Discounted Cash Flow (DCF) Analysis Levered
Aumann AG (AAG.DE)
13.2 €
+0.28 (+2.17%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 210.38 | 290.81 | 259.57 | 295.25 | 335.84 | 382.01 | 434.52 | 494.25 | 562.18 | 639.46 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -3.81 | 18.22 | -3.74 | 2.97 | 3.38 | 3.84 | 4.37 | 4.97 | 5.65 | 6.43 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -9.67 | -6.32 | -6.15 | -8.99 | -10.23 | -11.63 | -13.23 | -15.05 | -17.12 | -19.48 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -13.48 | 11.90 | -9.88 | -6.03 | -6.85 | -7.80 | -8.87 | -10.09 | -11.47 | -13.05 |
Weighted Average Cost Of Capital
| Share price | $ 13.2 |
|---|---|
| Beta | 2.055 |
| Diluted Shares Outstanding | 15.53 |
| Cost of Debt | |
| Tax Rate | 28.31 |
| After-tax Cost of Debt | 4.04% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 13.371 |
| Total Debt | 12.94 |
| Total Equity | 205.03 |
| Total Capital | 217.97 |
| Debt Weighting | 5.94 |
| Equity Weighting | 94.06 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 210.38 | 290.81 | 259.57 | 295.25 | 335.84 | 382.01 | 434.52 | 494.25 | 562.18 | 639.46 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -3.81 | 18.22 | -3.74 | 2.97 | 3.38 | 3.84 | 4.37 | 4.97 | 5.65 | 6.43 |
| Capital Expenditure | -9.67 | -6.32 | -6.15 | -8.99 | -10.23 | -11.63 | -13.23 | -15.05 | -17.12 | -19.48 |
| Free Cash Flow | -13.48 | 11.90 | -9.88 | -6.03 | -6.85 | -7.80 | -8.87 | -10.09 | -11.47 | -13.05 |
| WACC | ||||||||||
| PV LFCF | -6.80 | -6.85 | -6.91 | -6.97 | -7.02 | -7.08 | -7.14 | |||
| SUM PV LFCF | -35.12 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 12.82 |
| Free cash flow (t + 1) | -13.31 |
| Terminal Value | -123.02 |
| Present Value of Terminal Value | -67.31 |
Intrinsic Value
| Enterprise Value | -102.43 |
|---|---|
| Net Debt | -59.81 |
| Equity Value | -42.61 |
| Shares Outstanding | 15.53 |
| Equity Value Per Share | -2.74 |