Discounted Cash Flow
Wimi Hologram Cloud Inc. ADR
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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) |
|---|---|---|---|---|---|
| 2017 | $28.6m | $11.0m | $15.8m | 38.5% | — |
| 2018 | $33.5m (17.3%) | $14.5m (31.7%) | $14.8m (-6.3%) | 43.2% (12.3%) | — |
| 2019 | $47.5m (41.7%) | $15.7m (8.3%) | $21.4m (44.6%) | 33.0% (-23.6%) | — |
| 2020 | $113.9m (140.0%) | $-21.1m (-234.9%) | $-10.0m (-146.9%) | -18.5% (-156.2%) | — |
| 2021 | $138.8m (21.9%) | $-38.0m (-79.7%) | $4.9m (148.9%) | -27.3% (-47.4%) | — |
| 2022 | $101.5m (-26.9%) | $-56.6m (-49.1%) | $-35.6m (-825.1%) | -55.8% (-104.0%) | — |
| 2023 | $87.0m (-14.2%) | $-76.3m (-34.8%) | $3.0m (108.6%) | -87.6% (-57.1%) | — |
| 2024 | $80.6m (-7.4%) | $16.3m (121.4%) | $79.2m (2500.4%) | 20.3% (123.1%) | — |
| 2025 | $62.8m (-22.1%) | $52.7m (222.5%) | $8.8m (-88.9%) | 83.9% (313.9%) | — |
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.