Discounted Cash Flow (DCF) Analysis Levered

PTT Global Chemical Public Company ... (GCB.F)

0.87 €

-0.02 (-2.25%)
All numbers are in Millions, Currency in USD
Stock DCF: 398.21 | 0.87 | 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 518,654.74412,810.23329,291.17468,953.18683,953.68765,379.20856,498.52958,465.721,072,572.231,200,263.26
Revenue (%)
Operating Cash Flow 53,629.0130,175.0422,145.7668,649.88-3,426.4758,954.0265,972.5773,826.6882,615.8492,451.36
Operating Cash Flow (%)
Capital Expenditure -27,172.49-40,816.93-25,059.29-16,074.14-21,371.88-44,834.54-50,172.14-56,145.20-62,829.35-70,309.26
Capital Expenditure (%)
Free Cash Flow 26,456.52-10,641.89-2,913.5352,575.74-24,798.3514,119.4915,800.4317,681.4919,786.4922,142.10

Weighted Average Cost Of Capital

Share price $ 0.87
Beta 1.229
Diluted Shares Outstanding 4,508.85
Cost of Debt
Tax Rate 11.67
After-tax Cost of Debt 2.88%
Risk-Free Rate
Market Risk Premium
Cost of Equity 10.437
Total Debt 301,854.18
Total Equity 3,922.70
Total Capital 305,776.88
Debt Weighting 98.72
Equity Weighting 1.28
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 518,654.74412,810.23329,291.17468,953.18683,953.68765,379.20856,498.52958,465.721,072,572.231,200,263.26
Operating Cash Flow 53,629.0130,175.0422,145.7668,649.88-3,426.4758,954.0265,972.5773,826.6882,615.8492,451.36
Capital Expenditure -27,172.49-40,816.93-25,059.29-16,074.14-21,371.88-44,834.54-50,172.14-56,145.20-62,829.35-70,309.26
Free Cash Flow 26,456.52-10,641.89-2,913.5352,575.74-24,798.3514,119.4915,800.4317,681.4919,786.4922,142.10
WACC
PV LFCF 13,710.9014,899.2016,190.5017,593.7019,118.52
SUM PV LFCF 81,512.82

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 2.98
Free cash flow (t + 1) 22,584.94
Terminal Value 2,304,585.56
Present Value of Terminal Value 1,989,886.93

Intrinsic Value

Enterprise Value 2,071,399.75
Net Debt 275,914.18
Equity Value 1,795,485.58
Shares Outstanding 4,508.85
Equity Value Per Share 398.21