Discounted Cash Flow (DCF) Analysis Unlevered

Tactile Systems Technology, Inc. (TCMD)

$7.02

-0.28 (-3.84%)
All numbers are in Millions, Currency in USD
Stock DCF: - | 7.02 | undervalue

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 109.28143.75189.49189.49208.06258.79321.90400.40498.04619.49
Revenue (%)
EBITDA 6.047.1114.6713.921.3913.5816.892126.1232.50
EBITDA (%)
EBIT 4.193.4811.1311.13-2.298.7510.8813.5316.8320.93
EBIT (%)
Depreciation 1.853.633.542.793.684.836.017.479.2911.56
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 43.9145.8953.3858.5640.7178.0297.05120.72150.15186.77
Total Cash (%)
Account Receivables 19.7426.1333.4443.8549.4852.1864.9080.73100.41124.90
Account Receivables (%)
Inventories 11.0411.1919.0618.5619.2224.3130.2437.6246.7958.20
Inventories (%)
Accounts Payable 4.255.113.844.205.027.309.0811.2914.0517.47
Accounts Payable (%)
Capital Expenditure -3.82-9.55-5.99-2.06-2.35-8.03-9.99-12.42-15.45-19.22
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 7.02
Beta 1.421
Diluted Shares Outstanding 19.35
Cost of Debt
Tax Rate -415.09
After-tax Cost of Debt -%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.596
Total Debt 80.61
Total Equity 135.82
Total Capital 216.43
Debt Weighting 37.25
Equity Weighting 62.75
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 109.28143.75189.49189.49208.06258.79321.90400.40498.04619.49
EBITDA 6.047.1114.6713.921.3913.5816.892126.1232.50
EBIT 4.193.4811.1311.13-2.298.7510.8813.5316.8320.93
Tax Rate -39.74%-90.54%1.42%1.42%-415.09%-108.50%-108.50%-108.50%-108.50%-108.50%
EBIAT 5.866.6210.9710.97-11.8118.2322.6828.2135.0943.65
Depreciation 1.853.633.542.793.684.836.017.479.2911.56
Accounts Receivable --6.38-7.32-10.41-5.63-2.70-12.72-15.83-19.69-24.49
Inventories --0.15-7.870.50-0.65-5.10-5.93-7.38-9.17-11.41
Accounts Payable -0.86-1.270.350.832.281.782.212.753.43
Capital Expenditure -3.82-9.55-5.99-2.06-2.35-8.03-9.99-12.42-15.45-19.22
UFCF 3.88-4.96-7.942.15-15.949.511.832.272.833.52
WACC
PV UFCF -----
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -
Free cash flow (t + 1) 3.59
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt 52.38
Equity Value -
Shares Outstanding 19.35
Equity Value Per Share -