NEA 0.00% $2.10 nearmap ltd

Here is a little discounted cashflow valuation using published...

  1. 57 Posts.
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    Here is a little discounted cashflow valuation using published figures; the 2024+ figures assumes no further growth and thus discounts the final net cashflow in perpetuity. We get a price of $7.66 in the basic case, $14.89 using a lower discount rate and $20.46 in an optimistic case.


    Base case using current figures, 10% discount rate





    $mrevenue growth at 44% for 5 years then flat and rest in perpetuity

    2018201920202021202220232024+Total
    Revenue72104149215310446642
    GM %82%82%82%82%82%82%82%
    GP5985122176254366526
    Fixed costs-72-72-72-72-72-72-72
    Profit-131350104182294454
    tax0-4-15-31-55-88-136
    PL (cashflow)-1393573127205318
    Disc factor (10%)0.91 0.83 0.75 0.68 0.62 0.56 0.1
    NPV-12 8 27 50 79 116 3,181 3,448
    shares on issue






    450
    share price






    $7.66









    Base case using current figures, 5% discount rate





    $mrevenue growth at 44% for 5 years then flat and rest in perpetuity

    2018201920202021202220232024+Total
    Revenue72104149215310446642
    GM %82%82%82%82%82%82%82%
    GP5985122176254366526
    Fixed costs-72-72-72-72-72-72-72
    Profit-131350104182294454
    tax0-4-15-31-55-88-136
    PL (cashflow)-1393573127205318
    Disc factor (10%)0.95 0.91 0.86 0.82 0.78 0.75 0.05
    NPV-12 8 30 60 100 153 6,362 6,701
    shares on issue






    450
    share price






    $14.89









    optimistic case using optimistic figures, 5% discount rate




    $mrevenue growth at 50% for 5 years then flat and rest in perpetuity

    2018201920202021202220232024+Total
    Revenue72108162243365547820
    GM %85%85%85%85%85%85%85%
    GP6192138207310465697
    Fixed costs-72-72-72-72-72-72-72
    Profit-112066135238393625
    tax0-6-20-40-71-118-188
    PL (cashflow)-11144694166275438
    Disc factor (10%)0.95 0.91 0.86 0.82 0.78 0.75 0.05
    sqd123456

    NPV-10 13 40 77 130 205 8,751 9,207
    shares on issue






    450
    share price






    $20.46


 
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