Discounted Cash Flow (DCF) Analysis Unlevered

cbdMD, Inc. (YCBD)

$1.04

-0.02 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: -5.56 | 1.04 | 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 8.4223.6541.8844.4835.4056.9891.70147.59237.54382.30
Revenue (%)
EBITDA 0.3419.43-45.71-12.6938.786.6210.6517.1427.5944.40
EBITDA (%)
EBIT 0.1219.14-46.43-14.9435.814.457.1611.5218.5429.84
EBIT (%)
Depreciation 0.220.290.722.252.972.173.495.629.0514.56
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 6.495.4915.1027.447.7225.0640.3364.90104.46168.12
Total Cash (%)
Account Receivables 4.202.671.361.121.458.1013.0420.9833.7654.34
Account Receivables (%)
Inventories 0.124.304.605.024.266.159.9015.9325.6341.25
Inventories (%)
Accounts Payable 0.483.022.852.982.044.306.9211.1417.9328.86
Accounts Payable (%)
Capital Expenditure -0.38-1.25-1.32-2.34-0.69-2.30-3.70-5.96-9.59-15.44
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 1.04
Beta 2.150
Diluted Shares Outstanding 59.75
Cost of Debt
Tax Rate -5.71
After-tax Cost of Debt 0.33%
Risk-Free Rate
Market Risk Premium
Cost of Equity 14.677
Total Debt 4.87
Total Equity 62.14
Total Capital 67.01
Debt Weighting 7.27
Equity Weighting 92.73
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 8.4223.6541.8844.4835.4056.9891.70147.59237.54382.30
EBITDA 0.3419.43-45.71-12.6938.786.6210.6517.1427.5944.40
EBIT 0.1219.14-46.43-14.9435.814.457.1611.5218.5429.84
Tax Rate 979.86%4.94%-11.47%3.68%-5.71%194.26%194.26%194.26%194.26%194.26%
EBIAT -1.0318.20-51.75-14.3937.85-4.19-6.75-10.86-17.48-28.13
Depreciation 0.220.290.722.252.972.173.495.629.0514.56
Accounts Receivable -1.541.310.23-0.32-6.65-4.94-7.94-12.79-20.58
Inventories --4.18-0.30-0.420.77-1.89-3.75-6.03-9.71-15.62
Accounts Payable -2.54-0.170.13-0.942.272.624.226.7910.93
Capital Expenditure -0.38-1.25-1.32-2.34-0.69-2.30-3.70-5.96-9.59-15.44
UFCF -1.1917.14-51.52-14.5339.63-10.60-13.02-20.95-33.72-54.27
WACC
PV UFCF -9.33-10.08-14.28-20.23-28.65
SUM PV UFCF -82.57

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 13.63
Free cash flow (t + 1) -55.36
Terminal Value -476.01
Present Value of Terminal Value -251.28

Intrinsic Value

Enterprise Value -333.85
Net Debt -1.85
Equity Value -332
Shares Outstanding 59.75
Equity Value Per Share -5.56