Discounted Cash Flow (DCF) Analysis Levered
Carmila S.A. (CARM.PA)
17.18 €
+0.36 (+2.14%)
All numbers are in Millions, Currency in USD
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 | 300.91 | 340.25 | 438.82 | 429.36 | 429.48 | 472.34 | 519.47 | 571.31 | 628.32 | 691.02 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 263.99 | 242.12 | 281.62 | 168.07 | 257.86 | 304.42 | 334.80 | 368.21 | 404.95 | 445.36 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -279.01 | -552.74 | -115.38 | -402.84 | -402.95 | -443.16 | -487.38 | -536.01 | -589.50 | -648.32 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -15.02 | -310.62 | 166.24 | -234.77 | -145.09 | -138.73 | -152.58 | -167.80 | -184.55 | -202.97 |
Weighted Average Cost Of Capital
| Share price | $ 17.18 |
|---|---|
| Beta | 1.788 |
| Diluted Shares Outstanding | 140.60 |
| Cost of Debt | |
| Tax Rate | -19.70 |
| After-tax Cost of Debt | 2.01% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 11.287 |
| Total Debt | 2,600.43 |
| Total Equity | 2,415.57 |
| Total Capital | 5,016 |
| Debt Weighting | 51.84 |
| Equity Weighting | 48.16 |
| 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 | 300.91 | 340.25 | 438.82 | 429.36 | 429.48 | 472.34 | 519.47 | 571.31 | 628.32 | 691.02 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 263.99 | 242.12 | 281.62 | 168.07 | 257.86 | 304.42 | 334.80 | 368.21 | 404.95 | 445.36 |
| Capital Expenditure | -279.01 | -552.74 | -115.38 | -402.84 | -402.95 | -443.16 | -487.38 | -536.01 | -589.50 | -648.32 |
| Free Cash Flow | -15.02 | -310.62 | 166.24 | -234.77 | -145.09 | -138.73 | -152.58 | -167.80 | -184.55 | -202.97 |
| WACC | ||||||||||
| PV LFCF | -114.92 | -118.69 | -122.59 | -126.62 | -130.78 | |||||
| SUM PV LFCF | -695.70 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 6.48 |
| Free cash flow (t + 1) | -207.02 |
| Terminal Value | -4,621.08 |
| Present Value of Terminal Value | -3,376.01 |
Intrinsic Value
| Enterprise Value | -4,071.71 |
|---|---|
| Net Debt | 2,362.16 |
| Equity Value | -6,433.87 |
| Shares Outstanding | 140.60 |
| Equity Value Per Share | -45.76 |