Discounted Cash Flow (DCF) Analysis Levered
Amundi S.A. (AMUN.PA)
63.35 €
-0.55 (-0.86%)
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 | 3,947.25 | 4,803.70 | 4,725.22 | 4,571.81 | 5,790.59 | 6,419.97 | 7,117.75 | 7,891.37 | 8,749.08 | 9,700.01 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 2,019.71 | 593.94 | 982.04 | 1,264.15 | 1,955.09 | 1,871.15 | 2,074.53 | 2,300 | 2,549.99 | 2,827.15 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -20.27 | -18.74 | -45.34 | -56.41 | -47.32 | -50.26 | -55.72 | -61.78 | -68.49 | -75.94 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 1,999.44 | 575.20 | 936.70 | 1,207.74 | 1,907.78 | 1,820.89 | 2,018.80 | 2,238.23 | 2,481.50 | 2,751.21 |
Weighted Average Cost Of Capital
| Share price | $ 63.35 |
|---|---|
| Beta | 1.302 |
| Diluted Shares Outstanding | 202.22 |
| Cost of Debt | |
| Tax Rate | 17.40 |
| After-tax Cost of Debt | 0.40% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 9.677 |
| Total Debt | 10,356.05 |
| Total Equity | 12,810.34 |
| Total Capital | 23,166.39 |
| Debt Weighting | 44.70 |
| Equity Weighting | 55.30 |
| 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 | 3,947.25 | 4,803.70 | 4,725.22 | 4,571.81 | 5,790.59 | 6,419.97 | 7,117.75 | 7,891.37 | 8,749.08 | 9,700.01 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 2,019.71 | 593.94 | 982.04 | 1,264.15 | 1,955.09 | 1,871.15 | 2,074.53 | 2,300 | 2,549.99 | 2,827.15 |
| Capital Expenditure | -20.27 | -18.74 | -45.34 | -56.41 | -47.32 | -50.26 | -55.72 | -61.78 | -68.49 | -75.94 |
| Free Cash Flow | 1,999.44 | 575.20 | 936.70 | 1,207.74 | 1,907.78 | 1,820.89 | 2,018.80 | 2,238.23 | 2,481.50 | 2,751.21 |
| WACC | ||||||||||
| PV LFCF | 1,635.06 | 1,717.78 | 1,804.68 | 1,895.98 | 1,991.90 | |||||
| SUM PV LFCF | 9,545.61 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 5.53 |
| Free cash flow (t + 1) | 2,806.23 |
| Terminal Value | 79,496.72 |
| Present Value of Terminal Value | 60,739.26 |
Intrinsic Value
| Enterprise Value | 70,284.87 |
|---|---|
| Net Debt | 9,408.39 |
| Equity Value | 60,876.48 |
| Shares Outstanding | 202.22 |
| Equity Value Per Share | 301.05 |