Discounted Cash Flow (DCF) Analysis Levered
NV Bekaert SA (BEKB.BR)
39.42 €
+0.50 (+1.28%)
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 | 4,098.25 | 4,305.27 | 4,322.45 | 3,772.37 | 4,839.66 | 5,093.94 | 5,361.59 | 5,643.30 | 5,939.80 | 6,251.89 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 244.15 | 243.72 | 524.33 | 504.92 | 384.60 | 459.27 | 483.40 | 508.80 | 535.54 | 563.67 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -276.52 | -185 | -111.99 | -107.69 | -156.61 | -200.96 | -211.52 | -222.64 | -234.33 | -246.65 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | -32.37 | 58.72 | 412.34 | 397.23 | 228 | 258.31 | 271.88 | 286.17 | 301.20 | 317.03 |
Weighted Average Cost Of Capital
Share price | $ 39.42 |
---|---|
Beta | 1.647 |
Diluted Shares Outstanding | 64.13 |
Cost of Debt | |
Tax Rate | 14.55 |
After-tax Cost of Debt | 3.19% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 11.290 |
Total Debt | 1,191.32 |
Total Equity | 2,528.15 |
Total Capital | 3,719.47 |
Debt Weighting | 32.03 |
Equity Weighting | 67.97 |
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 | 4,098.25 | 4,305.27 | 4,322.45 | 3,772.37 | 4,839.66 | 5,093.94 | 5,361.59 | 5,643.30 | 5,939.80 | 6,251.89 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 244.15 | 243.72 | 524.33 | 504.92 | 384.60 | 459.27 | 483.40 | 508.80 | 535.54 | 563.67 |
Capital Expenditure | -276.52 | -185 | -111.99 | -107.69 | -156.61 | -200.96 | -211.52 | -222.64 | -234.33 | -246.65 |
Free Cash Flow | -32.37 | 58.72 | 412.34 | 397.23 | 228 | 258.31 | 271.88 | 286.17 | 301.20 | 317.03 |
WACC | ||||||||||
PV LFCF | 218.66 | 211.74 | 205.05 | 198.57 | 192.29 | |||||
SUM PV LFCF | 1,115.49 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 8.69 |
Free cash flow (t + 1) | 323.37 |
Terminal Value | 4,833.59 |
Present Value of Terminal Value | 3,186.56 |
Intrinsic Value
Enterprise Value | 4,302.05 |
---|---|
Net Debt | 514.05 |
Equity Value | 3,788 |
Shares Outstanding | 64.13 |
Equity Value Per Share | 59.06 |