Discounted Cash Flow (DCF) Analysis Levered

EPC Groupe (EXPL.PA)

64.5 €

+0.50 (+0.78%)
All numbers are in Millions, Currency in USD
Stock DCF: 315.78 | 64.5 | undervalue

Free Cash Flow

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 310.01329.09322.54345.05338.54346.37354.39362.59370.98379.57
Revenue (%)
Operating Cash Flow 14.8721.6118.2021.5940.3124.3624.9325.5026.0926.70
Operating Cash Flow (%)
Capital Expenditure -8.84-14.93-14.98-19.31-16.60-15.61-15.97-16.34-16.72-17.10
Capital Expenditure (%)
Free Cash Flow 6.036.693.222.2823.718.758.969.169.389.59

Weighted Average Cost Of Capital

Share price $ 64.5
Beta 0.234
Diluted Shares Outstanding 1.55
Cost of Debt
Tax Rate -43.30
After-tax Cost of Debt 3.17%
Risk-Free Rate
Market Risk Premium
Cost of Equity 3.954
Total Debt 95.22
Total Equity 99.74
Total Capital 194.97
Debt Weighting 48.84
Equity Weighting 51.16
Wacc

Build Up Free Cash Flow

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 310.01329.09322.54345.05338.54346.37354.39362.59370.98379.57
Operating Cash Flow 14.8721.6118.2021.5940.3124.3624.9325.5026.0926.70
Capital Expenditure -8.84-14.93-14.98-19.31-16.60-15.61-15.97-16.34-16.72-17.10
Free Cash Flow 6.036.693.222.2823.718.758.969.169.389.59
WACC
PV LFCF 8.458.358.258.158.05
SUM PV LFCF 41.25

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 3.57
Free cash flow (t + 1) 9.78
Terminal Value 623.23
Present Value of Terminal Value 522.97

Intrinsic Value

Enterprise Value 564.22
Net Debt 75.89
Equity Value 488.33
Shares Outstanding 1.55
Equity Value Per Share 315.78