Discounted Cash Flow (DCF) Analysis Unlevered

Universal Security Instruments, Inc... (UUU)

$3.0183

-0.06 (-1.84%)
All numbers are in Millions, Currency in USD
Stock DCF: -14.48 | 3.0183 | 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 14.8717.5914.8017.5219.5521.1322.8424.6926.6928.84
Revenue (%)
EBITDA -2.02-0.84-5.240.520.08-2.13-2.30-2.49-2.69-2.91
EBITDA (%)
EBIT -2.05-0.86-5.400.360.07-2.23-2.41-2.61-2.82-3.05
EBIT (%)
Depreciation 0.030.020.160.170.010.100.110.120.130.14
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 0.130.370.090.160.440.290.310.340.360.39
Total Cash (%)
Account Receivables 2.883.022.452.583.313.583.874.194.524.89
Account Receivables (%)
Inventories 5.496.855.124.186.237.037.598.218.879.59
Inventories (%)
Accounts Payable 4.335.580.771.261.573.443.724.024.344.69
Accounts Payable (%)
Capital Expenditure -0.02-0.02-0.02-0.02-0.02-0.02-0.02-0.03-0.03-0.03
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 3.0,183
Beta 1.382
Diluted Shares Outstanding 2.31
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 31.64%
Risk-Free Rate
Market Risk Premium
Cost of Equity 10.027
Total Debt 0.47
Total Equity 6.98
Total Capital 7.45
Debt Weighting 6.27
Equity Weighting 93.73
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 14.8717.5914.8017.5219.5521.1322.8424.6926.6928.84
EBITDA -2.02-0.84-5.240.520.08-2.13-2.30-2.49-2.69-2.91
EBIT -2.05-0.86-5.400.360.07-2.23-2.41-2.61-2.82-3.05
Tax Rate 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EBIAT -2.05-0.86-5.400.360.07-2.23-2.41-2.61-2.82-3.05
Depreciation 0.030.020.160.170.010.100.110.120.130.14
Accounts Receivable --0.130.57-0.14-0.73-0.27-0.29-0.31-0.34-0.37
Inventories --1.361.730.94-2.05-0.80-0.57-0.61-0.66-0.72
Accounts Payable -1.25-4.810.490.311.860.280.300.320.35
Capital Expenditure -0.02-0.02-0.02-0.02-0.02-0.02-0.02-0.03-0.03-0.03
UFCF -2.03-1.11-7.771.80-2.41-1.35-2.91-3.14-3.40-3.67
WACC
PV UFCF -1.21-2.34-2.27-2.21-2.14
SUM PV UFCF -10.18

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 11.38
Free cash flow (t + 1) -3.74
Terminal Value -39.91
Present Value of Terminal Value -23.29

Intrinsic Value

Enterprise Value -33.46
Net Debt 0.03
Equity Value -33.49
Shares Outstanding 2.31
Equity Value Per Share -14.48