Discounted Cash Flow (DCF) Analysis Levered

Eo2 Société Anonyme (ALEO2.PA)

4.8 €

-0.02 (-0.41%)
All numbers are in Millions, Currency in USD
Stock DCF: 37.73 | 4.8 | undervalue

Free Cash Flow

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 25.4724.4524.7530.6540.0545.2351.0857.6865.1473.57
Revenue (%)
Operating Cash Flow 2.763.381.155.215.535.436.146.937.838.84
Operating Cash Flow (%)
Capital Expenditure -1.07-1.60-0.71-1.98-1.41-2.13-2.41-2.72-3.07-3.47
Capital Expenditure (%)
Free Cash Flow 1.691.770.443.224.123.303.734.214.755.37

Weighted Average Cost Of Capital

Share price $ 4.8
Beta 0.875
Diluted Shares Outstanding 2.44
Cost of Debt
Tax Rate 26.43
After-tax Cost of Debt 3.14%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.392
Total Debt 12
Total Equity 11.72
Total Capital 23.73
Debt Weighting 50.59
Equity Weighting 49.41
Wacc

Build Up Free Cash Flow

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 25.4724.4524.7530.6540.0545.2351.0857.6865.1473.57
Operating Cash Flow 2.763.381.155.215.535.436.146.937.838.84
Capital Expenditure -1.07-1.60-0.71-1.98-1.41-2.13-2.41-2.72-3.07-3.47
Free Cash Flow 1.691.770.443.224.123.303.734.214.755.37
WACC
PV LFCF 3.123.333.563.804.06
SUM PV LFCF 17.88

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.73
Free cash flow (t + 1) 5.39
Terminal Value 103.14
Present Value of Terminal Value 78.06

Intrinsic Value

Enterprise Value 95.95
Net Debt 3.80
Equity Value 92.15
Shares Outstanding 2.44
Equity Value Per Share 37.73