Discounted Cash Flow (DCF) Analysis Levered

Visiativ SA (ALVIV.PA)

33.2 €

-0.60 (-1.78%)
All numbers are in Millions, Currency in USD
Stock DCF: 1.11 | 33.2 | overvalue

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 124.39163.22203.22189.95214.40247.67286.10330.49381.76441
Revenue (%)
Operating Cash Flow 8.327.637.3914.4326.9017.4120.1123.2326.8331
Operating Cash Flow (%)
Capital Expenditure -4.94-5.09-6.76-8.72-12.20-10.25-11.84-13.68-15.81-18.26
Capital Expenditure (%)
Free Cash Flow 3.382.540.635.7114.707.158.269.5511.0312.74

Weighted Average Cost Of Capital

Share price $ 33.2
Beta 1.316
Diluted Shares Outstanding 107.49
Cost of Debt
Tax Rate 23.62
After-tax Cost of Debt 1.55%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.621
Total Debt 98.50
Total Equity 3,568.54
Total Capital 3,667.04
Debt Weighting 2.69
Equity Weighting 97.31
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 124.39163.22203.22189.95214.40247.67286.10330.49381.76441
Operating Cash Flow 8.327.637.3914.4326.9017.4120.1123.2326.8331
Capital Expenditure -4.94-5.09-6.76-8.72-12.20-10.25-11.84-13.68-15.81-18.26
Free Cash Flow 3.382.540.635.7114.707.158.269.5511.0312.74
WACC
PV LFCF 4.174.414.654.915.19
SUM PV LFCF 36.57

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 9.40
Free cash flow (t + 1) 12.99
Terminal Value 175.60
Present Value of Terminal Value 112.06

Intrinsic Value

Enterprise Value 148.62
Net Debt 29.80
Equity Value 118.82
Shares Outstanding 107.49
Equity Value Per Share 1.11