Discounted Cash Flow (DCF) Analysis Levered

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

8.5 €

-0.05 (-0.58%)
All numbers are in Millions, Currency in USD
Stock DCF: 28.58 | 8.5 | 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 17.8618.0915.8417.4517.1817.0716.9616.8516.7416.63
Revenue (%)
Operating Cash Flow 6.7314.195.988.4314.029.699.639.569.509.44
Operating Cash Flow (%)
Capital Expenditure 10.4811.240.04-4.174.174.154.124.094.074.04
Capital Expenditure (%)
Free Cash Flow 17.2125.446.014.2618.1913.8313.7513.6613.5713.48

Weighted Average Cost Of Capital

Share price $ 8.5
Beta 0.752
Diluted Shares Outstanding 11.97
Cost of Debt
Tax Rate 0.09
After-tax Cost of Debt 2.96%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.353
Total Debt 192.25
Total Equity 101.73
Total Capital 293.97
Debt Weighting 65.40
Equity Weighting 34.60
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 17.8618.0915.8417.4517.1817.0716.9616.8516.7416.63
Operating Cash Flow 6.7314.195.988.4314.029.699.639.569.509.44
Capital Expenditure 10.4811.240.04-4.174.174.154.124.094.074.04
Free Cash Flow 17.2125.446.014.2618.1913.8313.7513.6613.5713.48
WACC
PV LFCF 13.2412.5911.9811.3910.83
SUM PV LFCF 60.03

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.48
Free cash flow (t + 1) 13.75
Terminal Value 554.58
Present Value of Terminal Value 445.45

Intrinsic Value

Enterprise Value 505.47
Net Debt 163.39
Equity Value 342.08
Shares Outstanding 11.97
Equity Value Per Share 28.58