Discounted Cash Flow (DCF) Analysis Levered

Caisse Régionale de Crédit Agricole... (CRBP2.PA)

18.6 €

+0.05 (+0.27%)
All numbers are in Millions, Currency in USD
Stock DCF: 142.53 | 18.6 | 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 597.19577.15582.82521.50633.88647.60661.61675.93690.56705.50
Revenue (%)
Operating Cash Flow 759645.54-567.54768.751,601.44701.50716.68732.19748.04764.22
Operating Cash Flow (%)
Capital Expenditure -20.94-30.27-24.57-28.90-18.92-27.84-28.44-29.06-29.68-30.33
Capital Expenditure (%)
Free Cash Flow 738.06615.28-592.11739.851,582.52673.66688.24703.14718.35733.90

Weighted Average Cost Of Capital

Share price $ 18.6
Beta 0.758
Diluted Shares Outstanding 31.43
Cost of Debt
Tax Rate 23.18
After-tax Cost of Debt 18.86%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.401
Total Debt 1,069.12
Total Equity 584.55
Total Capital 1,653.67
Debt Weighting 64.65
Equity Weighting 35.35
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 597.19577.15582.82521.50633.88647.60661.61675.93690.56705.50
Operating Cash Flow 759645.54-567.54768.751,601.44701.50716.68732.19748.04764.22
Capital Expenditure -20.94-30.27-24.57-28.90-18.92-27.84-28.44-29.06-29.68-30.33
Free Cash Flow 738.06615.28-592.11739.851,582.52673.66688.24703.14718.35733.90
WACC
PV LFCF 588.56525.33468.90418.53373.57
SUM PV LFCF 2,374.88

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 14.46
Free cash flow (t + 1) 748.57
Terminal Value 6,007.82
Present Value of Terminal Value 3,058.08

Intrinsic Value

Enterprise Value 5,432.96
Net Debt 953.69
Equity Value 4,479.27
Shares Outstanding 31.43
Equity Value Per Share 142.53