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$-223.0M
Enterprise Value
$-74.6M
PV of Cash Flows
$-148.4M
PV of Terminal Value
$-239.0M
Terminal Value
10.0%
WACC
2.5%
Terminal Growth
Cash Flow Projections
PROJ| Year | Revenue | EBITDA | Margin | FCF | PV(FCF) |
|---|---|---|---|---|---|
| Year 1 | $259.7M | $-11.7M | -4.0% | $-22.7M | $-20.6M |
| Year 2 | $267.5M | $-9.4M | -3.0% | $-20.7M | $-17.1M |
| Year 3 | $275.5M | $-6.9M | -2.0% | $-18.6M | $-13.9M |
| Year 4 | $283.8M | $-5.7M | -2.0% | $-17.7M | $-12.1M |
| Year 5 | $292.3M | $-5.1M | -2.0% | $-17.5M | $-10.9M |
Interpretation
INTAt a WACC of 10.0% and terminal growth of 2.5%, enterprise value is $-223.0M. Terminal value accounts for 0% of total EV — consider sensitivity to terminal assumptions.
Next steps: Check the LBO model to see equity returns at this entry price, or the EBITDA bridge to model value creation levers.
Assumptions
ASSMrevenue base$252.2M
revenue growth rates[0.03, 0.03, 0.03, 0.03, 0.03]
ebitda margin base-0.04999999821540653
ebitda margin improvement bps[50, 100, 100, 50, 25]
capex pct revenue0.04
nwc pct revenue0.08
tax rate0.25
projection years5