Assumptions:
Period: 10 yrs
WACC 11%
Terminal G 3%
EBITDA margins 60%
capex/unit $2.5m depreciated over 10yrs
Annual rental Rev/unit $1m over 7 yr term
Rollout of units FY24 - 13units p.a, steady state FY26 48p.a
Positive FCF FY30
Doesn't factor in dilution/use of debt to fund the capex spend