-6.70-29.5218.51-10.79-16.64-25.65-39.54
Accounts Payable --0.370.574.427.493.019.4514.5722.4634.62
Capital Expenditure -0.07-0.08-1.03-2.50-11.30-0.53-0.82-1.26-1.95-3
UFCF -3.73-25.65-8.66-23.50-63.76-49.76-113.02-174.24-268.62-414.12
WACC
PV UFCF -45.11-92.88-129.81-181.42-253.54
SUM PV UFCF -702.76

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 10.31
Free cash flow (t + 1) -422.40
Terminal Value -5,083.08
Present Value of Terminal Value -3,112.09

Intrinsic Value

Enterprise Value -3,814.85
Net Debt -7.47
Equity Value -3,807.38
Shares Outstanding 0.18
Equity Value Per Share -20,963.02