Discounted Cash Flow (DCF) Analysis Levered
Cybergun S.A. (ALCYB.PA)
0.469 €
+0.01 (+3.21%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2016 Actual | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 41.29 | 33.72 | 31.99 | 28.25 | 24.94 | 22.01 | 19.43 | 17.15 | 15.14 | 13.37 | 11.80 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | |||||||||||
| Operating Cash Flow | -5.02 | -3 | -3.48 | -1.79 | -2.39 | -2.11 | -1.86 | -1.64 | -1.45 | -1.28 | -1.13 |
| Operating Cash Flow (%) | |||||||||||
| Capital Expenditure | -0.30 | -0.37 | -0.04 | -0.20 | -0.16 | -0.15 | -0.13 | -0.11 | -0.10 | -0.09 | -0.08 |
| Capital Expenditure (%) | |||||||||||
| Free Cash Flow | -5.32 | -3.37 | -3.52 | -1.99 | -2.55 | -2.25 | -1.99 | -1.75 | -1.55 | -1.37 | -1.21 |
Weighted Average Cost Of Capital
| Share price | $ 0.469 |
|---|---|
| Beta | 0.453 |
| Diluted Shares Outstanding | 46.16 |
| Cost of Debt | |
| Tax Rate | 3.63 |
| After-tax Cost of Debt | 0.97% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 4.904 |
| Total Debt | 5.91 |
| Total Equity | 21.65 |
| Total Capital | 27.56 |
| Debt Weighting | 21.45 |
| Equity Weighting | 78.55 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2016 Actual | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 41.29 | 33.72 | 31.99 | 28.25 | 24.94 | 22.01 | 19.43 | 17.15 | 15.14 | 13.37 | 11.80 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -5.02 | -3 | -3.48 | -1.79 | -2.39 | -2.11 | -1.86 | -1.64 | -1.45 | -1.28 | -1.13 |
| Capital Expenditure | -0.30 | -0.37 | -0.04 | -0.20 | -0.16 | -0.15 | -0.13 | -0.11 | -0.10 | -0.09 | -0.08 |
| Free Cash Flow | -5.32 | -3.37 | -3.52 | -1.99 | -2.55 | -2.25 | -1.99 | -1.75 | -1.55 | -1.37 | -1.21 |
| WACC | |||||||||||
| PV LFCF | -2.55 | -2.16 | -1.84 | -1.56 | -1.32 | -1.12 | -0.95 | ||||
| SUM PV LFCF | -7.06 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 4.06 |
| Free cash flow (t + 1) | -1.23 |
| Terminal Value | -59.78 |
| Present Value of Terminal Value | -48.99 |
Intrinsic Value
| Enterprise Value | -56.05 |
|---|---|
| Net Debt | -0.31 |
| Equity Value | -55.74 |
| Shares Outstanding | 46.16 |
| Equity Value Per Share | -1.21 |