Discounted Cash Flow (DCF) Analysis Levered

Ceres Global Ag Corp. (CRP.TO)

$2.52

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: 56.95 | 2.52 | 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 411.12438.40581.71748.201,060.941,352.021,722.962,195.682,798.093,565.77
Revenue (%)
Operating Cash Flow 44.35-24.257.86-25.9454.4622.3728.5136.3346.3059.01
Operating Cash Flow (%)
Capital Expenditure -1.34-5.25-1.79-9.62-3.21-9.25-11.79-15.02-19.14-24.39
Capital Expenditure (%)
Free Cash Flow 43.01-29.506.07-35.5551.2513.1316.7321.3227.1634.62

Weighted Average Cost Of Capital

Share price $ 2.52
Beta 0.026
Diluted Shares Outstanding 30.04
Cost of Debt
Tax Rate -317.16
After-tax Cost of Debt 3.87%
Risk-Free Rate
Market Risk Premium
Cost of Equity 3.527
Total Debt 105.32
Total Equity 75.71
Total Capital 181.03
Debt Weighting 58.18
Equity Weighting 41.82
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 411.12438.40581.71748.201,060.941,352.021,722.962,195.682,798.093,565.77
Operating Cash Flow 44.35-24.257.86-25.9454.4622.3728.5136.3346.3059.01
Capital Expenditure -1.34-5.25-1.79-9.62-3.21-9.25-11.79-15.02-19.14-24.39
Free Cash Flow 43.01-29.506.07-35.5551.2513.1316.7321.3227.1634.62
WACC
PV LFCF 12.6515.5519.1023.4628.82
SUM PV LFCF 99.59

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 3.73
Free cash flow (t + 1) 35.31
Terminal Value 2,041.01
Present Value of Terminal Value 1,699.51

Intrinsic Value

Enterprise Value 1,799.09
Net Debt 88.11
Equity Value 1,710.99
Shares Outstanding 30.04
Equity Value Per Share 56.95