Discounted Cash Flow (DCF) Analysis Unlevered

Vericity, Inc. (VERY)

$7.14

+0.01 (+0.14%)
All numbers are in Millions, Currency in USD
Stock DCF: - | 7.14 | 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 115.87123.98135.30147.83176.58196.37218.38242.86270.09300.36
Revenue (%)
EBITDA -10.12-14.75-18.76-27.30-17.03-24.59-27.35-30.41-33.82-37.61
EBITDA (%)
EBIT -10.94-16.20-20.20-28.75-18.76-26.51-29.49-32.79-36.47-40.55
EBIT (%)
Depreciation 0.821.451.441.451.731.922.142.382.642.94
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 349.54327.67382.522.610.43334.11371.56413.21459.52511.03
Total Cash (%)
Account Receivables 145.95138.46144.14169.60202.58225.29250.54278.63309.86344.59
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 7.476.1715.3811.2313.4114.9216.5918.4520.5222.82
Accounts Payable (%)
Capital Expenditure ----------
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 7.14
Beta 0.624
Diluted Shares Outstanding 14.88
Cost of Debt
Tax Rate 2.22
After-tax Cost of Debt -%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.741
Total Debt 0.03
Total Equity 106.21
Total Capital 106.23
Debt Weighting 0.02
Equity Weighting 99.98
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 115.87123.98135.30147.83176.58196.37218.38242.86270.09300.36
EBITDA -10.12-14.75-18.76-27.30-17.03-24.59-27.35-30.41-33.82-37.61
EBIT -10.94-16.20-20.20-28.75-18.76-26.51-29.49-32.79-36.47-40.55
Tax Rate 24.68%14.51%4.32%8.33%2.22%10.81%10.81%10.81%10.81%10.81%
EBIAT -8.24-13.85-19.32-26.35-18.35-23.65-26.30-29.24-32.52-36.17
Depreciation 0.821.451.441.451.731.922.142.382.642.94
Accounts Receivable -7.48-5.68-25.46-32.98-22.71-25.25-28.08-31.23-34.73
Inventories ----------
Accounts Payable --1.309.22-4.152.181.501.671.862.072.30
Capital Expenditure ----------
UFCF ------42.93-47.74-53.09-59.05-65.66
WACC
PV UFCF -----
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -
Free cash flow (t + 1) -66.98
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt 0
Equity Value -
Shares Outstanding 14.88
Equity Value Per Share -