Discounted Cash Flow (DCF) Analysis Levered
Genfit S.A. (GNFT)
$4.86
+0.30 (+6.58%)
All numbers are in Millions, Currency in USD
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 | 0.12 | 0.07 | 30.84 | 0.76 | 80.07 | 11,053.86 | 1,526,032.70 | 210,675,276.70 | 29,084,614,183.01 | 4,015,254,164,795.86 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -49.86 | -56.08 | -47.68 | -96.37 | 99.92 | -3,010,077.62 | -415,553,963.75 | -57,368,984,616.15 | -7,920,031,290,793.30 | -1,093,393,861,976,934.88 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -2.80 | -2.94 | -2.03 | -0.90 | -0.54 | -149,354.34 | -20,618,999.04 | -2,846,540,140.84 | -392,976,921,881.51 | -54,252,128,370,164.35 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -52.66 | -59.02 | -49.71 | -97.27 | 99.38 | -3,159,431.96 | -436,172,962.78 | -60,215,524,756.98 | -8,313,008,212,674.81 | -1,147,645,990,347,099.25 |
Weighted Average Cost Of Capital
| Share price | $ 4.86 |
|---|---|
| Beta | 1.180 |
| Diluted Shares Outstanding | 54.68 |
| Cost of Debt | |
| Tax Rate | 3.19 |
| After-tax Cost of Debt | 9.28% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.365 |
| Total Debt | 74.23 |
| Total Equity | 265.76 |
| Total Capital | 339.99 |
| Debt Weighting | 21.83 |
| Equity Weighting | 78.17 |
| 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 | 0.12 | 0.07 | 30.84 | 0.76 | 80.07 | 11,053.86 | 1,526,032.70 | 210,675,276.70 | 29,084,614,183.01 | 4,015,254,164,795.86 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -49.86 | -56.08 | -47.68 | -96.37 | 99.92 | -3,010,077.62 | -415,553,963.75 | -57,368,984,616.15 | -7,920,031,290,793.30 | -1,093,393,861,976,934.88 |
| Capital Expenditure | -2.80 | -2.94 | -2.03 | -0.90 | -0.54 | -149,354.34 | -20,618,999.04 | -2,846,540,140.84 | -392,976,921,881.51 | -54,252,128,370,164.35 |
| Free Cash Flow | -52.66 | -59.02 | -49.71 | -97.27 | 99.38 | -3,159,431.96 | -436,172,962.78 | -60,215,524,756.98 | -8,313,008,212,674.81 | -1,147,645,990,347,099.25 |
| WACC | ||||||||||
| PV LFCF | -2,094,400.91 | -266,317,505.53 | -33,864,105,668.99 | -4,306,054,348,489.54 | -547,544,477,724,853 | |||||
| SUM PV LFCF | -766,809,840,667,181.88 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.57 |
| Free cash flow (t + 1) | -1,170,598,910,154,041.25 |
| Terminal Value | -17,817,335,009,954,966 |
| Present Value of Terminal Value | -11,811,187,305,558,242 |
Intrinsic Value
| Enterprise Value | -12,577,997,146,225,424 |
|---|---|
| Net Debt | -184.52 |
| Equity Value | -12,577,997,146,225,238 |
| Shares Outstanding | 54.68 |
| Equity Value Per Share | -230,020,316,080,414.13 |