Discounted Cash Flow (DCF) Analysis Levered

Barco NV (BAR.BR)

23.22 €

+0.16 (+0.69%)
All numbers are in Millions, Currency in USD
Stock DCF: 7.69 | 23.22 | 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 1,084.711,028.531,082.57770.08804.29755.33709.35666.17625.62587.54
Revenue (%)
Operating Cash Flow 64.5089.92108.60-18.4599.6552.4449.2546.2543.4440.79
Operating Cash Flow (%)
Capital Expenditure -23.16-25.63-20.17-14.98-18.79-16.27-15.28-14.35-13.48-12.66
Capital Expenditure (%)
Free Cash Flow 41.3464.2988.43-33.4380.8736.1733.9731.9029.9628.14

Weighted Average Cost Of Capital

Share price $ 23.22
Beta 1.271
Diluted Shares Outstanding 88.27
Cost of Debt
Tax Rate 25.01
After-tax Cost of Debt 3.07%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.552
Total Debt 44.58
Total Equity 2,049.52
Total Capital 2,094.11
Debt Weighting 2.13
Equity Weighting 97.87
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 1,084.711,028.531,082.57770.08804.29755.33709.35666.17625.62587.54
Operating Cash Flow 64.5089.92108.60-18.4599.6552.4449.2546.2543.4440.79
Capital Expenditure -23.16-25.63-20.17-14.98-18.79-16.27-15.28-14.35-13.48-12.66
Free Cash Flow 41.3464.2988.43-33.4380.8736.1733.9731.9029.9628.14
WACC
PV LFCF 33.0628.3824.3620.9117.95
SUM PV LFCF 124.65

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 9.41
Free cash flow (t + 1) 28.70
Terminal Value 387.29
Present Value of Terminal Value 247.03

Intrinsic Value

Enterprise Value 371.68
Net Debt -306.99
Equity Value 678.66
Shares Outstanding 88.27
Equity Value Per Share 7.69