Discounted Cash Flow (DCF) Analysis Levered
Taoping Inc (TAOP)
$3.07
0.06 (+1.99%)
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 | 76.10 | 38.63 | 10.28 | 10.19 | 18.19 | 20.58 | 13.79 | 12.30 | 10.97 | 9.78 | 8.72 | 7.78 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||||
| Operating Cash Flow | -11.38 | -12.63 | -25.91 | -2.82 | 4.54 | 2.47 | -1.68 | -5.32 | -4.74 | -4.23 | -3.77 | -3.36 |
| Operating Cash Flow (%) | ||||||||||||
| Capital Expenditure | -2.04 | -0.53 | -3.00 | -3.46 | -3.78 | -1.80 | -1.62 | -1.91 | -1.70 | -1.52 | -1.35 | -1.21 |
| Capital Expenditure (%) | ||||||||||||
| Free Cash Flow | -13.42 | -13.16 | -28.92 | -6.28 | 0.76 | 0.68 | -3.30 | -7.22 | -6.44 | -5.74 | -5.12 | -4.57 |
Weighted Average Cost Of Capital
| Share price | $ 3.07 |
|---|---|
| Beta | 0.862 |
| Diluted Shares Outstanding | 6.96 |
| Cost of Debt | |
| Tax Rate | 7.40 |
| After-tax Cost of Debt | 4.63% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 9.325 |
| Total Debt | 7.50 |
| Total Equity | 21.38 |
| Total Capital | 28.88 |
| Debt Weighting | 25.97 |
| Equity Weighting | 74.03 |
| 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 | 76.10 | 38.63 | 10.28 | 10.19 | 18.19 | 20.58 | 13.79 | 12.30 | 10.97 | 9.78 | 8.72 | 7.78 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -11.38 | -12.63 | -25.91 | -2.82 | 4.54 | 2.47 | -1.68 | -5.32 | -4.74 | -4.23 | -3.77 | -3.36 |
| Capital Expenditure | -2.04 | -0.53 | -3.00 | -3.46 | -3.78 | -1.80 | -1.62 | -1.91 | -1.70 | -1.52 | -1.35 | -1.21 |
| Free Cash Flow | -13.42 | -13.16 | -28.92 | -6.28 | 0.76 | 0.68 | -3.30 | -7.22 | -6.44 | -5.74 | -5.12 | -4.57 |
| WACC | ||||||||||||
| PV LFCF | -6.68 | -5.51 | -4.55 | -3.75 | -3.09 | |||||||
| SUM PV LFCF | -23.58 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.11 |
| Free cash flow (t + 1) | -4.75 |
| Terminal Value | -115.60 |
| Present Value of Terminal Value | -78.27 |
Intrinsic Value
| Enterprise Value | -101.85 |
|---|---|
| Net Debt | 5.98 |
| Equity Value | -107.84 |
| Shares Outstanding | 6.96 |
| Equity Value Per Share | -15.48 |