Discounted Cash Flow (DCF) Analysis Levered

Celsion Corp (CLSN)

$2.155
0.095 (+4.61%)

Free Cash Flow

Year
A/P
2013
Actual
2014
Actual
2015
Actual
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Projected
2021
Projected
2022
Projected
2023
Projected
2024
Projected
Revenue 0.500.500.500.500.500.500.50-----
Revenue (%)
Operating Cash Flow -9.47-21.35-20.83-18.38-16.64-7.04-20.26-----
Operating Cash Flow (%)
Capital Expenditure -0.06-0.67-0.11-0.06-0.04-0.14-0.35-----
Capital Expenditure (%)
Free Cash Flow -9.53-22.03-20.94-18.44-16.68-7.18-20.61-----

Weighted Average Cost Of Capital

Share price $ 2.155
Beta 2.071
Diluted Shares Outstanding 21.83
Cost of Debt
Tax Rate 9.73
After-tax Cost of Debt 4.51%
Risk-Free Rate
Market Risk Premium
Cost of Equity 18.946
Total Debt 15.95
Total Equity 47.05
Total Capital 63.00
Debt Weighting 25.32
Equity Weighting 74.68
Wacc

Build Up Free Cash Flow

Year
A/P
2013
Actual
2014
Actual
2015
Actual
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Projected
2021
Projected
2022
Projected
2023
Projected
2024
Projected
Revenue 0.500.500.500.500.500.500.50-----
Operating Cash Flow -9.47-21.35-20.83-18.38-16.64-7.04-20.26-----
Capital Expenditure -0.06-0.67-0.11-0.06-0.04-0.14-0.35-----
Free Cash Flow -9.53-22.03-20.94-18.44-16.68-7.18-20.61-----
WACC
PV LFCF -----
SUM PV LFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 15.29
Free cash flow (t + 1) -
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt 9.07
Equity Value -
Shares Outstanding 21.83
Equity Value Per Share -