Complete CAPS Stock Valuation Analysis
Comprehensive intrinsic value analysis using 2 different methodologies
CAPS DCF Analysis
CAPS (Capstone Therapeutics Corp.) discounted cash flow analysis with multiple scenarios, growth assumptions, and terminal value calculations
Financial Projections
| Metrics | 2022 (Historical) | 2023 (Historical) | 2024 (Historical) | 2025 (Projected) | 2026 (Projected) | 2027 (Projected) | 2028 (Projected) | 2029 (Projected) |
|---|---|---|---|---|---|---|---|---|
| Revenue | $61.6M | $48.4M | $44.9M | $42.1M | $39.8M | $37.8M | $36.1M | $34.6M |
| Revenue Growth % | - | -21.5% | -7.2% | -6.2% | -5.6% | -5.0% | -4.5% | -4.1% |
| EBIT | $4.0M | $-1.3M | $-638.0K | $2.1M | $2.0M | $1.9M | $1.8M | $1.7M |
| EBIT Margin % | 6.5% | -2.6% | -1.4% | 5.0% | 5.0% | 5.0% | 5.0% | 5.0% |
| Tax Rate % | 25.3% | 25.0% | 25.0% | 17.1% | 17.9% | 18.6% | 19.4% | 20.2% |
| NOPAT | $3.0M | $-942.0K | $-478.5K | $1.7M | $1.6M | $1.5M | $1.5M | $1.4M |
| NOPAT Margin % | 4.8% | -1.9% | -1.1% | 4.1% | 4.1% | 4.1% | 4.0% | 4.0% |
| Capex | $173.0K | $208.0K | $120.0K | $421.0K | $397.6K | $377.7K | $360.7K | $346.0K |
| Capex / Revenue % | 0.3% | 0.4% | 0.3% | 1.0% | 1.0% | 1.0% | 1.0% | 1.0% |
| Depreciation | $241.0K | $306.0K | $517.0K | $305.4K | $288.4K | $274.0K | $261.7K | $251.0K |
| D&A / Revenue % | 0.4% | 0.6% | 1.2% | 0.7% | 0.7% | 0.7% | 0.7% | 0.7% |
| Change in NWC | $3.0M | $-7.0M | $-1.9M | $246.7K | $186.3K | $141.6K | $108.2K | $83.0K |
| NWC Change / Revenue % | 4.9% | -14.4% | -4.2% | 0.6% | 0.5% | 0.4% | 0.3% | 0.2% |
| Unlevered FCF | $60.8K | $6.1M | $1.8M | $1.4M | $1.3M | $1.3M | $1.2M | $1.2M |
| UFCF % Chg. | - | 9968.4% | -70.8% | -22.6% | -3.3% | -3.5% | -3.5% | -3.5% |
| FCF / Revenue % | 0.1% | 12.7% | 4.0% | 3.3% | 3.4% | 3.4% | 3.5% | 3.5% |
| Discount Factor | - | - | - | 0.962 | 0.926 | 0.891 | 0.858 | 0.826 |
| Present Value of FCF | - | - | - | $1.3M | $1.2M | $1.2M | $1.1M | $992.6K |
| Sum of PV of UFCF | - | - | - | $1.3M | $2.6M | $3.7M | $4.8M | $5.8M |
WACC Calculation
Weighted Average Cost of Capital used for discounting cash flows.
| WACC Calculation | Value |
|---|---|
| Cost of Debt | 6.8% |
| Tax Rate | 17.1% |
| After Tax Cost of Debt | 5.6% |
| Risk Free Rate | 4.29% |
| Market Risk Premium | 4.3% |
| Beta | -0.83 |
| Cost of Equity | 0.7% |
| Total Debt | $16.6M |
| Market Cap | $9.0M |
| Total Capital | $25.6M |
| Debt Weighting | 64.9% |
| Equity Weighting | 35.1% |
| WACC | 3.9% |
Terminal Value
Choose between perpetuity growth or exit multiple methods.
| Terminal Value Calculation | Value |
|---|---|
| Terminal Growth Rate | 2.5% |
| Final Year FCF | $1.2M |
| Terminal Value | $87.8M |
| PV of Terminal Value | $72.5M |
| Cumulative PV of UFCF | $5.8M |
| Net Debt | $16.6M |
| Equity Value | $61.7M |
| Shares Outstanding | 0.2M |
| Implied Share Price | $391 |
| Current Share Price | $2 |
| Implied Upside/(Downside) | +22527.4% |
Valuation Summary
$391.45
Implied Price
$1.73
Current Price
+22527.4%
Upside/Downside
3.9%
WACC
CAPS Peer Valuation Analysis
Relative valuation based on comparable company trading multiples
Peer Valuation Analysis
Fair Value Range Analysis
Based on median multiples from 7 peer companies in Healthcare
P/E Ratio
$-7.36
-525.5%
Peer Median: 9.8x
EV/EBITDA
$0.00
-100.0%
Peer Median: 0.0x
P/S Ratio
$36.17
+1990.8%
Peer Median: 4.3x
Interpretation: Each multiple provides a different perspective on fair value. Consider which multiple is most relevant for CAPS's business model and current situation.
Multiple Comparison
| Multiple | CAPS Current | Peer Median | Peer Average | Premium/Discount | Assessment |
|---|---|---|---|---|---|
| P/E Ratio | -2.3x | 9.8x | 9.8x | -123.5% | Undervalued |
| EV/EBITDA | Infinityx | 0.0x | 0.0x | Infinity% | Overvalued |
| P/S Ratio | 0.2x | 4.3x | 5.6x | -95.2% | Undervalued |
Peer Companies
Click any company to view their valuation
| Company | Market Cap | P/E Ratio | EV/EBITDA | P/S Ratio |
|---|---|---|---|---|
| $0.01B | 0.0x | 0.0x | 0.0x | |
| $0.01B | 0.0x | 0.0x | 59.9x | |
| $0.01B | 9.8x | -1.4x | 309.8x | |
| $0.01B | 0.0x | 0.0x | 0.2x | |
| $0.01B | 0.0x | 0.0x | 12.4x | |
| $0.01B | 0.0x | 0.0x | 4.3x | |
| $0.01B | 0.0x | 0.0x | 0.0x |