Discounted Cash Flow (DCF) Analysis Levered

Christian Dior SE (CDI.PA)

592.5 €

-3.00 (-0.50%)
All numbers are in Millions, Currency in USD
Stock DCF: 1,909.41 | 592.5 | 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 43,66646,82653,67044,53164,21572,085.7380,921.1690,839.53101,973.58114,472.32
Revenue (%)
Operating Cash Flow 7,1068,42011,71810,87318,63615,790.5817,72619,898.6522,337.5925,075.48
Operating Cash Flow (%)
Capital Expenditure -2,588-3,141-3,388-2,464-3,255-4,260.18-4,782.34-5,368.51-6,026.52-6,765.18
Capital Expenditure (%)
Free Cash Flow 4,5185,2798,3308,40915,38111,530.4012,943.6614,530.1416,311.0818,310.30

Weighted Average Cost Of Capital

Share price $ 592.5
Beta 1.009
Diluted Shares Outstanding 180.41
Cost of Debt
Tax Rate 71.24
After-tax Cost of Debt 0.20%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.415
Total Debt 34,531
Total Equity 106,893.27
Total Capital 141,424.27
Debt Weighting 24.42
Equity Weighting 75.58
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 43,66646,82653,67044,53164,21572,085.7380,921.1690,839.53101,973.58114,472.32
Operating Cash Flow 7,1068,42011,71810,87318,63615,790.5817,72619,898.6522,337.5925,075.48
Capital Expenditure -2,588-3,141-3,388-2,464-3,255-4,260.18-4,782.34-5,368.51-6,026.52-6,765.18
Free Cash Flow 4,5185,2798,3308,40915,38111,530.4012,943.6614,530.1416,311.0818,310.30
WACC
PV LFCF 10,835.8211,431.2112,059.3112,721.9313,420.95
SUM PV LFCF 60,469.21

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.41
Free cash flow (t + 1) 18,676.50
Terminal Value 423,503.50
Present Value of Terminal Value 310,416.49

Intrinsic Value

Enterprise Value 370,885.70
Net Debt 26,408
Equity Value 344,477.70
Shares Outstanding 180.41
Equity Value Per Share 1,909.41