Discounted Cash Flow (DCF) Analysis Levered
Taoping Inc. (TAOP)
3.61 €
-0.33 (-8.38%)
Free Cash Flow
Year A/P | 2013 Actual | 2014 Actual | 2015 Actual | 2016 Actual | 2017 Actual | 2018 Actual | 2019 Projected | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected |
| Revenue | 76,145.38 | 68,157.73 | 10,285.00 | 24,905.13 | 24,905.13 | 20,579.11 | 22,089.62 | 23,711.00 | 25,451.38 | 27,319.51 | 29,324.77 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | |||||||||||
| Operating Cash Flow | -11,376.12 | -12,629.63 | -115.19 | -2,821.75 | 4,540.21 | 2,473.61 | -576.54 | -618.86 | -664.28 | -713.04 | -765.38 |
| Operating Cash Flow (%) | |||||||||||
| Capital Expenditure | -29,978.44 | -824.71 | -826.91 | -298.86 | -7.47 | - | -1,835.65 | -1,970.38 | -2,115.01 | -2,270.25 | -2,436.89 |
| Capital Expenditure (%) | |||||||||||
| Free Cash Flow | -41,354.56 | -13,454.34 | -942.11 | -3,120.61 | 4,532.73 | 2,473.61 | -2,412.19 | -2,589.24 | -2,779.29 | -2,983.29 | -3,202.26 |
Weighted Average Cost Of Capital
Weighted Average Cost Of Capital
| Share price | $ 3.61 |
|---|---|
| Diluted Shares Outstanding | 46,969.65 |
| Cost of Debt | |
| Tax Rate | -177.29 |
| After-tax Cost of Debt | 13.86% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 2.46 |
| Total Debt | 4,247.39 |
| Total Equity | 169,560.44 |
| Total Capital | 173,807.83 |
| Debt Weighting | 2.44 |
| Equity Weighting | 97.56 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2013 Actual | 2014 Actual | 2015 Actual | 2016 Actual | 2017 Actual | 2018 Actual | 2019 Projected | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected |
| Revenue | 76,145.38 | 68,157.73 | 10,285.00 | 24,905.13 | 24,905.13 | 20,579.11 | 22,089.62 | 23,711.00 | 25,451.38 | 27,319.51 | 29,324.77 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -11,376.12 | -12,629.63 | -115.19 | -2,821.75 | 4,540.21 | 2,473.61 | -576.54 | -618.86 | -664.28 | -713.04 | -765.38 |
| Capital Expenditure | -29,978.44 | -824.71 | -826.91 | -298.86 | -7.47 | - | -1,835.65 | -1,970.38 | -2,115.01 | -2,270.25 | -2,436.89 |
| Free Cash Flow | -41,354.56 | -13,454.34 | -942.11 | -3,120.61 | 4,532.73 | 2,473.61 | -2,412.19 | -2,589.24 | -2,779.29 | -2,983.29 | -3,202.26 |
| WACC | |||||||||||
| PV LFCF | -2,412.19 | -2,520.19 | -2,633.02 | -2,750.91 | -2,874.08 | ||||||
| SUM PV LFCF | -21,852.04 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 2.74 |
| Free cash flow (t + 1) | -29,696.66 |
| Terminal Value | 2,356,878.15 |
| Present Value of Terminal Value | 2,058,919.30 |
Intrinsic Value
| Enterprise Value | 1,893,187.07 |
|---|---|
| Net Debt | 2,594.89 |
| Equity Value | 1,890,592.18 |
| Shares Outstanding | 46,969.65 |
| Equity Value Per Share | 4.40 |