Discounted Cash Flow (DCF) Analysis Unlevered

AgEagle Aerial Systems, Inc. (UAVS)

$0.4646

-0.03 (-5.16%)
All numbers are in Millions, Currency in USD
Stock DCF: -1,534.28 | 0.4646 | 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 1.330.110.301.299.7636.02132.89490.351,809.326,676.09
Revenue (%)
EBITDA 9.53-1.98-2.52-4.76-28.60-189.78-700.24-2,583.76-9,533.63-35,177.43
EBITDA (%)
EBIT 9.53-2.05-2.70-5.54-34.52-211.61-780.81-2,881.04-10,630.53-39,224.83
EBIT (%)
Depreciation -0.070.180.785.9221.8380.57297.281,096.914,047.40
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 0.682.600.720.020.01195.08719.812,655.989,800.1036,160.66
Total Cash (%)
Account Receivables 0.1400.070.141.083.9714.6654.10199.61736.52
Account Receivables (%)
Inventories -0.150.220019.2070.85261.42964.593,559.18
Inventories (%)
Accounts Payable 0.220.200.060015.8058.28215.06793.522,927.95
Accounts Payable (%)
Capital Expenditure -0-0-0-0-0.03-0.13-0.46-1.71-6.31-23.27
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 0.4,646
Beta 4.132
Diluted Shares Outstanding 40.69
Cost of Debt
Tax Rate 100.29
After-tax Cost of Debt -0.01%
Risk-Free Rate
Market Risk Premium
Cost of Equity 23.307
Total Debt -
Total Equity 18.90
Total Capital 18.90
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 1.330.110.301.299.7636.02132.89490.351,809.326,676.09
EBITDA 9.53-1.98-2.52-4.76-28.60-189.78-700.24-2,583.76-9,533.63-35,177.43
EBIT 9.53-2.05-2.70-5.54-34.52-211.61-780.81-2,881.04-10,630.53-39,224.83
Tax Rate 0.00%0.00%0.00%0.00%100.29%20.06%20.06%20.06%20.06%20.06%
EBIAT 9.53-2.05-2.70-5.540.10-169.17-624.19-2,303.16-8,498.28-31,357.16
Depreciation -0.070.180.785.9221.8380.57297.281,096.914,047.40
Accounts Receivable -0.14-0.07-0.08-0.94-2.90-10.69-39.44-145.51-536.91
Inventories ---0.070.22-0-19.20-51.65-190.57-703.17-2,594.59
Accounts Payable --0.02-0.14-0.06015.7942.49156.77578.462,134.43
Capital Expenditure -0-0-0.02-0.18-0.53-0.13-0.46-1.71-6.31-23.27
UFCF 9.52-1.86-2.80-4.675.05-153.76-563.94-2,080.83-7,677.89-28,330.09
WACC
PV UFCF -124.69-370.88-1,109.79-3,320.85-9,937.03
SUM PV UFCF -14,863.24

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 23.31
Free cash flow (t + 1) -28,896.70
Terminal Value -135,601.58
Present Value of Terminal Value -47,563.44

Intrinsic Value

Enterprise Value -62,426.68
Net Debt -0.01
Equity Value -62,426.66
Shares Outstanding 40.69
Equity Value Per Share -1,534.28