Discounted Cash Flow (DCF) Analysis Levered

Fleury Michon SA (ALFLE.PA)

19.2 €

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: 7.41 | 19.2 | overvalue

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 716.95725.27747.62735.45705.63703.09700.56698.04695.53693.02
Revenue (%)
Operating Cash Flow 32.1044.8126.8467.8864.6645.8945.7345.5645.4045.24
Operating Cash Flow (%)
Capital Expenditure -21.76-31.82-38.49-23.81-20.57-26.33-26.23-26.14-26.04-25.95
Capital Expenditure (%)
Free Cash Flow 10.3412.99-11.6544.0744.0919.5719.5019.4319.3619.29

Weighted Average Cost Of Capital

Share price $ 19.2
Beta 0.380
Diluted Shares Outstanding 79.87
Cost of Debt
Tax Rate 63.01
After-tax Cost of Debt 0.63%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.313
Total Debt 226.85
Total Equity 1,533.45
Total Capital 1,760.30
Debt Weighting 12.89
Equity Weighting 87.11
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 716.95725.27747.62735.45705.63703.09700.56698.04695.53693.02
Operating Cash Flow 32.1044.8126.8467.8864.6645.8945.7345.5645.4045.24
Capital Expenditure -21.76-31.82-38.49-23.81-20.57-26.33-26.23-26.14-26.04-25.95
Free Cash Flow 10.3412.99-11.6544.0744.0919.5719.5019.4319.3619.29
WACC
PV LFCF 18.6917.7816.9216.1015.32
SUM PV LFCF 84.81

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.71
Free cash flow (t + 1) 19.67
Terminal Value 725.91
Present Value of Terminal Value 576.69

Intrinsic Value

Enterprise Value 661.50
Net Debt 69.39
Equity Value 592.11
Shares Outstanding 79.87
Equity Value Per Share 7.41