Discounted Cash Flow (DCF) Analysis Unlevered

Ur-Energy Inc. (URG)

$1.05

-0.02 (-1.87%)
All numbers are in Millions, Currency in USD
Stock DCF: -0.01 | 1.05 | 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 23.5032.268.320.020.020.010.010.0100
Revenue (%)
EBITDA 9.14-3.34-9.81-18.37-15.43-5.25-3.70-2.61-1.84-1.30
EBITDA (%)
EBIT 5.54-7.75-14.08-22.21-16.68-6.07-4.28-3.02-2.13-1.50
EBIT (%)
Depreciation 3.604.414.263.831.250.820.580.410.290.20
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 6.377.754.2746.193312.398.746.164.343.06
Total Cash (%)
Account Receivables 0.030.020.010000000
Account Receivables (%)
Inventories 1.842.530.650000000
Inventories (%)
Accounts Payable 0.620.520.400.850.250.180.130.090.060.04
Accounts Payable (%)
Capital Expenditure -0.09-0.28-0.04-1.19-0.35-0.25-0.18-0.12-0.09-0.06
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 1.05
Beta 1.464
Diluted Shares Outstanding 195.69
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 4.19%
Risk-Free Rate
Market Risk Premium
Cost of Equity 10.613
Total Debt 11.06
Total Equity 205.48
Total Capital 216.54
Debt Weighting 5.11
Equity Weighting 94.89
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 23.5032.268.320.020.020.010.010.0100
EBITDA 9.14-3.34-9.81-18.37-15.43-5.25-3.70-2.61-1.84-1.30
EBIT 5.54-7.75-14.08-22.21-16.68-6.07-4.28-3.02-2.13-1.50
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT 5.54-7.75-14.08-22.21-16.68-6.07-4.28-3.02-2.13-1.50
Depreciation 3.604.414.263.831.250.820.580.410.290.20
Accounts Receivable -0.010.010.01-000000
Inventories --0.691.870.65-000000
Accounts Payable --0.10-0.130.46-0.60-0.07-0.05-0.04-0.03-0.02
Capital Expenditure -0.09-0.28-0.04-1.19-0.35-0.25-0.18-0.12-0.09-0.06
UFCF 9.05-4.39-8.09-18.44-16.38-5.58-3.93-2.77-1.95-1.38
WACC
PV UFCF -5.06-3.23-2.07-1.32-0.84
SUM PV UFCF -12.52

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 10.28
Free cash flow (t + 1) -1.41
Terminal Value -16.97
Present Value of Terminal Value -10.41

Intrinsic Value

Enterprise Value -22.93
Net Debt -21.94
Equity Value -0.99
Shares Outstanding 195.69
Equity Value Per Share -0.01