Discounted Cash Flow (DCF) Analysis Levered
Adler Group S.A. (ADJ.DE)
0.8855 €
-0.13 (-13.10%)
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 | 128.85 | 154.85 | 156.52 | 758.74 | 1,143.73 | 2,449.73 | 5,247.03 | 11,238.50 | 24,071.49 | 51,558.18 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 86.85 | 103.93 | 88.76 | 120.30 | -276.24 | 896.29 | 1,919.74 | 4,111.85 | 8,807.08 | 18,863.69 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.80 | -1.18 | -3.12 | -7.88 | -3.95 | -23.31 | -49.93 | -106.95 | -229.08 | -490.66 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 86.06 | 102.75 | 85.64 | 112.42 | -280.19 | 872.98 | 1,869.81 | 4,004.90 | 8,578 | 18,373.03 |
Weighted Average Cost Of Capital
| Share price | $ 0.8,855 |
|---|---|
| Beta | 1.316 |
| Diluted Shares Outstanding | 117.51 |
| Cost of Debt | |
| Tax Rate | -15.11 |
| After-tax Cost of Debt | 3.00% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 9.590 |
| Total Debt | 7,020.43 |
| Total Equity | 104.06 |
| Total Capital | 7,124.49 |
| Debt Weighting | 98.54 |
| Equity Weighting | 1.46 |
| 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 | 128.85 | 154.85 | 156.52 | 758.74 | 1,143.73 | 2,449.73 | 5,247.03 | 11,238.50 | 24,071.49 | 51,558.18 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 86.85 | 103.93 | 88.76 | 120.30 | -276.24 | 896.29 | 1,919.74 | 4,111.85 | 8,807.08 | 18,863.69 |
| Capital Expenditure | -0.80 | -1.18 | -3.12 | -7.88 | -3.95 | -23.31 | -49.93 | -106.95 | -229.08 | -490.66 |
| Free Cash Flow | 86.06 | 102.75 | 85.64 | 112.42 | -280.19 | 872.98 | 1,869.81 | 4,004.90 | 8,578 | 18,373.03 |
| WACC | ||||||||||
| PV LFCF | 846.73 | 1,759.06 | 3,654.39 | 7,591.92 | 15,772.02 | |||||
| SUM PV LFCF | 29,624.12 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 3.10 |
| Free cash flow (t + 1) | 18,740.49 |
| Terminal Value | 1,703,680.85 |
| Present Value of Terminal Value | 1,462,496.77 |
Intrinsic Value
| Enterprise Value | 1,492,120.89 |
|---|---|
| Net Debt | 6,464.73 |
| Equity Value | 1,485,656.16 |
| Shares Outstanding | 117.51 |
| Equity Value Per Share | 12,642.81 |