Discounted Cash Flow (DCF) Analysis Levered

Campine NV (CAMB.BR)

43 €

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: 0.75 | 43 | overvalue

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 216.50210.26192.53166.95226.32232.52238.89245.43252.16259.07
Revenue (%)
Operating Cash Flow 5.0916.4614.853.356.6310.6210.9111.2111.5111.83
Operating Cash Flow (%)
Capital Expenditure -3.23-5.83-5.57-8.60-8.38-7.45-7.65-7.86-8.07-8.30
Capital Expenditure (%)
Free Cash Flow 1.8610.639.28-5.25-1.743.173.263.353.443.53

Weighted Average Cost Of Capital

Share price $ 43
Beta 0.599
Diluted Shares Outstanding 79.87
Cost of Debt
Tax Rate 24.79
After-tax Cost of Debt 2.11%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.516
Total Debt 12.32
Total Equity 3,434.30
Total Capital 3,446.62
Debt Weighting 0.36
Equity Weighting 99.64
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 216.50210.26192.53166.95226.32232.52238.89245.43252.16259.07
Operating Cash Flow 5.0916.4614.853.356.6310.6210.9111.2111.5111.83
Capital Expenditure -3.23-5.83-5.57-8.60-8.38-7.45-7.65-7.86-8.07-8.30
Free Cash Flow 1.8610.639.28-5.25-1.743.173.263.353.443.53
WACC
PV LFCF 2.172.102.021.951.88
SUM PV LFCF 13.87

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.50
Free cash flow (t + 1) 3.60
Terminal Value 80.09
Present Value of Terminal Value 58.45

Intrinsic Value

Enterprise Value 72.33
Net Debt 12.17
Equity Value 60.16
Shares Outstanding 79.87
Equity Value Per Share 0.75