Discounted Cash Flow (DCF) Analysis Levered

bioMérieux S.A. (BIM.PA)

100.1 €

-0.40 (-0.40%)
All numbers are in Millions, Currency in USD
Stock DCF: 434.50 | 100.1 | undervalue

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 2,288.202,386.502,634.103,067.603,376.203,723.854,107.304,530.234,996.715,511.22
Revenue (%)
Operating Cash Flow 357.50386.90407.90582.80811.10672.85742.14818.55902.84995.81
Operating Cash Flow (%)
Capital Expenditure -183.50-226.80-272.50-277.50-290.10-338.92-373.82-412.31-454.77-501.59
Capital Expenditure (%)
Free Cash Flow 174160.10135.40305.30521333.93368.32406.24448.07494.21

Weighted Average Cost Of Capital

Share price $ 100.1
Beta -0.005
Diluted Shares Outstanding 118.15
Cost of Debt
Tax Rate 22.30
After-tax Cost of Debt 1.20%
Risk-Free Rate
Market Risk Premium
Cost of Equity 2.957
Total Debt 462.50
Total Equity 11,826.47
Total Capital 12,288.97
Debt Weighting 3.76
Equity Weighting 96.24
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 2,288.202,386.502,634.103,067.603,376.203,723.854,107.304,530.234,996.715,511.22
Operating Cash Flow 357.50386.90407.90582.80811.10672.85742.14818.55902.84995.81
Capital Expenditure -183.50-226.80-272.50-277.50-290.10-338.92-373.82-412.31-454.77-501.59
Free Cash Flow 174160.10135.40305.30521333.93368.32406.24448.07494.21
WACC
PV LFCF 306.58328.65352.31377.67404.86
SUM PV LFCF 1,873.85

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 2.89
Free cash flow (t + 1) 504.10
Terminal Value 56,640.18
Present Value of Terminal Value 49,120.05

Intrinsic Value

Enterprise Value 50,993.89
Net Debt -341
Equity Value 51,334.89
Shares Outstanding 118.15
Equity Value Per Share 434.50