Discounted Cash Flow (DCF) Analysis Levered

Lexibook - Linguistic Electronic Sy... (ALLEX.PA)

2.6 €

-0.08 (-2.99%)
All numbers are in Millions, Currency in USD
Stock DCF: 3.34 | 2.6 | 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 26.7821.4323.2027.3645.2553.3562.9074.1687.43103.08
Revenue (%)
Operating Cash Flow 2.87-1.743.412.25-2.472.142.532.983.514.14
Operating Cash Flow (%)
Capital Expenditure -0.37-0.33-0.21-0.06-0.24-0.49-0.58-0.68-0.80-0.94
Capital Expenditure (%)
Free Cash Flow 2.50-2.063.212.18-2.711.651.952.302.713.20

Weighted Average Cost Of Capital

Share price $ 2.6
Beta 2.084
Diluted Shares Outstanding 7.76
Cost of Debt
Tax Rate 6.42
After-tax Cost of Debt 3.57%
Risk-Free Rate
Market Risk Premium
Cost of Equity 13.365
Total Debt 9.32
Total Equity 20.18
Total Capital 29.51
Debt Weighting 31.60
Equity Weighting 68.40
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 26.7821.4323.2027.3645.2553.3562.9074.1687.43103.08
Operating Cash Flow 2.87-1.743.412.25-2.472.142.532.983.514.14
Capital Expenditure -0.37-0.33-0.21-0.06-0.24-0.49-0.58-0.68-0.80-0.94
Free Cash Flow 2.50-2.063.212.18-2.711.651.952.302.713.20
WACC
PV LFCF 0.920.981.051.121.20
SUM PV LFCF 8.62

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 10.27
Free cash flow (t + 1) 3.26
Terminal Value 39.43
Present Value of Terminal Value 24.19

Intrinsic Value

Enterprise Value 32.80
Net Debt 6.88
Equity Value 25.93
Shares Outstanding 7.76
Equity Value Per Share 3.34