Discounted Cash Flow (DCF) Analysis Levered
Brunel International N.V. (BRNL.AS)
11.98 €
-0.24 (-1.96%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 914.58 | 1,041.12 | 892.57 | 899.67 | 1,181.82 | 1,275.56 | 1,376.72 | 1,485.92 | 1,603.77 | 1,730.96 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | -5.99 | 20.01 | 92.59 | 16.72 | 26.33 | 40.12 | 43.30 | 46.74 | 50.44 | 54.44 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -7.23 | -6.55 | -7.21 | -6.54 | -11.27 | -9.97 | -10.76 | -11.61 | -12.53 | -13.53 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | -13.22 | 13.46 | 85.38 | 10.18 | 15.06 | 30.15 | 32.54 | 35.12 | 37.91 | 40.92 |
Weighted Average Cost Of Capital
Share price | $ 11.98 |
---|---|
Beta | 1.213 |
Diluted Shares Outstanding | 50.54 |
Cost of Debt | |
Tax Rate | 38.13 |
After-tax Cost of Debt | 1.13% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 9.512 |
Total Debt | 64.26 |
Total Equity | 605.45 |
Total Capital | 669.71 |
Debt Weighting | 9.60 |
Equity Weighting | 90.40 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 914.58 | 1,041.12 | 892.57 | 899.67 | 1,181.82 | 1,275.56 | 1,376.72 | 1,485.92 | 1,603.77 | 1,730.96 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | -5.99 | 20.01 | 92.59 | 16.72 | 26.33 | 40.12 | 43.30 | 46.74 | 50.44 | 54.44 |
Capital Expenditure | -7.23 | -6.55 | -7.21 | -6.54 | -11.27 | -9.97 | -10.76 | -11.61 | -12.53 | -13.53 |
Free Cash Flow | -13.22 | 13.46 | 85.38 | 10.18 | 15.06 | 30.15 | 32.54 | 35.12 | 37.91 | 40.92 |
WACC | ||||||||||
PV LFCF | 18.27 | 18.14 | 18.01 | 17.88 | 17.75 | |||||
SUM PV LFCF | 136.71 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 8.71 |
Free cash flow (t + 1) | 41.73 |
Terminal Value | 621.98 |
Present Value of Terminal Value | 409.67 |
Intrinsic Value
Enterprise Value | 546.37 |
---|---|
Net Debt | 20.50 |
Equity Value | 525.87 |
Shares Outstanding | 50.54 |
Equity Value Per Share | 10.41 |