Discounted Cash Flow (DCF) Analysis Levered
Figeac Aero Société Anonyme (FGA.PA)
5.75 €
+0.22 (+3.98%)
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 | 324.73 | 372.01 | 427.96 | 446.71 | 204.65 | 194.31 | 184.49 | 175.17 | 166.33 | 157.92 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -9.84 | 35.32 | 85.64 | 65.85 | -14.33 | 13.30 | 12.62 | 11.99 | 11.38 | 10.81 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -88.96 | -75.15 | -84.41 | -66.72 | -29.88 | -37.64 | -35.74 | -33.93 | -32.22 | -30.59 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -98.80 | -39.84 | 1.22 | -0.88 | -44.21 | -24.35 | -23.12 | -21.95 | -20.84 | -19.79 |
Weighted Average Cost Of Capital
| Share price | $ 5.75 |
|---|---|
| Beta | 1.763 |
| Diluted Shares Outstanding | 31.57 |
| Cost of Debt | |
| Tax Rate | 3.59 |
| After-tax Cost of Debt | 1.73% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 11.148 |
| Total Debt | 407.94 |
| Total Equity | 181.55 |
| Total Capital | 589.48 |
| Debt Weighting | 69.20 |
| Equity Weighting | 30.80 |
| 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 | 324.73 | 372.01 | 427.96 | 446.71 | 204.65 | 194.31 | 184.49 | 175.17 | 166.33 | 157.92 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -9.84 | 35.32 | 85.64 | 65.85 | -14.33 | 13.30 | 12.62 | 11.99 | 11.38 | 10.81 |
| Capital Expenditure | -88.96 | -75.15 | -84.41 | -66.72 | -29.88 | -37.64 | -35.74 | -33.93 | -32.22 | -30.59 |
| Free Cash Flow | -98.80 | -39.84 | 1.22 | -0.88 | -44.21 | -24.35 | -23.12 | -21.95 | -20.84 | -19.79 |
| WACC | ||||||||||
| PV LFCF | -23.27 | -21.12 | -19.16 | -17.39 | -15.78 | |||||
| SUM PV LFCF | -96.71 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 4.63 |
| Free cash flow (t + 1) | -20.18 |
| Terminal Value | -767.38 |
| Present Value of Terminal Value | -611.97 |
Intrinsic Value
| Enterprise Value | -708.68 |
|---|---|
| Net Debt | 327.47 |
| Equity Value | -1,036.15 |
| Shares Outstanding | 31.57 |
| Equity Value Per Share | -32.82 |