Discounted Cash Flow (DCF) Analysis Levered

Corporación América Airports S.A. (CAAP)

$14.06

-0.17 (-1.19%)
Financial Summary
Financial Statements
Quarter Financials
Chart
Financial Ratios
Profile
Historical Data
DCFDCF Levered
All numbers are in Millions, Currency in USD
Stock DCF: 5.66 | 14.06 | overvalue

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 1,426.101,558.64607.36706.901,378.701,584.421,820.842,092.532,404.762,763.59
Revenue (%)
Operating Cash Flow 191.66-19.710.84107.96302.63156.97180.39207.31238.24273.79
Operating Cash Flow (%)
Capital Expenditure -15.90-18.08-9.53-8.52-9.82-18.25-20.98-24.11-27.70-31.84
Capital Expenditure (%)
Free Cash Flow 175.76-37.79-8.6999.44292.81138.72159.41183.20210.54241.95

Weighted Average Cost Of Capital

Share price $ 14.06
Beta 1.988
Diluted Shares Outstanding 160.83
Cost of Debt
Tax Rate 11.73
After-tax Cost of Debt 9.83%
Risk-Free Rate
Market Risk Premium
Cost of Equity 13.823
Total Debt 1,474.25
Total Equity 2,261.22
Total Capital 3,735.47
Debt Weighting 39.47
Equity Weighting 60.53
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 1,426.101,558.64607.36706.901,378.701,584.421,820.842,092.532,404.762,763.59
Operating Cash Flow 191.66-19.710.84107.96302.63156.97180.39207.31238.24273.79
Capital Expenditure -15.90-18.08-9.53-8.52-9.82-18.25-20.98-24.11-27.70-31.84
Free Cash Flow 175.76-37.79-8.6999.44292.81138.72159.41183.20210.54241.95
WACC
PV LFCF 123.58126.52129.53132.61135.77
SUM PV LFCF 648

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 12.25
Free cash flow (t + 1) 246.79
Terminal Value 2,407.70
Present Value of Terminal Value 1,351.05

Intrinsic Value

Enterprise Value 1,999.05
Net Debt 1,088.98
Equity Value 910.07
Shares Outstanding 160.83
Equity Value Per Share 5.66