Discounted Cash Flow (DCF) Analysis Levered

Uniti S.A (ALUNT.PA)

2.04 €

+0.02 (+0.99%)
All numbers are in Millions, Currency in USD
Stock DCF: 89,294.57 | 2.04 | undervalue

Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Projected
2020
Projected
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 27.9251.7495.88177.68329.28610.201,130.792,095.523,883.327,196.39
Revenue (%)
Operating Cash Flow -14.18-6.83-30.68-56.85-105.35-195.23-361.79-670.45-1,242.44-2,302.43
Operating Cash Flow (%)
Capital Expenditure -0.24-0.01-0.42-0.78-1.45-2.68-4.97-9.21-17.07-31.63
Capital Expenditure (%)
Free Cash Flow -14.42-6.84-31.10-57.63-106.80-197.91-366.76-679.66-1,259.51-2,334.06

Weighted Average Cost Of Capital

Share price $ 2.04
Beta -0.210
Diluted Shares Outstanding 10.13
Cost of Debt
Tax Rate -111.25
After-tax Cost of Debt 1.56%
Risk-Free Rate
Market Risk Premium
Cost of Equity 2.537
Total Debt 80.61
Total Equity 20.67
Total Capital 101.28
Debt Weighting 79.60
Equity Weighting 20.40
Wacc

Build Up Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Projected
2020
Projected
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 27.9251.7495.88177.68329.28610.201,130.792,095.523,883.327,196.39
Operating Cash Flow -14.18-6.83-30.68-56.85-105.35-195.23-361.79-670.45-1,242.44-2,302.43
Capital Expenditure -0.24-0.01-0.42-0.78-1.45-2.68-4.97-9.21-17.07-31.63
Free Cash Flow -14.42-6.84-31.10-57.63-106.80-197.91-366.76-679.66-1,259.51-2,334.06
WACC
PV LFCF -32.20-58.64-106.80-194.49-354.18-645-1,174.61-2,139.08
SUM PV LFCF -4,507.35

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 1.76
Free cash flow (t + 1) -2,380.74
Terminal Value 991,974.86
Present Value of Terminal Value 909,107.36

Intrinsic Value

Enterprise Value 904,600.01
Net Debt 46.06
Equity Value 904,553.95
Shares Outstanding 10.13
Equity Value Per Share 89,294.57