Discounted Cash Flow (DCF) Analysis Levered
Valbiotis SA (ALVAL.PA)
6.04 €
-0.08 (-1.31%)
All numbers are in Millions, Currency in USD
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 | 0.49 | 1.46 | 1.31 | 4.35 | 2.05 | 3.92 | 7.51 | 14.39 | 27.57 | 52.81 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -2.17 | -4.55 | -4.95 | 2.69 | -7.16 | -11.12 | -21.30 | -40.79 | -78.13 | -149.66 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.63 | -0.84 | -0.29 | -0.33 | -0.42 | -1.85 | -3.54 | -6.79 | -13 | -24.91 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -2.80 | -5.39 | -5.24 | 2.36 | -7.58 | -12.97 | -24.84 | -47.58 | -91.14 | -174.57 |
Weighted Average Cost Of Capital
| Share price | $ 6.04 |
|---|---|
| Beta | 0.654 |
| Diluted Shares Outstanding | 107.49 |
| Cost of Debt | |
| Tax Rate | 0.00 |
| After-tax Cost of Debt | 3.02% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 5.977 |
| Total Debt | 7.59 |
| Total Equity | 649.22 |
| Total Capital | 656.81 |
| Debt Weighting | 1.16 |
| Equity Weighting | 98.84 |
| 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 | 0.49 | 1.46 | 1.31 | 4.35 | 2.05 | 3.92 | 7.51 | 14.39 | 27.57 | 52.81 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -2.17 | -4.55 | -4.95 | 2.69 | -7.16 | -11.12 | -21.30 | -40.79 | -78.13 | -149.66 |
| Capital Expenditure | -0.63 | -0.84 | -0.29 | -0.33 | -0.42 | -1.85 | -3.54 | -6.79 | -13 | -24.91 |
| Free Cash Flow | -2.80 | -5.39 | -5.24 | 2.36 | -7.58 | -12.97 | -24.84 | -47.58 | -91.14 | -174.57 |
| WACC | ||||||||||
| PV LFCF | -12.24 | -22.13 | -40.02 | -72.35 | -130.82 | |||||
| SUM PV LFCF | -277.56 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 5.94 |
| Free cash flow (t + 1) | -178.06 |
| Terminal Value | -4,519.34 |
| Present Value of Terminal Value | -3,386.68 |
Intrinsic Value
| Enterprise Value | -3,664.25 |
|---|---|
| Net Debt | -14.23 |
| Equity Value | -3,650.02 |
| Shares Outstanding | 107.49 |
| Equity Value Per Share | -33.96 |