Discounted Cash Flow (DCF) Analysis Levered

1000mercis (ALMIL.PA)

26.6 €

+1.00 (+3.91%)
All numbers are in Millions, Currency in USD
Stock DCF: 32.29 | 26.6 | 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 68.0969.2358.4968.9076.9279.9283.0386.2789.6393.13
Revenue (%)
Operating Cash Flow 2.612.7610.449.95-1.306.146.386.636.897.16
Operating Cash Flow (%)
Capital Expenditure -3.48-3.55-2.25-1-1.05-2.70-2.81-2.91-3.03-3.15
Capital Expenditure (%)
Free Cash Flow -0.87-0.798.198.95-2.353.443.583.713.864.01

Weighted Average Cost Of Capital

Share price $ 26.6
Beta 0.802
Diluted Shares Outstanding 2.16
Cost of Debt
Tax Rate -21.06
After-tax Cost of Debt 4.34%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.124
Total Debt 13.64
Total Equity 57.59
Total Capital 71.23
Debt Weighting 19.15
Equity Weighting 80.85
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 68.0969.2358.4968.9076.9279.9283.0386.2789.6393.13
Operating Cash Flow 2.612.7610.449.95-1.306.146.386.636.897.16
Capital Expenditure -3.48-3.55-2.25-1-1.05-2.70-2.81-2.91-3.03-3.15
Free Cash Flow -0.87-0.798.198.95-2.353.443.583.713.864.01
WACC
PV LFCF 3.203.1032.902.81
SUM PV LFCF 15.01

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.40
Free cash flow (t + 1) 4.09
Terminal Value 75.74
Present Value of Terminal Value 53

Intrinsic Value

Enterprise Value 68.01
Net Debt -1.90
Equity Value 69.91
Shares Outstanding 2.16
Equity Value Per Share 32.29