Discounted Cash Flow (DCF) Analysis Levered
Finatis Société Anonyme (FNTS.PA)
9.25 €
+0.45 (+5.11%)
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 | 38,642 | 37,507 | 34,663 | 31,928 | 30,566 | 28,833.22 | 27,198.67 | 25,656.79 | 24,202.31 | 22,830.28 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 1,507 | 1,533 | 1,140 | 2,198 | 1,651 | 1,358.71 | 1,281.69 | 1,209.03 | 1,140.49 | 1,075.84 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -1,331 | -1,213 | -1,119 | -928 | -1,133 | -952.65 | -898.64 | -847.70 | -799.64 | -754.31 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 176 | 320 | 21 | 1,270 | 518 | 406.06 | 383.05 | 361.33 | 340.85 | 321.52 |
Weighted Average Cost Of Capital
Share price | $ 9.25 |
---|---|
Beta | 0.259 |
Diluted Shares Outstanding | 107.49 |
Cost of Debt | |
Tax Rate | 39.86 |
After-tax Cost of Debt | 3.19% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 4.722 |
Total Debt | 17,035 |
Total Equity | 994.25 |
Total Capital | 18,029.25 |
Debt Weighting | 94.49 |
Equity Weighting | 5.51 |
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 | 38,642 | 37,507 | 34,663 | 31,928 | 30,566 | 28,833.22 | 27,198.67 | 25,656.79 | 24,202.31 | 22,830.28 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 1,507 | 1,533 | 1,140 | 2,198 | 1,651 | 1,358.71 | 1,281.69 | 1,209.03 | 1,140.49 | 1,075.84 |
Capital Expenditure | -1,331 | -1,213 | -1,119 | -928 | -1,133 | -952.65 | -898.64 | -847.70 | -799.64 | -754.31 |
Free Cash Flow | 176 | 320 | 21 | 1,270 | 518 | 406.06 | 383.05 | 361.33 | 340.85 | 321.52 |
WACC | ||||||||||
PV LFCF | 393.17 | 359.10 | 327.99 | 299.57 | 273.61 | |||||
SUM PV LFCF | 1,653.43 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 3.28 |
Free cash flow (t + 1) | 327.95 |
Terminal Value | 25,621.46 |
Present Value of Terminal Value | 21,803.32 |
Intrinsic Value
Enterprise Value | 23,456.76 |
---|---|
Net Debt | 14,711 |
Equity Value | 8,745.76 |
Shares Outstanding | 107.49 |
Equity Value Per Share | 81.37 |