Complete IXHL Stock Valuation Analysis
Comprehensive intrinsic value analysis using 2 different methodologies
IXHL DCF Analysis
IXHL (Incannex Healthcare Limited) 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 | $540.2K | $0 | $12.0K | $10.8K | $9.7K | $8.7K | $7.9K | $7.1K |
| Revenue Growth % | - | -100.0% | Infinity% | -10.0% | -10.0% | -10.0% | -10.0% | -10.0% |
| EBIT | $-7.8M | $-49.7M | $-30.0M | $540 | $486 | $437 | $394 | $354 |
| EBIT Margin % | -1450.8% | 0.0% | -250341.7% | 5.0% | 5.0% | 5.0% | 5.0% | 5.0% |
| Tax Rate % | 25.0% | 25.0% | 25.0% | 25.0% | 25.0% | 25.0% | 25.0% | 25.0% |
| NOPAT | $-5.9M | $-37.3M | $-22.5M | $405 | $365 | $328 | $295 | $266 |
| NOPAT Margin % | -1088.1% | -Infinity% | -187756.3% | 3.8% | 3.8% | 3.8% | 3.8% | 3.8% |
| Capex | $4 | $316.0K | $277.0K | $108 | $97 | $87 | $79 | $71 |
| Capex / Revenue % | 0.0% | Infinity% | 2308.3% | 1.0% | 1.0% | 1.0% | 1.0% | 1.0% |
| Depreciation | $0 | $88.0K | $103.0K | $InfinityB | $InfinityB | $InfinityB | $InfinityB | $InfinityB |
| D&A / Revenue % | 0.0% | Infinity% | 858.3% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% |
| Change in NWC | $18.3M | $-4.3M | $-9.9M | $0 | $0 | $0 | $0 | $0 |
| NWC Change / Revenue % | 3394.6% | -Infinity% | -82208.3% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Unlevered FCF | $-24.2M | $-33.2M | $-12.8M | $InfinityB | $InfinityB | $InfinityB | $InfinityB | $InfinityB |
| UFCF % Chg. | - | -36.9% | 61.3% | Infinity% | NaN% | NaN% | NaN% | NaN% |
| FCF / Revenue % | -4482.7% | -Infinity% | -106997.9% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% |
| Discount Factor | - | - | - | 0.871 | 0.759 | 0.662 | 0.576 | 0.502 |
| Present Value of FCF | - | - | - | $InfinityB | $InfinityB | $InfinityB | $InfinityB | $InfinityB |
| Sum of PV of UFCF | - | - | - | $InfinityB | $InfinityB | $InfinityB | $InfinityB | $InfinityB |
WACC Calculation
Weighted Average Cost of Capital used for discounting cash flows.
| WACC Calculation | Value |
|---|---|
| Cost of Debt | 6.8% |
| Tax Rate | 25.0% |
| After Tax Cost of Debt | 5.1% |
| Risk Free Rate | 4.26% |
| Market Risk Premium | 4.3% |
| Beta | 2.47 |
| Cost of Equity | 15.0% |
| Total Debt | $373.0K |
| Market Cap | $19.6M |
| Total Capital | $20.0M |
| Debt Weighting | 1.9% |
| Equity Weighting | 98.1% |
| WACC | 14.8% |
Terminal Value
Choose between perpetuity growth or exit multiple methods.
| Terminal Value Calculation | Value |
|---|---|
| Terminal Growth Rate | 2.5% |
| Final Year FCF | $InfinityB |
| Terminal Value | $InfinityB |
| PV of Terminal Value | $InfinityB |
| Cumulative PV of UFCF | $InfinityB |
| Net Debt | $-5.5M |
| Equity Value | $InfinityB |
| Shares Outstanding | 16.2M |
| Implied Share Price | $InfinityB |
| Current Share Price | $0 |
| Implied Upside/(Downside) | +Infinity% |
Valuation Summary
$Infinity
Implied Price
$0.21
Current Price
+Infinity%
Upside/Downside
14.8%
WACC
IXHL Peer Valuation Analysis
Relative valuation based on comparable company trading multiples
Peer Valuation Analysis
Fair Value Range Analysis
Based on median multiples from 8 peer companies in Healthcare
P/E Ratio
$-79.71
-38220.1%
Peer Median: 64.5x
EV/EBITDA
$0.00
-100.0%
Peer Median: 47.1x
P/S Ratio
$0.00
-98.8%
Peer Median: 9.4x
Interpretation: Each multiple provides a different perspective on fair value. Consider which multiple is most relevant for IXHL's business model and current situation.
Multiple Comparison
| Multiple | IXHL Current | Peer Median | Peer Average | Premium/Discount | Assessment |
|---|---|---|---|---|---|
| P/E Ratio | -0.2x | 64.5x | 64.5x | -100.3% | Undervalued |
| EV/EBITDA | Infinityx | 47.1x | 47.1x | Infinity% | Overvalued |
| P/S Ratio | 816.3x | 9.4x | 7.8x | 8554.6% | Overvalued |
Peer Companies
Click any company to view their valuation
| Company | Market Cap | P/E Ratio | EV/EBITDA | P/S Ratio |
|---|---|---|---|---|
| $0.02B | 0.0x | 0.0x | 0.0x | |
| $0.02B | 0.0x | 0.0x | 1.8x | |
| $0.04B | 0.0x | 0.0x | 0.0x | |
| $0.02B | 0.0x | 0.0x | 816.3x | |
| $0.02B | 0.0x | 0.0x | 4.7x | |
| $0.01B | 0.0x | 0.0x | 9.4x | |
| $0.03B | 0.0x | 0.0x | 43.8x | |
| $754.21B | 64.5x | 47.1x | 15.4x |