Discounted Cash Flow (DCF) Analysis Levered

Derichebourg SA (DBG.PA)

4.28 €

-0.08 (-1.88%)
All numbers are in Millions, Currency in USD
Stock DCF: 36.42 | 4.28 | 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 2,735.402,924.302,708.202,465.603,620.303,958.714,328.764,733.395,175.855,659.67
Revenue (%)
Operating Cash Flow 180.90170.20165.10176.40325274.43300.08328.13358.80392.34
Operating Cash Flow (%)
Capital Expenditure -71.80-90.10-89.50-70.10-68.40-108.81-118.98-130.10-142.27-155.56
Capital Expenditure (%)
Free Cash Flow 109.1080.1075.60106.30256.60165.62181.10198.03216.54236.78

Weighted Average Cost Of Capital

Share price $ 4.28
Beta 1.676
Diluted Shares Outstanding 159.40
Cost of Debt
Tax Rate 29.41
After-tax Cost of Debt 1.20%
Risk-Free Rate
Market Risk Premium
Cost of Equity 11.876
Total Debt 983.20
Total Equity 682.22
Total Capital 1,665.42
Debt Weighting 59.04
Equity Weighting 40.96
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 2,735.402,924.302,708.202,465.603,620.303,958.714,328.764,733.395,175.855,659.67
Operating Cash Flow 180.90170.20165.10176.40325274.43300.08328.13358.80392.34
Capital Expenditure -71.80-90.10-89.50-70.10-68.40-108.81-118.98-130.10-142.27-155.56
Free Cash Flow 109.1080.1075.60106.30256.60165.62181.10198.03216.54236.78
WACC
PV LFCF 156.88162.49168.31174.33180.57
SUM PV LFCF 842.58

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.57
Free cash flow (t + 1) 241.52
Terminal Value 6,765.15
Present Value of Terminal Value 5,159.11

Intrinsic Value

Enterprise Value 6,001.69
Net Debt 195.70
Equity Value 5,805.99
Shares Outstanding 159.40
Equity Value Per Share 36.42