Discounted Cash Flow (DCF) Analysis Unlevered

Cassava Sciences Inc (SAVA)
$12.08
-0.16 (-1.31%)
Operating Data
Year A/P | 2013 Actual | 2014 Projected | 2015 Projected | 2016 Projected | 2017 Projected | 2018 Projected | 2019 Projected | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected |
Revenue | 41.12 | - | - | - | - | - | - | - | - | - | - | - |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||||
EBITDA | 31.37 | - | - | - | - | - | - | - | - | - | - | - |
EBITDA (%) | ||||||||||||
EBIT | - | - | - | - | - | - | - | - | - | - | - | - |
EBIT (%) | ||||||||||||
Depreciation | - | - | - | - | - | - | - | - | - | - | - | - |
Depreciation (%) |
Balance Sheet Data
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 |
Total Cash | 49.84 | - | - | - | - | - | - | - | - | - | - | - |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Total Cash (%) | ||||||||||||
Account Receivables | - | - | - | - | - | - | - | - | - | - | - | - |
Account Receivables (%) | ||||||||||||
Inventories | - | - | - | - | - | - | - | - | - | - | - | - |
Inventories (%) | ||||||||||||
Accounts Payable | 0.45 | - | - | - | - | - | - | - | - | - | - | - |
Accounts Payable (%) | ||||||||||||
Capital Expenditure | - | - | - | - | - | - | - | - | - | - | - | - |
Capital Expenditure (%) |
Weighted Average Cost Of Capital
Share price | $ 12.08 |
---|---|
Beta | 1.728 |
Diluted Shares Outstanding | 17.41 |
Cost of Debt | |
Tax Rate | 0.00 |
After-tax Cost of Debt | 5.00% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 16.217 |
Total Debt | 0.09 |
Total Equity | 210.34 |
Total Capital | 210.43 |
Debt Weighting | 0.04 |
Equity Weighting | 99.96 |
Wacc |
Build Up Free Cash
Year A/P | 2013 Actual | 2014 Projected | 2015 Projected | 2016 Projected | 2017 Projected | 2018 Projected | 2019 Projected | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected |
Revenue | 41.12 | - | - | - | - | - | - | - | - | - | - | - |
---|---|---|---|---|---|---|---|---|---|---|---|---|
EBITDA | 31.37 | - | - | - | - | - | - | - | - | - | - | - |
EBIT | - | - | - | - | - | - | - | - | - | - | - | - |
Tax Rate | -0.23% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -0.03% | -0.03% | -0.03% | -0.03% | -0.03% |
EBIAT | - | - | - | - | - | - | - | - | - | - | - | - |
Depreciation | - | - | - | - | - | - | - | - | - | - | - | - |
Accounts Receivable | - | - | - | - | - | - | - | - | - | - | - | - |
Inventories | - | - | - | - | - | - | - | - | - | - | - | - |
Accounts Payable | - | - | - | - | - | - | - | - | - | - | - | - |
Capital Expenditure | - | -0.08 | -0.20 | -0.07 | - | - | -0.02 | - | - | - | - | - |
UFCF | - | - | - | - | - | - | - | - | - | - | - | - |
WACC | ||||||||||||
PV UFCF | - | - | - | - | - | - | - | - | - | - | - | |
SUM PV UFCF | - |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 16.21 |
Free cash flow (t + 1) | - |
Terminal Value | - |
Present Value of Terminal Value | - |
Intrinsic Value
Enterprise Value | - |
---|---|
Net Debt | -23.08 |
Equity Value | - |
Shares Outstanding | 17.41 |
Equity Value Per Share | - |