Discounted Cash Flow (DCF) Analysis Levered

Hybrid Software Group PLC (GLOG.BR)

4.9 €

0.00 (0.00%)

All numbers are in Millions, Currency in USD

Stock DCF: 3.80 | 4.9 | overvalue

Free Cash Flow

Year A/P	2016 Actual	2017 Actual	2018 Actual	2019 Actual	2020 Actual	2021 Projected	2022 Projected	2023 Projected	2024 Projected	2025 Projected
Revenue	16.03	20.54	23.92	22.51	22.49	24.66	27.04	29.65	32.52	35.65
Revenue (%)
Operating Cash Flow	3.51	3.77	2.17	4.31	1.47	3.70	4.06	4.45	4.88	5.35
Operating Cash Flow (%)
Capital Expenditure	-1.54	-1.63	-1.61	-1.89	-1.70	-1.98	-2.17	-2.38	-2.61	-2.87
Capital Expenditure (%)
Free Cash Flow	1.97	2.14	0.56	2.42	-0.23	1.72	1.88	2.06	2.26	2.48

Weighted Average Cost Of Capital

Share price	$ 4.9
Beta	0.841
Diluted Shares Outstanding	11.72
Cost of Debt
Tax Rate	-249.56
After-tax Cost of Debt	8.51%
Risk-Free Rate
Market Risk Premium
Cost of Equity	7.605
Total Debt	1.74
Total Equity	57.44
Total Capital	59.18
Debt Weighting	2.94
Equity Weighting	97.06
Wacc

Build Up Free Cash Flow

Year A/P	2016 Actual	2017 Actual	2018 Actual	2019 Actual	2020 Actual	2021 Projected	2022 Projected	2023 Projected	2024 Projected	2025 Projected
Revenue	16.03	20.54	23.92	22.51	22.49	24.66	27.04	29.65	32.52	35.65
Operating Cash Flow	3.51	3.77	2.17	4.31	1.47	3.70	4.06	4.45	4.88	5.35
Capital Expenditure	-1.54	-1.63	-1.61	-1.89	-1.70	-1.98	-2.17	-2.38	-2.61	-2.87
Free Cash Flow	1.97	2.14	0.56	2.42	-0.23	1.72	1.88	2.06	2.26	2.48
WACC
PV LFCF						1.60	1.63	1.66	1.69	1.72
SUM PV LFCF										8.28

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%)	7.63
Free cash flow (t + 1)	2.53
Terminal Value	44.97
Present Value of Terminal Value	31.14

Intrinsic Value

Enterprise Value	39.42
Net Debt	-5.12
Equity Value	44.54
Shares Outstanding	11.72
Equity Value Per Share	3.80