Discounted Cash Flow (DCF) Analysis Levered
Montagne et Neige Développement SA (ALMND.PA)
1.28 €
-0.02 (-1.54%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Projected | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 76.44 | 87.60 | 100.39 | 115.04 | 131.84 | 151.08 | 173.14 | 198.41 | 227.38 | 260.57 | 298.61 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | |||||||||||
| Operating Cash Flow | 4.34 | -13.56 | -4.92 | -5.64 | -6.46 | -7.40 | -8.48 | -9.72 | -11.14 | -12.76 | -14.63 |
| Operating Cash Flow (%) | |||||||||||
| Capital Expenditure | -8.54 | -9.43 | -11.01 | -12.62 | -14.46 | -16.57 | -18.99 | -21.77 | -24.94 | -28.59 | -32.76 |
| Capital Expenditure (%) | |||||||||||
| Free Cash Flow | -4.20 | -22.99 | -15.93 | -18.26 | -20.92 | -23.98 | -27.48 | -31.49 | -36.08 | -41.35 | -47.39 |
Weighted Average Cost Of Capital
| Share price | $ 1.28 |
|---|---|
| Beta | 1.401 |
| Diluted Shares Outstanding | 2.51 |
| Cost of Debt | |
| Tax Rate | -2.55 |
| After-tax Cost of Debt | 11.39% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 11.052 |
| Total Debt | 119.26 |
| Total Equity | 3.22 |
| Total Capital | 122.48 |
| Debt Weighting | 97.37 |
| Equity Weighting | 2.63 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Projected | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 76.44 | 87.60 | 100.39 | 115.04 | 131.84 | 151.08 | 173.14 | 198.41 | 227.38 | 260.57 | 298.61 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 4.34 | -13.56 | -4.92 | -5.64 | -6.46 | -7.40 | -8.48 | -9.72 | -11.14 | -12.76 | -14.63 |
| Capital Expenditure | -8.54 | -9.43 | -11.01 | -12.62 | -14.46 | -16.57 | -18.99 | -21.77 | -24.94 | -28.59 | -32.76 |
| Free Cash Flow | -4.20 | -22.99 | -15.93 | -18.26 | -20.92 | -23.98 | -27.48 | -31.49 | -36.08 | -41.35 | -47.39 |
| WACC | |||||||||||
| PV LFCF | -19.76 | -20.33 | -20.92 | -21.53 | -22.15 | -22.79 | -23.45 | -24.12 | -24.82 | ||
| SUM PV LFCF | -130.68 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 11.38 |
| Free cash flow (t + 1) | -48.33 |
| Terminal Value | -515.29 |
| Present Value of Terminal Value | -300.62 |
Intrinsic Value
| Enterprise Value | -431.30 |
|---|---|
| Net Debt | 114.12 |
| Equity Value | -545.42 |
| Shares Outstanding | 2.51 |
| Equity Value Per Share | -217.02 |