Discounted Cash Flow (DCF) Analysis Unlevered

AgEagle Aerial Systems, Inc. (UAVS)

$1.29

-0.02 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: -5,879.36 | 1.29 | overvalue

Operating Data

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 0.110.301.299.7619.0979.41330.221,373.245,710.7623,748.75
Revenue (%)
EBITDA -1.98-2.35-4.76-16.35-19-518.95-2,158.11-8,974.73-37,322.28-155,208.32
EBITDA (%)
EBIT -2.05-2.52-4.93-17.85-22.94-545.63-2,269.06-9,436.10-39,240.94-163,187.27
EBIT (%)
Depreciation 0.070.170.171.503.9426.68110.94461.371,918.667,978.95
Depreciation (%)

Balance Sheet Data

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Total Cash 2.600.7223.9414.594.35744.823,097.4212,880.9253,566.55222,761.68
Total Cash (%)
Account Receivables 00.070.603.072.4017.9574.63310.371,290.695,367.48
Account Receivables (%)
Inventories 0.150.220.144.046.6947.67198.22824.333,428.0514,255.86
Inventories (%)
Accounts Payable 0.200.060.162.531.8539.84165.66688.912,864.8911,913.92
Accounts Payable (%)
Capital Expenditure --0.02-0.18-1.90-1.75-10.09-41.94-174.42-725.35-3,016.43
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 1.29
Beta 3.741
Diluted Shares Outstanding 83.37
Cost of Debt
Tax Rate -60.51
After-tax Cost of Debt 4.16%
Risk-Free Rate
Market Risk Premium
Cost of Equity 21.817
Total Debt 6.83
Total Equity 107.55
Total Capital 114.38
Debt Weighting 5.97
Equity Weighting 94.03
Wacc

Build Up Free Cash

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 0.110.301.299.7619.0979.41330.221,373.245,710.7623,748.75
EBITDA -1.98-2.35-4.76-16.35-19-518.95-2,158.11-8,974.73-37,322.28-155,208.32
EBIT -2.05-2.52-4.93-17.85-22.94-545.63-2,269.06-9,436.10-39,240.94-163,187.27
Tax Rate 0.00%-0.02%-0.01%-0.32%-60.51%-12.17%-12.17%-12.17%-12.17%-12.17%
EBIAT -2.05-2.52-4.93-17.90-36.83-612.04-2,545.24-10,584.64-44,017.26-183,050.05
Depreciation 0.070.170.171.503.9426.68110.94461.371,918.667,978.95
Accounts Receivable --0.07-0.53-2.470.68-15.55-56.69-235.74-980.33-4,076.79
Inventories --0.070.09-3.90-2.65-40.98-150.56-626.11-2,603.72-10,827.82
Accounts Payable --0.140.102.37-0.6837.99125.82523.252,175.989,049.03
Capital Expenditure --0.02-0.18-1.90-1.75-10.09-41.94-174.42-725.35-3,016.43
UFCF -1.98-2.65-5.28-22.31-37.29-613.99-2,557.66-10,636.28-44,232.01-183,943.09
WACC
PV UFCF -508.44-1,753.87-6,039.77-20,799.08-71,625.55
SUM PV UFCF -100,726.71

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 20.76
Free cash flow (t + 1) -187,621.95
Terminal Value -1,000,117.02
Present Value of Terminal Value -389,435.28

Intrinsic Value

Enterprise Value -490,161.99
Net Debt 2.48
Equity Value -490,164.47
Shares Outstanding 83.37
Equity Value Per Share -5,879.36