Discounted Cash Flow (DCF) Analysis Levered
AB Science S.A. (AB.PA)
8.37 €
+0.13 (+1.58%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 1.74 | 1.70 | 1.57 | 1.58 | 1.61 | 1.58 | 1.55 | 1.52 | 1.49 | 1.46 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -22.90 | -26.79 | -15.16 | -13.51 | -17.18 | -18.22 | -17.88 | -17.54 | -17.21 | -16.89 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.50 | -0.48 | -0.39 | -0.37 | -0.56 | -0.44 | -0.44 | -0.43 | -0.42 | -0.41 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -23.40 | -27.28 | -15.55 | -13.88 | -17.74 | -18.67 | -18.31 | -17.97 | -17.63 | -17.30 |
Weighted Average Cost Of Capital
| Share price | $ 8.37 |
|---|---|
| Beta | 0.949 |
| Diluted Shares Outstanding | 47.52 |
| Cost of Debt | |
| Tax Rate | 1.65 |
| After-tax Cost of Debt | 15.14% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 7.328 |
| Total Debt | 8.35 |
| Total Equity | 397.75 |
| Total Capital | 406.10 |
| Debt Weighting | 2.06 |
| Equity Weighting | 97.94 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 1.74 | 1.70 | 1.57 | 1.58 | 1.61 | 1.58 | 1.55 | 1.52 | 1.49 | 1.46 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -22.90 | -26.79 | -15.16 | -13.51 | -17.18 | -18.22 | -17.88 | -17.54 | -17.21 | -16.89 |
| Capital Expenditure | -0.50 | -0.48 | -0.39 | -0.37 | -0.56 | -0.44 | -0.44 | -0.43 | -0.42 | -0.41 |
| Free Cash Flow | -23.40 | -27.28 | -15.55 | -13.88 | -17.74 | -18.67 | -18.31 | -17.97 | -17.63 | -17.30 |
| WACC | ||||||||||
| PV LFCF | -17.37 | -15.85 | -14.47 | -13.21 | -12.05 | |||||
| SUM PV LFCF | -72.94 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.49 |
| Free cash flow (t + 1) | -17.64 |
| Terminal Value | -321.36 |
| Present Value of Terminal Value | -223.95 |
Intrinsic Value
| Enterprise Value | -296.90 |
|---|---|
| Net Debt | -0.37 |
| Equity Value | -296.53 |
| Shares Outstanding | 47.52 |
| Equity Value Per Share | -6.24 |