Discounted Cash Flow (DCF) Analysis Levered
Just Eat Takeaway.com N.V. (GRUB)
$6.72
0.00 (-%)
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 | 166.48 | 232.31 | 415.88 | 2,042 | 4,495 | 11,571.21 | 29,787.09 | 76,679.13 | 197,390.54 | 508,130.77 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -36.17 | -2.73 | -63.77 | 177 | -423 | -901.96 | -2,321.87 | -5,977.05 | -15,386.36 | -39,608.18 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -3.77 | -4.51 | -8.45 | -43 | -151 | -270.82 | -697.15 | -1,794.64 | -4,619.84 | -11,892.58 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -39.94 | -7.23 | -72.22 | 134 | -574 | -1,172.78 | -3,019.02 | -7,771.69 | -20,006.19 | -51,500.76 |
Weighted Average Cost Of Capital
| Share price | $ 6.72 |
|---|---|
| Beta | 0.342 |
| Diluted Shares Outstanding | 702.10 |
| Cost of Debt | |
| Tax Rate | 2.03 |
| After-tax Cost of Debt | 2.66% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 5.253 |
| Total Debt | 2,616 |
| Total Equity | 4,718.11 |
| Total Capital | 7,334.11 |
| Debt Weighting | 35.67 |
| Equity Weighting | 64.33 |
| 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 | 166.48 | 232.31 | 415.88 | 2,042 | 4,495 | 11,571.21 | 29,787.09 | 76,679.13 | 197,390.54 | 508,130.77 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -36.17 | -2.73 | -63.77 | 177 | -423 | -901.96 | -2,321.87 | -5,977.05 | -15,386.36 | -39,608.18 |
| Capital Expenditure | -3.77 | -4.51 | -8.45 | -43 | -151 | -270.82 | -697.15 | -1,794.64 | -4,619.84 | -11,892.58 |
| Free Cash Flow | -39.94 | -7.23 | -72.22 | 134 | -574 | -1,172.78 | -3,019.02 | -7,771.69 | -20,006.19 | -51,500.76 |
| WACC | ||||||||||
| PV LFCF | -1,124.11 | -2,773.63 | -6,843.65 | -16,886.03 | -41,664.64 | |||||
| SUM PV LFCF | -69,292.05 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 4.33 |
| Free cash flow (t + 1) | -52,530.78 |
| Terminal Value | -2,254,539.73 |
| Present Value of Terminal Value | -1,823,945.49 |
Intrinsic Value
| Enterprise Value | -1,893,237.54 |
|---|---|
| Net Debt | 1,550 |
| Equity Value | -1,894,787.54 |
| Shares Outstanding | 702.10 |
| Equity Value Per Share | -2,698.74 |