Discounted Cash Flow (DCF) Analysis Levered

U10 Corp (ALU10.PA)

1.08 €

+0.03 (+2.37%)
All numbers are in Millions, Currency in USD
Stock DCF: 5.20 | 1.08 | 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 181.39180.55145.58184.46183.86186.87189.94193.05196.21199.43
Revenue (%)
Operating Cash Flow -3.7217.2915.59-14.365.455.015.105.185.265.35
Operating Cash Flow (%)
Capital Expenditure -1.25-1.33-0.71-1.22-0.65-1.09-1.11-1.13-1.15-1.17
Capital Expenditure (%)
Free Cash Flow -4.9715.9614.87-15.584.813.923.984.054.114.18

Weighted Average Cost Of Capital

Share price $ 1.08
Beta 0.727
Diluted Shares Outstanding 17.07
Cost of Debt
Tax Rate -5.62
After-tax Cost of Debt 4.29%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.716
Total Debt 48.87
Total Equity 18.44
Total Capital 67.30
Debt Weighting 72.61
Equity Weighting 27.39
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 181.39180.55145.58184.46183.86186.87189.94193.05196.21199.43
Operating Cash Flow -3.7217.2915.59-14.365.455.015.105.185.265.35
Capital Expenditure -1.25-1.33-0.71-1.22-0.65-1.09-1.11-1.13-1.15-1.17
Free Cash Flow -4.9715.9614.87-15.584.813.923.984.054.114.18
WACC
PV LFCF 3.723.603.483.363.24
SUM PV LFCF 17.40

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.22
Free cash flow (t + 1) 4.27
Terminal Value 132.47
Present Value of Terminal Value 102.71

Intrinsic Value

Enterprise Value 120.11
Net Debt 31.29
Equity Value 88.82
Shares Outstanding 17.07
Equity Value Per Share 5.20