Discounted Cash Flow (DCF) Analysis Levered

Home Invest Belgium S.A. (HOMI.BR)

19.65 €

-0.35 (-1.77%)
All numbers are in Millions, Currency in USD
Stock DCF: 0.53 | 19.65 | overvalue

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 23.4225.0426.1827.8429.1530.8032.5334.3736.3038.35
Revenue (%)
Operating Cash Flow 7.2910.3914.7516.9918.4815.6116.4917.4218.4019.44
Operating Cash Flow (%)
Capital Expenditure -21.18-0.68-5.38-5.10-20.11-12.38-13.08-13.81-14.59-15.41
Capital Expenditure (%)
Free Cash Flow -13.899.719.3711.89-1.623.233.413.603.814.02

Weighted Average Cost Of Capital

Share price $ 19.65
Beta 0.142
Diluted Shares Outstanding 31.43
Cost of Debt
Tax Rate 0.45
After-tax Cost of Debt 0.92%
Risk-Free Rate
Market Risk Premium
Cost of Equity 4.186
Total Debt 381.77
Total Equity 617.55
Total Capital 999.31
Debt Weighting 38.20
Equity Weighting 61.80
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 23.4225.0426.1827.8429.1530.8032.5334.3736.3038.35
Operating Cash Flow 7.2910.3914.7516.9918.4815.6116.4917.4218.4019.44
Capital Expenditure -21.18-0.68-5.38-5.10-20.11-12.38-13.08-13.81-14.59-15.41
Free Cash Flow -13.899.719.3711.89-1.623.233.413.603.814.02
WACC
PV LFCF 3.143.223.303.393.48
SUM PV LFCF 16.53

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 2.94
Free cash flow (t + 1) 4.10
Terminal Value 436.48
Present Value of Terminal Value 377.61

Intrinsic Value

Enterprise Value 394.15
Net Debt 377.58
Equity Value 16.56
Shares Outstanding 31.43
Equity Value Per Share 0.53