Discounted Cash Flow
Novabridge Biosciences 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) |
|---|---|---|---|---|---|
| 2016 | — | — | — | — | — |
| 2017 | $127.9k | $-44.5m | $-37.9m | -34759.9% | $-51.93 |
| 2018 | $8.0m (6168.2%) | $-60.1m (-35.1%) | $-44.0m (-16.0%) | -749.0% (97.8%) | $-61.70 (-18.8%) |
| 2019 | $642.5k (-92.0%) | $-216.5m (-260.4%) | $658.2k (101.5%) | -33695.8% (-4398.6%) | $-28.90 (53.2%) |
| 2020 | $35.3m (5386.7%) | $70.2m (132.4%) | $1.1m (72.4%) | 199.2% (100.6%) | $0.54 (101.9%) |
| 2021 | $2.1m (-94.2%) | $-347.7m (-595.1%) | $2.1m (83.6%) | -16879.3% (-8574.3%) | $-2.09 (-487.0%) |
| 2022 | $-4.8m (-332.6%) | $-373.9m (-7.5%) | $4.3m (108.0%) | 7805.1% (146.2%) | $-0.74 (64.6%) |
| 2023 | $94.2k (102.0%) | $-218.5m (41.5%) | $3.1m (-29.5%) | -231913.6% (-3071.3%) | $-0.43 (41.9%) |
| 2024 | $1.1m (1084.5%) | $-3.3m (98.5%) | $112.9k (-96.3%) | -297.0% (99.9%) | $-0.27 (37.2%) |
| 2025 | $1.1m (1.7%) | $-6.9m (-108.1%) | $149.7k (32.6%) | -607.9% (-104.7%) | $-0.21 (22.2%) |
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.