Discounted Cash Flow (DCF) Analysis Unlevered

Windtree Therapeutics, Inc. (WINT)

$0.3352

+0.01 (+2.79%)
All numbers are in Millions, Currency in USD
Stock DCF: 4.88 | 0.3352 | undervalue

Operating Data

Year
A/P
2018
Actual
2019
Actual
2020
Projected
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 1.790.200.020000000
Revenue (%)
EBITDA -15.62-23.10-32.44-32.49-21.08-0.56-0.06-0.01-0-0
EBITDA (%)
EBIT -15.78-23.29-32.61-32.68-21.61-0.57-0.06-0.01-0-0
EBIT (%)
Depreciation 0.160.190.160.190.530.010000
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 25.1522.5816.9322.356.170.200.02000
Total Cash (%)
Account Receivables ----------
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 3.421.711.160.690.250.010000
Accounts Payable (%)
Capital Expenditure --0.19-0.29-0.28-0.01-0-0-0-0-0
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 0.3,352
Beta 0.623
Diluted Shares Outstanding 0.63
Cost of Debt
Tax Rate 3.37
After-tax Cost of Debt 4.16%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.244
Total Debt 2.28
Total Equity 0.21
Total Capital 2.49
Debt Weighting 91.52
Equity Weighting 8.48
Wacc

Build Up Free Cash

Year
A/P
2018
Actual
2019
Actual
2020
Projected
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 1.790.200.020000000
EBITDA -15.62-23.10-32.44-32.49-21.08-0.56-0.06-0.01-0-0
EBIT -15.78-23.29-32.61-32.68-21.61-0.57-0.06-0.01-0-0
Tax Rate 0.00%-8.69%7.02%12.87%3.37%2.91%2.91%2.91%2.91%2.91%
EBIAT -15.78-25.32-30.32-28.48-20.88-0.55-0.06-0.01-0-0
Depreciation 0.160.190.160.190.530.010000
Accounts Receivable ----------
Inventories ----------
Accounts Payable --1.71-0.55-0.47-0.44-0.24-0.01-0-0-0
Capital Expenditure --0.19-0.29-0.28-0.01-0-0-0-0-0
UFCF -15.62-27.03-30.99-29.03-20.81-0.78-0.07-0.01-0-0
WACC
PV UFCF -33.79-30.31-20.81-0.75-0.06-0.01-0-0
SUM PV UFCF -0.82

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.42
Free cash flow (t + 1) -0
Terminal Value -0
Present Value of Terminal Value -0

Intrinsic Value

Enterprise Value -0.82
Net Debt -3.89
Equity Value 3.07
Shares Outstanding 0.63
Equity Value Per Share 4.88