Discounted Cash Flow (DCF) Analysis Levered

GrandVision N.V. (GVNV.AS)

28.3 €

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: -168.61 | 28.3 | 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 3,316.083,449.863,720.984,039.313,480.993,538.653,597.273,656.863,717.443,779.02
Revenue (%)
Operating Cash Flow 430.56341.21448.33877.38754.25554.24563.42572.75582.24591.89
Operating Cash Flow (%)
Capital Expenditure -175.91-197.50-210.19-197.73-152.19-183.63-186.67-189.76-192.90-196.10
Capital Expenditure (%)
Free Cash Flow 254.65143.71238.14679.65602.06370.61376.75382.99389.34395.79

Weighted Average Cost Of Capital

Share price $ 28.3
Beta 0.216
Diluted Shares Outstanding 254.47
Cost of Debt
Tax Rate 824.58
After-tax Cost of Debt -12.10%
Risk-Free Rate
Market Risk Premium
Cost of Equity 4.764
Total Debt 1,991.21
Total Equity 7,201.60
Total Capital 9,192.81
Debt Weighting 21.66
Equity Weighting 78.34
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 3,316.083,449.863,720.984,039.313,480.993,538.653,597.273,656.863,717.443,779.02
Operating Cash Flow 430.56341.21448.33877.38754.25554.24563.42572.75582.24591.89
Capital Expenditure -175.91-197.50-210.19-197.73-152.19-183.63-186.67-189.76-192.90-196.10
Free Cash Flow 254.65143.71238.14679.65602.06370.61376.75382.99389.34395.79
WACC
PV LFCF 366.54368.52370.52372.52374.53
SUM PV LFCF 1,852.64

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 1.11
Free cash flow (t + 1) 403.70
Terminal Value -45,359.75
Present Value of Terminal Value -42,923.99

Intrinsic Value

Enterprise Value -41,071.35
Net Debt 1,835.89
Equity Value -42,907.25
Shares Outstanding 254.47
Equity Value Per Share -168.61