Discounted Cash Flow (DCF) Analysis Levered

Construcciones y Auxiliar de Ferroc... (CAF.MC)

27.35 €

+0.05 (+0.18%)
All numbers are in Millions, Currency in USD
Stock DCF: 296.02 | 27.35 | 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 1,477.042,048.422,597.652,762.472,942.683,519.204,208.655,033.186,019.257,198.50
Revenue (%)
Operating Cash Flow 165.06389.33128.78177.15153.55329.18393.67470.80563.03673.34
Operating Cash Flow (%)
Capital Expenditure -51.25-90.59-72.26-49.30-44.59-98.36-117.62-140.67-168.23-201.18
Capital Expenditure (%)
Free Cash Flow 113.80298.7456.52127.85108.96230.83276.05330.13394.80472.15

Weighted Average Cost Of Capital

Share price $ 27.35
Beta 1.192
Diluted Shares Outstanding 34.23
Cost of Debt
Tax Rate 33.82
After-tax Cost of Debt 2.80%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.327
Total Debt 1,014.78
Total Equity 936.22
Total Capital 1,951
Debt Weighting 52.01
Equity Weighting 47.99
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 1,477.042,048.422,597.652,762.472,942.683,519.204,208.655,033.186,019.257,198.50
Operating Cash Flow 165.06389.33128.78177.15153.55329.18393.67470.80563.03673.34
Capital Expenditure -51.25-90.59-72.26-49.30-44.59-98.36-117.62-140.67-168.23-201.18
Free Cash Flow 113.80298.7456.52127.85108.96230.83276.05330.13394.80472.15
WACC
PV LFCF 217.90246.01277.73313.55353.99
SUM PV LFCF 1,409.18

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.93
Free cash flow (t + 1) 481.60
Terminal Value 12,254.33
Present Value of Terminal Value 9,187.45

Intrinsic Value

Enterprise Value 10,596.63
Net Debt 463.40
Equity Value 10,133.22
Shares Outstanding 34.23
Equity Value Per Share 296.02