Discounted Cash Flow (DCF) Analysis Levered

ADLPartner SA (ALP.PA)

17.55 €

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: 73.29 | 17.55 | undervalue

Free Cash Flow

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 122.30124.20124.99138.64139.31144.04148.94154159.23164.65
Revenue (%)
Operating Cash Flow 7.977.709.495.1520.5711.1711.5511.9412.3512.77
Operating Cash Flow (%)
Capital Expenditure -0.50-1.17-2.38-2.15-2.21-1.84-1.90-1.97-2.04-2.11
Capital Expenditure (%)
Free Cash Flow 7.476.527.11318.369.339.659.9810.3110.67

Weighted Average Cost Of Capital

Share price $ 17.55
Beta 0.921
Diluted Shares Outstanding 4.08
Cost of Debt
Tax Rate 28.70
After-tax Cost of Debt 0.63%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.194
Total Debt 25.38
Total Equity 71.60
Total Capital 96.98
Debt Weighting 26.17
Equity Weighting 73.83
Wacc

Build Up Free Cash Flow

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 122.30124.20124.99138.64139.31144.04148.94154159.23164.65
Operating Cash Flow 7.977.709.495.1520.5711.1711.5511.9412.3512.77
Capital Expenditure -0.50-1.17-2.38-2.15-2.21-1.84-1.90-1.97-2.04-2.11
Free Cash Flow 7.476.527.11318.369.339.659.9810.3110.67
WACC
PV LFCF 8.858.678.508.338.17
SUM PV LFCF 42.52

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.48
Free cash flow (t + 1) 10.88
Terminal Value 312.60
Present Value of Terminal Value 239.41

Intrinsic Value

Enterprise Value 281.93
Net Debt -17.09
Equity Value 299.02
Shares Outstanding 4.08
Equity Value Per Share 73.29