Discounted Cash Flow (DCF) Analysis Levered

Frey SA (FREY.PA)

26.8 €

+0.20 (+0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: 5,599.19 | 26.8 | undervalue

Free Cash Flow

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 56.6869.35107.2298.70124.10153.49189.84234.81290.42359.21
Revenue (%)
Operating Cash Flow -9.3728.6737.8451.5258.7749.0160.6274.9892.74114.71
Operating Cash Flow (%)
Capital Expenditure -60.51-117.60-83.16-9.26-5.12-112.79-139.50-172.54-213.41-263.96
Capital Expenditure (%)
Free Cash Flow -69.88-88.94-45.3242.2653.65-63.77-78.88-97.56-120.67-149.25

Weighted Average Cost Of Capital

Share price $ 26.8
Beta 0.003
Diluted Shares Outstanding 28.37
Cost of Debt
Tax Rate 11.08
After-tax Cost of Debt 3.70%
Risk-Free Rate
Market Risk Premium
Cost of Equity 4.173
Total Debt 877.76
Total Equity 760.23
Total Capital 1,637.99
Debt Weighting 53.59
Equity Weighting 46.41
Wacc

Build Up Free Cash Flow

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 56.6869.35107.2298.70124.10153.49189.84234.81290.42359.21
Operating Cash Flow -9.3728.6737.8451.5258.7749.0160.6274.9892.74114.71
Capital Expenditure -60.51-117.60-83.16-9.26-5.12-112.79-139.50-172.54-213.41-263.96
Free Cash Flow -69.88-88.94-45.3242.2653.65-63.77-78.88-97.56-120.67-149.25
WACC
PV LFCF -61.37-73.04-86.93-103.46-123.14
SUM PV LFCF -447.94

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 3.92
Free cash flow (t + 1) -155.22
Terminal Value 194,019.47
Present Value of Terminal Value 160,084.63

Intrinsic Value

Enterprise Value 159,636.69
Net Debt 805.70
Equity Value 158,830.99
Shares Outstanding 28.37
Equity Value Per Share 5,599.19