Discounted Cash Flow (DCF) Analysis Levered

Novacyt S.A. (ALNOV.PA)

0.742 €

-0.04 (-4.87%)
All numbers are in Millions, Currency in USD
Stock DCF: 5,874.49 | 0.742 | 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 12.3711.18277.2095.7821.04138.20907.725,962.2039,161.57257,225.28
Revenue (%)
Operating Cash Flow -1.12-0.92102.9815.69-13.73-8.02-52.66-345.89-2,271.94-14,922.81
Operating Cash Flow (%)
Capital Expenditure -0.62-0.29-1.18-4.10-0.42-3.94-25.85-169.77-1,115.13-7,324.51
Capital Expenditure (%)
Free Cash Flow -1.74-1.20101.7911.59-14.15-11.95-78.51-515.67-3,387.07-22,247.32

Weighted Average Cost Of Capital

Share price $ 0.742
Beta -2.092
Diluted Shares Outstanding 70.63
Cost of Debt
Tax Rate -10.71
After-tax Cost of Debt 56.08%
Risk-Free Rate
Market Risk Premium
Cost of Equity -5.332
Total Debt 0.87
Total Equity 52.40
Total Capital 53.28
Debt Weighting 1.64
Equity Weighting 98.36
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 12.3711.18277.2095.7821.04138.20907.725,962.2039,161.57257,225.28
Operating Cash Flow -1.12-0.92102.9815.69-13.73-8.02-52.66-345.89-2,271.94-14,922.81
Capital Expenditure -0.62-0.29-1.18-4.10-0.42-3.94-25.85-169.77-1,115.13-7,324.51
Free Cash Flow -1.74-1.20101.7911.59-14.15-11.95-78.51-515.67-3,387.07-22,247.32
WACC
PV LFCF -12.49-85.78-588.90-4,043.16-27,758.68
SUM PV LFCF -32,489.01

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -4.33
Free cash flow (t + 1) -22,692.26
Terminal Value 358,487.57
Present Value of Terminal Value 447,296.22

Intrinsic Value

Enterprise Value 414,807.21
Net Debt -86.10
Equity Value 414,893.31
Shares Outstanding 70.63
Equity Value Per Share 5,874.49