Discounted Cash Flow (DCF) Analysis Levered
Taoping Inc (TAOP)
$ 7.27
-0.53 (-6.79%)
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 | 29,976.99 | 827.32 | 827.32 | 299.30 | 7.84 | 0.58 | -1.62 | 923.29 | 823.41 | 734.33 | 654.89 | 584.05 |
Capital Expenditure (%) | ||||||||||||
Free Cash Flow | 29,965.61 | 814.69 | 801.40 | 296.48 | 12.39 | 3.05 | -3.30 | 917.97 | 818.67 | 730.10 | 651.12 | 580.68 |
Weighted Average Cost Of Capital
Share price | $ 7.27 |
---|---|
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 | 50.63 |
Total Capital | 58.14 |
Debt Weighting | 12.90 |
Equity Weighting | 87.10 |
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 | 29,976.99 | 827.32 | 827.32 | 299.30 | 7.84 | 0.58 | -1.62 | 923.29 | 823.41 | 734.33 | 654.89 | 584.05 |
Free Cash Flow | 29,965.61 | 814.69 | 801.40 | 296.48 | 12.39 | 3.05 | -3.30 | 917.97 | 818.67 | 730.10 | 651.12 | 580.68 |
WACC | ||||||||||||
PV LFCF | 844.34 | 692.61 | 568.14 | 466.04 | 382.29 | |||||||
SUM PV LFCF | 2,953.42 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 8.72 |
Free cash flow (t + 1) | 603.91 |
Terminal Value | 12,794.75 |
Present Value of Terminal Value | 8,423.35 |
Intrinsic Value
Enterprise Value | 11,376.77 |
---|---|
Net Debt | 5.98 |
Equity Value | 11,370.79 |
Shares Outstanding | 6.96 |
Equity Value Per Share | 1,632.59 |