Discounted Cash Flow (DCF) Analysis Levered

Acomo N.V. (ACOMO.AS)

19.06 €

+0.32 (+1.71%)
All numbers are in Millions, Currency in USD
Stock DCF: 85.49 | 19.06 | undervalue

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 709.68700.17701.44707.361,254.441,4961,784.072,127.622,537.323,025.92
Revenue (%)
Operating Cash Flow 50.1219.3459.7834.97-36.3761.0172.7686.77103.48123.41
Operating Cash Flow (%)
Capital Expenditure -5.74-5.56-7.80-5.35-7.77-12.24-14.59-17.40-20.75-24.75
Capital Expenditure (%)
Free Cash Flow 44.3913.7951.9829.62-44.1448.7858.1769.3782.7398.66

Weighted Average Cost Of Capital

Share price $ 19.06
Beta 0.793
Diluted Shares Outstanding 29.65
Cost of Debt
Tax Rate 26.18
After-tax Cost of Debt 1.33%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.361
Total Debt 351.41
Total Equity 565.20
Total Capital 916.61
Debt Weighting 38.34
Equity Weighting 61.66
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 709.68700.17701.44707.361,254.441,4961,784.072,127.622,537.323,025.92
Operating Cash Flow 50.1219.3459.7834.97-36.3761.0172.7686.77103.48123.41
Capital Expenditure -5.74-5.56-7.80-5.35-7.77-12.24-14.59-17.40-20.75-24.75
Free Cash Flow 44.3913.7951.9829.62-44.1448.7858.1769.3782.7398.66
WACC
PV LFCF 46.4352.7159.8467.9377.12
SUM PV LFCF 304.04

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.05
Free cash flow (t + 1) 100.64
Terminal Value 3,299.52
Present Value of Terminal Value 2,579.12

Intrinsic Value

Enterprise Value 2,883.16
Net Debt 348.15
Equity Value 2,535
Shares Outstanding 29.65
Equity Value Per Share 85.49