Discounted Cash Flow (DCF) Analysis Levered

Constellium SE (CSTM)

$19.39

+0.61 (+3.25%)
All numbers are in Millions, Currency in USD
Stock DCF: 15.37 | 19.39 | overvalue

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 5,9074,8836,1528,1207,2397,778.178,357.508,979.989,648.8210,367.48
Revenue (%)
Operating Cash Flow 447334357451506509.54547.49588.27632.08679.16
Operating Cash Flow (%)
Capital Expenditure -271-182-232-273-337-312.74-336.03-361.06-387.95-416.85
Capital Expenditure (%)
Free Cash Flow 176152125178169196.80211.46227.21244.13262.32

Weighted Average Cost Of Capital

Share price $ 19.39
Beta 2.013
Diluted Shares Outstanding 149.24
Cost of Debt
Tax Rate 36.22
After-tax Cost of Debt 3.19%
Risk-Free Rate
Market Risk Premium
Cost of Equity 13.763
Total Debt -
Total Equity 2,893.69
Total Capital 2,893.69
Debt Weighting 0.00
Equity Weighting 100.00
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 5,9074,8836,1528,1207,2397,778.178,357.508,979.989,648.8210,367.48
Operating Cash Flow 447334357451506509.54547.49588.27632.08679.16
Capital Expenditure -271-182-232-273-337-312.74-336.03-361.06-387.95-416.85
Free Cash Flow 176152125178169196.80211.46227.21244.13262.32
WACC
PV LFCF 173163.40154.33145.77137.68
SUM PV LFCF 774.18

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 13.76
Free cash flow (t + 1) 270.19
Terminal Value 2,511.02
Present Value of Terminal Value 1,317.96

Intrinsic Value

Enterprise Value 2,092.14
Net Debt -202
Equity Value 2,294.14
Shares Outstanding 149.24
Equity Value Per Share 15.37