Discounted Cash Flow (DCF) Analysis Levered

Société Centrale des Bois et des Sc... (CBSM.PA)

8.9 €

+0.25 (+0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: 18.30 | 8.9 | undervalue

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 15.8417.4517.1818.7620.0721.3222.6424.0425.5327.12
Revenue (%)
Operating Cash Flow 5.988.4314.0211.299.0211.6312.3513.1213.9314.79
Operating Cash Flow (%)
Capital Expenditure 0.04-4.17-2.03-2.22-2.37-2.52-2.68-2.84-3.02-3.21
Capital Expenditure (%)
Free Cash Flow 6.014.2611.999.076.659.119.6710.2710.9111.59

Weighted Average Cost Of Capital

Share price $ 8.9
Beta 0.784
Diluted Shares Outstanding 13.04
Cost of Debt
Tax Rate 0.01
After-tax Cost of Debt 4.28%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.985
Total Debt 214.18
Total Equity 116.01
Total Capital 330.20
Debt Weighting 64.87
Equity Weighting 35.13
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 15.8417.4517.1818.7620.0721.3222.6424.0425.5327.12
Operating Cash Flow 5.988.4314.0211.299.0211.6312.3513.1213.9314.79
Capital Expenditure 0.04-4.17-2.03-2.22-2.37-2.52-2.68-2.84-3.02-3.21
Free Cash Flow 6.014.2611.999.076.659.119.6710.2710.9111.59
WACC
PV LFCF 8.638.688.738.788.83
SUM PV LFCF 43.64

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.58
Free cash flow (t + 1) 11.94
Terminal Value 481.64
Present Value of Terminal Value 367.13

Intrinsic Value

Enterprise Value 410.77
Net Debt 172.19
Equity Value 238.58
Shares Outstanding 13.04
Equity Value Per Share 18.30