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
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 | 12.37 | 11.18 | 277.20 | 95.78 | 21.04 | 138.20 | 907.72 | 5,962.20 | 39,161.57 | 257,225.28 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -1.12 | -0.92 | 102.98 | 15.69 | -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 | -1.20 | 101.79 | 11.59 | -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 | 12.37 | 11.18 | 277.20 | 95.78 | 21.04 | 138.20 | 907.72 | 5,962.20 | 39,161.57 | 257,225.28 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -1.12 | -0.92 | 102.98 | 15.69 | -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 | -1.20 | 101.79 | 11.59 | -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 |