Discounted Cash Flow (DCF) Analysis Levered

Ascencio SCA (ASC.BR)

55 €

-0.10 (-0.18%)
All numbers are in Millions, Currency in USD
Stock DCF: 80.62 | 55 | 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 47.5047.8451.4046.2848.5348.9049.2749.6550.0350.41
Revenue (%)
Operating Cash Flow 32.4532.4133.7538.0138.9035.6035.8736.1436.4236.70
Operating Cash Flow (%)
Capital Expenditure -1.33-3.98-87.25-0.02-0.05-17.70-17.84-17.97-18.11-18.25
Capital Expenditure (%)
Free Cash Flow 31.1228.43-53.5037.9938.8517.9018.0318.1718.3118.45

Weighted Average Cost Of Capital

Share price $ 55
Beta 0.544
Diluted Shares Outstanding 6.60
Cost of Debt
Tax Rate 5.13
After-tax Cost of Debt 1.66%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.101
Total Debt 326.71
Total Equity 362.78
Total Capital 689.49
Debt Weighting 47.38
Equity Weighting 52.62
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 47.5047.8451.4046.2848.5348.9049.2749.6550.0350.41
Operating Cash Flow 32.4532.4133.7538.0138.9035.6035.8736.1436.4236.70
Capital Expenditure -1.33-3.98-87.25-0.02-0.05-17.70-17.84-17.97-18.11-18.25
Free Cash Flow 31.1228.43-53.5037.9938.8517.9018.0318.1718.3118.45
WACC
PV LFCF 16.5516.0315.5315.0514.58
SUM PV LFCF 80.84

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.00
Free cash flow (t + 1) 18.82
Terminal Value 940.80
Present Value of Terminal Value 773.27

Intrinsic Value

Enterprise Value 854.11
Net Debt 322.36
Equity Value 531.75
Shares Outstanding 6.60
Equity Value Per Share 80.62