Discounted Cash Flow (DCF) Analysis Unlevered

Yield10 Bioscience, Inc. (YTEN)

$0.29

-0.03 (-9.40%)
All numbers are in Millions, Currency in USD
Stock DCF: -83.75 | 0.29 | 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 0.560.810.800.610.450.440.440.430.420.42
Revenue (%)
EBITDA -9.12-4.92-8.80-12.17-13.19-7.33-7.23-7.12-7.02-6.92
EBITDA (%)
EBIT -9.32-5.12-8.99-12.39-13.45-7.49-7.38-7.27-7.17-7.07
EBIT (%)
Depreciation 0.200.200.180.220.260.160.160.150.150.15
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 5.7711.129.7015.994.356.396.306.206.126.03
Total Cash (%)
Account Receivables 0.160.090.110.200.030.080.080.080.080.08
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 0.120.280.060.080.110.090.090.090.090.08
Accounts Payable (%)
Capital Expenditure -0.04-0.06-0.08-0.19-0.15-0.08-0.08-0.08-0.08-0.08
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 0.29
Beta 1.817
Diluted Shares Outstanding 4.91
Cost of Debt
Tax Rate -1.16
After-tax Cost of Debt -1.55%
Risk-Free Rate
Market Risk Premium
Cost of Equity 13.119
Total Debt 2.65
Total Equity 1.43
Total Capital 4.08
Debt Weighting 65.03
Equity Weighting 34.97
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 0.560.810.800.610.450.440.440.430.420.42
EBITDA -9.12-4.92-8.80-12.17-13.19-7.33-7.23-7.12-7.02-6.92
EBIT -9.32-5.12-8.99-12.39-13.45-7.49-7.38-7.27-7.17-7.07
Tax Rate 0.00%1.92%-0.55%-0.33%-1.16%-0.02%-0.02%-0.02%-0.02%-0.02%
EBIAT -9.32-5.02-9.03-12.43-13.61-7.49-7.38-7.28-7.17-7.07
Depreciation 0.200.200.180.220.260.160.160.150.150.15
Accounts Receivable -0.07-0.02-0.090.17-0.050000
Inventories ----------
Accounts Payable -0.16-0.220.020.03-0.02-0-0-0-0
Capital Expenditure -0.04-0.06-0.08-0.19-0.15-0.08-0.08-0.08-0.08-0.08
UFCF -9.17-4.65-9.17-12.46-13.30-7.49-7.31-7.20-7.10-6.99
WACC
PV UFCF -7.23-6.81-6.48-6.17-5.87
SUM PV UFCF -32.55

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 3.58
Free cash flow (t + 1) -7.13
Terminal Value -451.56
Present Value of Terminal Value -378.73

Intrinsic Value

Enterprise Value -411.28
Net Debt 0.29
Equity Value -411.57
Shares Outstanding 4.91
Equity Value Per Share -83.75