Discounted Cash Flow (DCF) Analysis Levered

GK Software SE (GKS.DE)

141.8 €

-4.80 (-3.27%)
All numbers are in Millions, Currency in USD
Stock DCF: 34.01 | 141.8 | 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 91.55107.46115.45117.56130.85143.26156.84171.72188.01205.84
Revenue (%)
Operating Cash Flow 15.22-5.67-0.2117.7123.2212.6013.8015.1016.5418.11
Operating Cash Flow (%)
Capital Expenditure -8.16-11.98-3.65-2.68-2.52-7.86-8.60-9.42-10.31-11.29
Capital Expenditure (%)
Free Cash Flow 7.06-17.65-3.8615.0320.704.745.195.696.236.82

Weighted Average Cost Of Capital

Share price $ 141.8
Beta 1.947
Diluted Shares Outstanding 2.38
Cost of Debt
Tax Rate 20.04
After-tax Cost of Debt 0.44%
Risk-Free Rate
Market Risk Premium
Cost of Equity 12.710
Total Debt 26.94
Total Equity 337.63
Total Capital 364.57
Debt Weighting 7.39
Equity Weighting 92.61
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 91.55107.46115.45117.56130.85143.26156.84171.72188.01205.84
Operating Cash Flow 15.22-5.67-0.2117.7123.2212.6013.8015.1016.5418.11
Capital Expenditure -8.16-11.98-3.65-2.68-2.52-7.86-8.60-9.42-10.31-11.29
Free Cash Flow 7.06-17.65-3.8615.0320.704.745.195.696.236.82
WACC
PV LFCF 4.244.154.073.983.90
SUM PV LFCF 20.35

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 11.80
Free cash flow (t + 1) 6.95
Terminal Value 70.94
Present Value of Terminal Value 40.61

Intrinsic Value

Enterprise Value 60.97
Net Debt -20.01
Equity Value 80.97
Shares Outstanding 2.38
Equity Value Per Share 34.01