Discounted Cash Flow
Xiao-i Corp. ADR
—
Audit / VIE / HFCA: Chinese ADR (VIE contractual structure, HFCA Act): the PCAOB must inspect the China-based auditor (e.g. Deloitte/EY China) or the ADRs can be delisted; dividends must be repatriated through the WFOE/VIE and can be blocked. The audit relies on contractual VIE control, not equity, adding structural risk.
Sourced live via DEF 14A beneficial_ownership (edgartools proxy) for US filers and 20-F risk_factors (“controls X% of voting power” + VIE/HFCA) for foreign ADRs — cached 12h. A concentrated holder can overrule the DCF’s minority-basis assumptions on dividends, issuance, and delisting.
Average annual growth rates
| Metric | 10-Year | 5-Year | 3-Year |
|---|---|---|---|
| Sales | — | — | — |
| Free Cash Flow | — | — | — |
| Average (FCF & NI) | — | — | — |
| Net Income | — | — | — |
| Dividends | — | — | — |
Endpoint CAGR (better for long term trend)
| Metric | 10-Year | 5-Year | 3-Year |
|---|---|---|---|
| Sales | — | — | — |
| Free Cash Flow | — | — | — |
| Average (FCF & NI) | — | — | — |
| Net Income | — | — | — |
Projected growth rate
—
Historical inputs (10 fiscal years)
| YEAR | Sales | Net Income | Free Cash Flow | Net Margin | EPS (diluted) |
|---|---|---|---|---|---|
| 2020 | $2.1m | $-36.9k | $-36.9k | -1.8% | $-0.31 |
| 2021 | $4.8m (134.7%) | $-46.6k (-26.3%) | $-1.8m (-4707.1%) | -1.0% (46.2%) | $0.17 (154.8%) |
| 2022 | $7.2m (48.2%) | $-15.9k (65.9%) | $-1.6m (7.4%) | -0.2% (77.0%) | $-0.27 (-258.8%) |
| 2023 | $8.8m (22.8%) | $-81.1k (-409.4%) | $-2.7m (-62.8%) | -0.9% (-314.9%) | $-1.12 (-314.8%) |
| 2024 | $91.5k (-99.0%) | $-6.8k (91.6%) | $-6.8k (99.7%) | -7.5% (-713.3%) | $-0.56 (50.0%) |
| 2025 | $1.8m (1909.9%) | $-90.3k (-1219.9%) | $-556.3k (-8034.1%) | -4.9% (34.3%) | $-2.44 (-335.7%) |
Base FCF: — (latest fiscal year)
Discount rate: % —
Terminal growth: —
Projection period: — years
Alt A decline yrs:
Alt B total yrs:
SEC filings report in CNY. Values above are converted to USD for comparison with the US-listed share price.
Projected cash flows
| Year | Projected cash flow | Discount Factor | Present Value |
|---|
PV of projected FCF: —
Terminal FCF: —
Terminal value: —
PV of terminal value: —
Enterprise value (DCF): —
Net debt deduction: —
Current price: —
—Alternative DCF Models
| Model | Fair Value | Upside | PV(FCFs) | PV(Terminal) | Total Years |
|---|---|---|---|---|---|
| Standard (10yr→TV) | — | — | — | — | 10 + TV |
| Alt A (Gradual Decline) | — | — | — | — | — |
| Alt B (30yr Hard Stop) | — | — | — | N/A | — |
This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.