Discounted Cash Flow (DCF) Analysis Unlevered

Viracta Therapeutics, Inc. (VIRX)

$0.695

-0.01 (-2.11%)
All numbers are in Millions, Currency in USD
Stock DCF: -141,311.10 | 0.695 | overvalue

Operating Data

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 0.242.070.120.532.3310.2445.07198.43873.573,845.75
Revenue (%)
EBITDA -25.45-22.89-18.7762.68-50.59-364.38-1,604.13-7,061.94-31,089.23-136,866.03
EBITDA (%)
EBIT -25.46-22.82-18.8062.50-50.80-365.81-1,610.42-7,089.65-31,211.20-137,402.98
EBIT (%)
Depreciation 0.01-0.070.030.180.211.436.2927.71121.97536.95
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 13.7029.1347.09103.5591.041,432.206,305.0427,757.07122,196.65537,953.80
Total Cash (%)
Account Receivables ----------
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 1.390.791.562.902.5452.87232.741,024.614,510.6919,857.70
Accounts Payable (%)
Capital Expenditure ---0.05-4.25-0.04-29.10-128.11-563.97-2,482.79-10,930.12
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 0.695
Beta 0.070
Diluted Shares Outstanding 37.79
Cost of Debt
Tax Rate -1.17
After-tax Cost of Debt 4.30%
Risk-Free Rate
Market Risk Premium
Cost of Equity 4.633
Total Debt 25.16
Total Equity 26.26
Total Capital 51.42
Debt Weighting 48.92
Equity Weighting 51.08
Wacc

Build Up Free Cash

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 0.242.070.120.532.3310.2445.07198.43873.573,845.75
EBITDA -25.45-22.89-18.7762.68-50.59-364.38-1,604.13-7,061.94-31,089.23-136,866.03
EBIT -25.46-22.82-18.8062.50-50.80-365.81-1,610.42-7,089.65-31,211.20-137,402.98
Tax Rate -4.34%-2.20%-0.96%-76.94%-1.17%-17.12%-17.12%-17.12%-17.12%-17.12%
EBIAT -26.56-23.32-18.98110.59-51.39-428.44-1,886.16-8,303.55-36,555.23-160,929.34
Depreciation 0.01-0.070.030.180.211.436.2927.71121.97536.95
Accounts Receivable ----------
Inventories ----------
Accounts Payable --0.600.771.34-0.3650.33179.87791.873,486.0915,347.01
Capital Expenditure ---0.06-4.25-0.04-29.10-128.11-563.97-2,482.79-10,930.12
UFCF -26.56-23.99-18.24107.86-51.59-405.79-1,828.10-8,047.95-35,429.96-155,975.50
WACC
PV UFCF 112.68-51.59-388.42-1,675.01-7,058.46-29,744.34-125,342.52
SUM PV UFCF -164,208.75

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.47
Free cash flow (t + 1) -159,095.01
Terminal Value -6,441,093.68
Present Value of Terminal Value -5,176,087.89

Intrinsic Value

Enterprise Value -5,340,296.65
Net Debt -11.62
Equity Value -5,340,285.03
Shares Outstanding 37.79
Equity Value Per Share -141,311.10