Discounted Cash Flow (DCF) Analysis Levered
Heidelberger Druckmaschinen Aktieng... (HDD.DE)
1.209 €
+0.01 (+0.42%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
| Revenue | 2,490.49 | 2,349.45 | 1,913.17 | 2,183.43 | 2,435 | 2,443.62 | 2,452.26 | 2,460.94 | 2,469.65 | 2,478.39 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -11.28 | -53.95 | 0.06 | 51.22 | 33 | 4.67 | 4.68 | 4.70 | 4.72 | 4.73 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -124.89 | -95.53 | -59.80 | -55.42 | -78 | -87.71 | -88.02 | -88.34 | -88.65 | -88.96 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -136.16 | -149.48 | -59.75 | -4.20 | -45 | -83.05 | -83.34 | -83.64 | -83.93 | -84.23 |
Weighted Average Cost Of Capital
| Share price | $ 1.209 |
|---|---|
| Beta | 2.140 |
| Diluted Shares Outstanding | 304.34 |
| Cost of Debt | |
| Tax Rate | 18.75 |
| After-tax Cost of Debt | 22.86% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 14.539 |
| Total Debt | 96 |
| Total Equity | 367.94 |
| Total Capital | 463.94 |
| Debt Weighting | 20.69 |
| Equity Weighting | 79.31 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
| Revenue | 2,490.49 | 2,349.45 | 1,913.17 | 2,183.43 | 2,435 | 2,443.62 | 2,452.26 | 2,460.94 | 2,469.65 | 2,478.39 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -11.28 | -53.95 | 0.06 | 51.22 | 33 | 4.67 | 4.68 | 4.70 | 4.72 | 4.73 |
| Capital Expenditure | -124.89 | -95.53 | -59.80 | -55.42 | -78 | -87.71 | -88.02 | -88.34 | -88.65 | -88.96 |
| Free Cash Flow | -136.16 | -149.48 | -59.75 | -4.20 | -45 | -83.05 | -83.34 | -83.64 | -83.93 | -84.23 |
| WACC | ||||||||||
| PV LFCF | -71.43 | -61.66 | -53.22 | -45.94 | -39.66 | |||||
| SUM PV LFCF | -271.92 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 16.26 |
| Free cash flow (t + 1) | -85.92 |
| Terminal Value | -602.49 |
| Present Value of Terminal Value | -283.66 |
Intrinsic Value
| Enterprise Value | -555.58 |
|---|---|
| Net Debt | -14 |
| Equity Value | -541.58 |
| Shares Outstanding | 304.34 |
| Equity Value Per Share | -1.78 |