Discounted Cash Flow (DCF) Analysis Levered
bpost NV/SA (BPOST.BR)
4.096 €
+0.06 (+1.54%)
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 | 2,972.20 | 3,774.30 | 3,779.30 | 4,115.10 | 4,282.40 | 4,711.39 | 5,183.35 | 5,702.59 | 6,273.85 | 6,902.33 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 266.10 | 362 | 424.20 | 571.30 | 398.20 | 498.94 | 548.92 | 603.90 | 664.40 | 730.96 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -121.40 | -115.40 | -162.20 | -147.70 | -172.10 | -179.43 | -197.40 | -217.18 | -238.93 | -262.87 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 144.70 | 246.60 | 262 | 423.60 | 226.10 | 319.51 | 351.52 | 386.73 | 425.47 | 468.09 |
Weighted Average Cost Of Capital
Share price | $ 4.096 |
---|---|
Beta | 1.187 |
Diluted Shares Outstanding | 200 |
Cost of Debt | |
Tax Rate | 24.81 |
After-tax Cost of Debt | 1.16% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 9.301 |
Total Debt | 1,377.60 |
Total Equity | 819.20 |
Total Capital | 2,196.80 |
Debt Weighting | 62.71 |
Equity Weighting | 37.29 |
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 | 2,972.20 | 3,774.30 | 3,779.30 | 4,115.10 | 4,282.40 | 4,711.39 | 5,183.35 | 5,702.59 | 6,273.85 | 6,902.33 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 266.10 | 362 | 424.20 | 571.30 | 398.20 | 498.94 | 548.92 | 603.90 | 664.40 | 730.96 |
Capital Expenditure | -121.40 | -115.40 | -162.20 | -147.70 | -172.10 | -179.43 | -197.40 | -217.18 | -238.93 | -262.87 |
Free Cash Flow | 144.70 | 246.60 | 262 | 423.60 | 226.10 | 319.51 | 351.52 | 386.73 | 425.47 | 468.09 |
WACC | ||||||||||
PV LFCF | 294.33 | 310.79 | 328.17 | 346.53 | 365.91 | |||||
SUM PV LFCF | 1,714.68 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 4.19 |
Free cash flow (t + 1) | 477.45 |
Terminal Value | 21,801.49 |
Present Value of Terminal Value | 17,756.45 |
Intrinsic Value
Enterprise Value | 19,471.13 |
---|---|
Net Debt | 470.10 |
Equity Value | 19,001.03 |
Shares Outstanding | 200 |
Equity Value Per Share | 95.01 |