Discounted Cash Flow (DCF) Analysis Levered

Galp Energia, SGPS, S.A. (GALP.LS)

11.67 €

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: 1.43 | 11.67 | overvalue

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 15,20417,18216,56011,38916,11116,901.4417,730.6618,600.5719,513.1520,470.51
Revenue (%)
Operating Cash Flow ----1,0521,103.611,157.761,214.561,274.151,336.66
Operating Cash Flow (%)
Capital Expenditure -791-1,110-1,111-649-779-977.09-1,025.03-1,075.32-1,128.07-1,183.42
Capital Expenditure (%)
Free Cash Flow -791-1,110-1,111-649273126.53132.73139.25146.08153.24

Weighted Average Cost Of Capital

Share price $ 11.67
Beta 0.889
Diluted Shares Outstanding 834.85
Cost of Debt
Tax Rate 99.53
After-tax Cost of Debt 0.01%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.764
Total Debt 5,479
Total Equity 9,742.68
Total Capital 15,221.68
Debt Weighting 35.99
Equity Weighting 64.01
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 15,20417,18216,56011,38916,11116,901.4417,730.6618,600.5719,513.1520,470.51
Operating Cash Flow ----1,0521,103.611,157.761,214.561,274.151,336.66
Capital Expenditure -791-1,110-1,111-649-779-977.09-1,025.03-1,075.32-1,128.07-1,183.42
Free Cash Flow -791-1,110-1,111-649273126.53132.73139.25146.08153.24
WACC
PV LFCF 120.54120.46120.39120.32120.24
SUM PV LFCF 601.94

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.97
Free cash flow (t + 1) 156.31
Terminal Value 5,262.94
Present Value of Terminal Value 4,129.54

Intrinsic Value

Enterprise Value 4,731.49
Net Debt 3,537
Equity Value 1,194.49
Shares Outstanding 834.85
Equity Value Per Share 1.43