Discounted Cash Flow (DCF) Analysis Levered

Compagnie d'Entreprises CFE SA (CFEB.BR)

9.74 €

+0.23 (+2.42%)
All numbers are in Millions, Currency in USD
Stock DCF: 11.49 | 9.74 | 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 3,640.633,624.723,221.961,125.351,167.22954.50780.54638.29521.96426.83
Revenue (%)
Operating Cash Flow 224.48443.96418.33456.5469.89148.81121.6999.5181.3866.55
Operating Cash Flow (%)
Capital Expenditure -453.48-451.49-401.33-140.17-145.39-118.89-97.22-79.50-65.01-53.17
Capital Expenditure (%)
Free Cash Flow -228.99-7.5417.01316.36-75.4929.9224.4720.0116.3613.38

Weighted Average Cost Of Capital

Share price $ 9.74
Beta 1.629
Diluted Shares Outstanding 25.31
Cost of Debt
Tax Rate -384.39
After-tax Cost of Debt 5.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 11.425
Total Debt -
Total Equity 246.56
Total Capital 246.56
Debt Weighting 0.00
Equity Weighting 100.00
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 3,640.633,624.723,221.961,125.351,167.22954.50780.54638.29521.96426.83
Operating Cash Flow 224.48443.96418.33456.5469.89148.81121.6999.5181.3866.55
Capital Expenditure -453.48-451.49-401.33-140.17-145.39-118.89-97.22-79.50-65.01-53.17
Free Cash Flow -228.99-7.5417.01316.36-75.4929.9224.4720.0116.3613.38
WACC
PV LFCF 26.8619.7114.4710.627.79
SUM PV LFCF 79.44

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 11.42
Free cash flow (t + 1) 13.65
Terminal Value 144.89
Present Value of Terminal Value 84.38

Intrinsic Value

Enterprise Value 163.82
Net Debt -127.15
Equity Value 290.97
Shares Outstanding 25.31
Equity Value Per Share 11.49