Discounted Cash Flow (DCF) Analysis Levered

Ayro, Inc. (AYRO)

$ 4.395
0.01 (+0.23%)

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 0.891.602.895.219.3916.9130.48
Revenue (%)
Operating Cash Flow -4.10-10.02-15.69-28.28-50.95-91.82-165.46
Operating Cash Flow (%)
Capital Expenditure -0.51-0.52-1.29-2.32-4.18-7.54-13.58
Capital Expenditure (%)
Free Cash Flow -4.61-10.54-16.98-30.60-55.14-99.36-179.04

Weighted Average Cost Of Capital

Share price $ 4.395
Beta 2.612
Diluted Shares Outstanding 15.34
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 5.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 23.254
Total Debt 1.15
Total Equity 67.40
Total Capital 68.55
Debt Weighting 1.67
Equity Weighting 98.33
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 0.891.602.895.219.3916.9130.48
Operating Cash Flow -4.10-10.02-15.69-28.28-50.95-91.82-165.46
Capital Expenditure -0.51-0.52-1.29-2.32-4.18-7.54-13.58
Free Cash Flow -4.61-10.54-16.98-30.60-55.14-99.36-179.04
WACC
PV LFCF -25.67-37.62-55.14-80.81-118.44
SUM PV LFCF -170.92

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 22.95
Free cash flow (t + 1) -186.20
Terminal Value -982.61
Present Value of Terminal Value -349.73

Intrinsic Value

Enterprise Value -520.65
Net Debt -35.39
Equity Value -485.26
Shares Outstanding 15.34
Equity Value Per Share -31.64