Discounted Cash Flow (DCF) Analysis Levered
Ellomay Capital Ltd. (ELLO)
$16.95
+1.09 (+6.87%)
All numbers are in Millions, Currency in USD
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 | 13.64 | 18.12 | 18.99 | 9.64 | 44.78 | 84.28 | 158.61 | 298.49 | 561.75 | 1,057.17 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 2.30 | 6.59 | 3.71 | -5.83 | 15.24 | 7.83 | 14.74 | 27.73 | 52.19 | 98.22 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -7.58 | -3.71 | -74.59 | -128.42 | -82.81 | -334.62 | -629.74 | -1,185.14 | -2,230.38 | -4,197.44 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -5.27 | 2.88 | -70.87 | -134.25 | -67.57 | -326.79 | -615.01 | -1,157.41 | -2,178.18 | -4,099.22 |
Weighted Average Cost Of Capital
| Share price | $ 16.95 |
|---|---|
| Beta | 1.071 |
| Diluted Shares Outstanding | 12.84 |
| Cost of Debt | |
| Tax Rate | 32.28 |
| After-tax Cost of Debt | 2.02% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.730 |
| Total Debt | 376.32 |
| Total Equity | 217.64 |
| Total Capital | 593.96 |
| Debt Weighting | 63.36 |
| Equity Weighting | 36.64 |
| 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 | 13.64 | 18.12 | 18.99 | 9.64 | 44.78 | 84.28 | 158.61 | 298.49 | 561.75 | 1,057.17 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 2.30 | 6.59 | 3.71 | -5.83 | 15.24 | 7.83 | 14.74 | 27.73 | 52.19 | 98.22 |
| Capital Expenditure | -7.58 | -3.71 | -74.59 | -128.42 | -82.81 | -334.62 | -629.74 | -1,185.14 | -2,230.38 | -4,197.44 |
| Free Cash Flow | -5.27 | 2.88 | -70.87 | -134.25 | -67.57 | -326.79 | -615.01 | -1,157.41 | -2,178.18 | -4,099.22 |
| WACC | ||||||||||
| PV LFCF | -312.78 | -563.40 | -1,014.82 | -1,827.94 | -3,292.57 | |||||
| SUM PV LFCF | -7,011.51 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 4.48 |
| Free cash flow (t + 1) | -4,181.21 |
| Terminal Value | -168,597.02 |
| Present Value of Terminal Value | -135,420.40 |
Intrinsic Value
| Enterprise Value | -142,431.91 |
|---|---|
| Net Debt | 335.09 |
| Equity Value | -142,767.01 |
| Shares Outstanding | 12.84 |
| Equity Value Per Share | -11,118.93 |