Discounted Cash Flow (DCF) Analysis Levered

Novacyt S.A. (ALNOV.PA)

0.4896 €

+0.01 (+1.79%)
All numbers are in Millions, Currency in USD
Stock DCF: 7,297.84 | 0.4896 | undervalue

Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 13.2812.3711.18277.2095.78646.164,359.2329,408.82198,401.601,338,482.65
Revenue (%)
Operating Cash Flow -4.12-1.12-0.92102.9815.696.6945.13304.482,054.1313,857.81
Operating Cash Flow (%)
Capital Expenditure -0.87-0.62-0.29-1.18-4.10-24.30-163.91-1,105.77-7,459.92-50,327.07
Capital Expenditure (%)
Free Cash Flow -4.99-1.74-1.20101.7911.59-17.61-118.77-801.29-5,405.79-36,469.26

Weighted Average Cost Of Capital

Share price $ 0.4,896
Beta -2.222
Diluted Shares Outstanding 79.87
Cost of Debt
Tax Rate 1.03
After-tax Cost of Debt 12.65%
Risk-Free Rate
Market Risk Premium
Cost of Equity -6.745
Total Debt 1.87
Total Equity 39.10
Total Capital 40.97
Debt Weighting 4.56
Equity Weighting 95.44
Wacc

Build Up Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 13.2812.3711.18277.2095.78646.164,359.2329,408.82198,401.601,338,482.65
Operating Cash Flow -4.12-1.12-0.92102.9815.696.6945.13304.482,054.1313,857.81
Capital Expenditure -0.87-0.62-0.29-1.18-4.10-24.30-163.91-1,105.77-7,459.92-50,327.07
Free Cash Flow -4.99-1.74-1.20101.7911.59-17.61-118.77-801.29-5,405.79-36,469.26
WACC
PV LFCF -18.70-134.02-960.44-6,882.76-49,323.74
SUM PV LFCF -57,319.66

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -5.86
Free cash flow (t + 1) -37,198.65
Terminal Value 473,265.23
Present Value of Terminal Value 640,079.08

Intrinsic Value

Enterprise Value 582,759.41
Net Debt -99.88
Equity Value 582,859.29
Shares Outstanding 79.87
Equity Value Per Share 7,297.84