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
Stock DCF: 95.01 | 4.096 | 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 2,972.203,774.303,779.304,115.104,282.404,711.395,183.355,702.596,273.856,902.33
Revenue (%)
Operating Cash Flow 266.10362424.20571.30398.20498.94548.92603.90664.40730.96
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 144.70246.60262423.60226.10319.51351.52386.73425.47468.09

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 2,972.203,774.303,779.304,115.104,282.404,711.395,183.355,702.596,273.856,902.33
Operating Cash Flow 266.10362424.20571.30398.20498.94548.92603.90664.40730.96
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 144.70246.60262423.60226.10319.51351.52386.73425.47468.09
WACC
PV LFCF 294.33310.79328.17346.53365.91
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