Discounted Cash Flow (DCF) Analysis Levered
ABIVAX Société Anonyme (ABVX.PA)
18.36 €
-0.10 (-0.54%)
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 | 0.01 | 0.02 | 0.02 | 0.06 | 0.04 | 0.06 | 0.09 | 0.15 | 0.24 | 0.39 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -8.45 | -14.60 | -27.47 | -29.82 | -45.66 | -54 | -86.46 | -138.43 | -221.63 | -354.84 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.98 | -0.76 | -0.94 | -0.90 | -1.64 | -2.84 | -4.55 | -7.28 | -11.66 | -18.67 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -9.43 | -15.37 | -28.41 | -30.72 | -47.30 | -56.84 | -91.01 | -145.71 | -233.29 | -373.51 |
Weighted Average Cost Of Capital
| Share price | $ 18.36 |
|---|---|
| Beta | 1.411 |
| Diluted Shares Outstanding | 12.20 |
| Cost of Debt | |
| Tax Rate | 9.23 |
| After-tax Cost of Debt | 5.36% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 10.352 |
| Total Debt | 53.45 |
| Total Equity | 224.08 |
| Total Capital | 277.53 |
| Debt Weighting | 19.26 |
| Equity Weighting | 80.74 |
| 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 | 0.01 | 0.02 | 0.02 | 0.06 | 0.04 | 0.06 | 0.09 | 0.15 | 0.24 | 0.39 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -8.45 | -14.60 | -27.47 | -29.82 | -45.66 | -54 | -86.46 | -138.43 | -221.63 | -354.84 |
| Capital Expenditure | -0.98 | -0.76 | -0.94 | -0.90 | -1.64 | -2.84 | -4.55 | -7.28 | -11.66 | -18.67 |
| Free Cash Flow | -9.43 | -15.37 | -28.41 | -30.72 | -47.30 | -56.84 | -91.01 | -145.71 | -233.29 | -373.51 |
| WACC | ||||||||||
| PV LFCF | -43.43 | -63.56 | -93.03 | -136.16 | -199.28 | |||||
| SUM PV LFCF | -640.72 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 9.39 |
| Free cash flow (t + 1) | -380.98 |
| Terminal Value | -5,155.39 |
| Present Value of Terminal Value | -3,291.34 |
Intrinsic Value
| Enterprise Value | -3,932.07 |
|---|---|
| Net Debt | -7.24 |
| Equity Value | -3,924.83 |
| Shares Outstanding | 12.20 |
| Equity Value Per Share | -321.58 |