Discounted Cash Flow (DCF) Analysis Levered

ID Logistics Group SA (IDL.PA)

258 €

+2.00 (+0.78%)

All numbers are in Millions, Currency in USD

Stock DCF: 585.73 | 258 | undervalue

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	1,329.27	1,410.30	1,534.24	1,642.83	1,910.87	2,093.73	2,294.09	2,513.62	2,754.16	3,017.72
Revenue (%)
Operating Cash Flow	28.40	61.67	182.14	212.03	271.28	190.47	208.69	228.66	250.55	274.52
Operating Cash Flow (%)
Capital Expenditure	-38.54	-58.74	-67.09	-59.31	-83.67	-81.35	-89.13	-97.66	-107.01	-117.25
Capital Expenditure (%)
Free Cash Flow	-10.14	2.93	115.05	152.72	187.61	109.12	119.56	131	143.54	157.28

Weighted Average Cost Of Capital

Share price	$ 258
Beta	0.844
Diluted Shares Outstanding	6.02
Cost of Debt
Tax Rate	34.31
After-tax Cost of Debt	1.01%
Risk-Free Rate
Market Risk Premium
Cost of Equity	7.792
Total Debt	868.08
Total Equity	1,554.02
Total Capital	2,422.10
Debt Weighting	35.84
Equity Weighting	64.16
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	1,329.27	1,410.30	1,534.24	1,642.83	1,910.87	2,093.73	2,294.09	2,513.62	2,754.16	3,017.72
Operating Cash Flow	28.40	61.67	182.14	212.03	271.28	190.47	208.69	228.66	250.55	274.52
Capital Expenditure	-38.54	-58.74	-67.09	-59.31	-83.67	-81.35	-89.13	-97.66	-107.01	-117.25
Free Cash Flow	-10.14	2.93	115.05	152.72	187.61	109.12	119.56	131	143.54	157.28
WACC
PV LFCF						103.57	107.71	112.01	116.49	121.14
SUM PV LFCF										560.91

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%)	5.36
Free cash flow (t + 1)	160.42
Terminal Value	4,774.46
Present Value of Terminal Value	3,677.44

Intrinsic Value

Enterprise Value	4,238.35
Net Debt	710.31
Equity Value	3,528.04
Shares Outstanding	6.02
Equity Value Per Share	585.73