Discounted Cash Flow (DCF) Analysis Levered
Arcure S.A. (ALCUR.PA)
3.28 €
+0.02 (+0.61%)
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 | 5.09 | 7.98 | 8.30 | 8.59 | 10.43 | 12.67 | 15.38 | 18.67 | 22.67 | 27.52 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 0.89 | -0.75 | -1.81 | -1.19 | -1.43 | -1.05 | -1.27 | -1.54 | -1.87 | -2.27 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.85 | -0.94 | -2.72 | -1.89 | -2.13 | -2.63 | -3.19 | -3.87 | -4.70 | -5.70 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 0.04 | -1.69 | -4.53 | -3.08 | -3.56 | -3.67 | -4.46 | -5.41 | -6.57 | -7.98 |
Weighted Average Cost Of Capital
| Share price | $ 3.28 |
|---|---|
| Beta | 0.544 |
| Diluted Shares Outstanding | 107.49 |
| Cost of Debt | |
| Tax Rate | 0.17 |
| After-tax Cost of Debt | 1.67% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 6.086 |
| Total Debt | 5.34 |
| Total Equity | 352.55 |
| Total Capital | 357.89 |
| Debt Weighting | 1.49 |
| Equity Weighting | 98.51 |
| 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 | 5.09 | 7.98 | 8.30 | 8.59 | 10.43 | 12.67 | 15.38 | 18.67 | 22.67 | 27.52 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 0.89 | -0.75 | -1.81 | -1.19 | -1.43 | -1.05 | -1.27 | -1.54 | -1.87 | -2.27 |
| Capital Expenditure | -0.85 | -0.94 | -2.72 | -1.89 | -2.13 | -2.63 | -3.19 | -3.87 | -4.70 | -5.70 |
| Free Cash Flow | 0.04 | -1.69 | -4.53 | -3.08 | -3.56 | -3.67 | -4.46 | -5.41 | -6.57 | -7.98 |
| WACC | ||||||||||
| PV LFCF | -3.46 | -3.97 | -4.54 | -5.20 | -5.96 | |||||
| SUM PV LFCF | -23.13 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 6.02 |
| Free cash flow (t + 1) | -8.14 |
| Terminal Value | -202.42 |
| Present Value of Terminal Value | -151.12 |
Intrinsic Value
| Enterprise Value | -174.25 |
|---|---|
| Net Debt | 3.53 |
| Equity Value | -177.78 |
| Shares Outstanding | 107.49 |
| Equity Value Per Share | -1.65 |