Discounted Cash Flow (DCF) Analysis Levered

Arkema S.A. (AKE.PA)

92.08 €

+0.34 (+0.37%)
All numbers are in Millions, Currency in USD
Stock DCF: 116.53 | 92.08 | undervalue

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 8,7387,8849,51911,5509,5149,863.0110,224.8110,599.9010,988.7411,391.84
Revenue (%)
Operating Cash Flow 1,3001,1159151,4961,2561,277.981,324.861,373.461,423.841,476.07
Operating Cash Flow (%)
Capital Expenditure -661-605-763-730-634-714.83-741.06-768.24-796.42-825.64
Capital Expenditure (%)
Free Cash Flow 639510152766622563.14583.80605.22627.42650.43

Weighted Average Cost Of Capital

Share price $ 92.08
Beta 1.223
Diluted Shares Outstanding 74.65
Cost of Debt
Tax Rate 31.59
After-tax Cost of Debt 2.98%
Risk-Free Rate
Market Risk Premium
Cost of Equity 10.129
Total Debt 4,975
Total Equity 6,873.51
Total Capital 11,848.51
Debt Weighting 41.99
Equity Weighting 58.01
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 8,7387,8849,51911,5509,5149,863.0110,224.8110,599.9010,988.7411,391.84
Operating Cash Flow 1,3001,1159151,4961,2561,277.981,324.861,373.461,423.841,476.07
Capital Expenditure -661-605-763-730-634-714.83-741.06-768.24-796.42-825.64
Free Cash Flow 639510152766622563.14583.80605.22627.42650.43
WACC
PV LFCF 525.66508.68492.24476.34460.94
SUM PV LFCF 2,463.86

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.13
Free cash flow (t + 1) 663.44
Terminal Value 12,932.61
Present Value of Terminal Value 9,164.96

Intrinsic Value

Enterprise Value 11,628.83
Net Debt 2,930
Equity Value 8,698.83
Shares Outstanding 74.65
Equity Value Per Share 116.53