Discounted Cash Flow (DCF) Analysis Levered

AgroGeneration SA (ALAGR.PA)

0.082 €

-0.00 (-3.42%)

All numbers are in Millions, Currency in USD

Stock DCF: 0.78 | 0.082 | 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	54.20	41.01	30.59	39.15	43.90	42.84	41.81	40.80	39.82	38.86
Revenue (%)
Operating Cash Flow	3.66	15.98	-2.07	13.84	20.39	10.35	10.10	9.85	9.62	9.38
Operating Cash Flow (%)
Capital Expenditure	-7.16	-0.89	-1.57	-1.13	-3.09	-2.61	-2.54	-2.48	-2.42	-2.36
Capital Expenditure (%)
Free Cash Flow	-3.50	15.09	-3.63	12.71	17.30	7.74	7.55	7.37	7.19	7.02

Weighted Average Cost Of Capital

Share price	$ 0.082
Beta	0.544
Diluted Shares Outstanding	226.66
Cost of Debt
Tax Rate	-0.80
After-tax Cost of Debt	4.69%
Risk-Free Rate
Market Risk Premium
Cost of Equity	6.192
Total Debt	24.60
Total Equity	18.59
Total Capital	43.19
Debt Weighting	56.96
Equity Weighting	43.04
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	54.20	41.01	30.59	39.15	43.90	42.84	41.81	40.80	39.82	38.86
Operating Cash Flow	3.66	15.98	-2.07	13.84	20.39	10.35	10.10	9.85	9.62	9.38
Capital Expenditure	-7.16	-0.89	-1.57	-1.13	-3.09	-2.61	-2.54	-2.48	-2.42	-2.36
Free Cash Flow	-3.50	15.09	-3.63	12.71	17.30	7.74	7.55	7.37	7.19	7.02
WACC
PV LFCF						7.35	6.81	6.31	5.84	5.41
SUM PV LFCF										31.71

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%)	5.34
Free cash flow (t + 1)	7.16
Terminal Value	214.39
Present Value of Terminal Value	165.29

Intrinsic Value

Enterprise Value	197
Net Debt	20.19
Equity Value	176.81
Shares Outstanding	226.66
Equity Value Per Share	0.78