Discounted Cash Flow (DCF) Analysis Levered

KION GROUP AG (KGX.DE)

41.71 €

+0.52 (+1.26%)
All numbers are in Millions, Currency in USD
Stock DCF: 27.82 | 41.71 | overvalue

Free Cash Flow

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 7,995.708,806.508,341.6010,294.3011,135.6012,150.1413,257.1114,464.9315,782.8017,220.73
Revenue (%)
Operating Cash Flow 765.50846.30527.10881.70-345.90752.37820.92895.71977.321,066.36
Operating Cash Flow (%)
Capital Expenditure -258.50-287.40-283.80-333.80-365.84-399.17-435.54-475.22-518.52-565.76
Capital Expenditure (%)
Free Cash Flow 507558.90243.30547.90-711.74353.20385.38420.49458.80500.60

Weighted Average Cost Of Capital

Share price $ 41.71
Beta 1.970
Diluted Shares Outstanding 118.90
Cost of Debt
Tax Rate 28.99
After-tax Cost of Debt 3.06%
Risk-Free Rate
Market Risk Premium
Cost of Equity 13.601
Total Debt 5,979.20
Total Equity 4,959.32
Total Capital 10,938.52
Debt Weighting 54.66
Equity Weighting 45.34
Wacc

Build Up Free Cash Flow

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 7,995.708,806.508,341.6010,294.3011,135.6012,150.1413,257.1114,464.9315,782.8017,220.73
Operating Cash Flow 765.50846.30527.10881.70-345.90752.37820.92895.71977.321,066.36
Capital Expenditure -258.50-287.40-283.80-333.80-365.84-399.17-435.54-475.22-518.52-565.76
Free Cash Flow 507558.90243.30547.90-711.74353.20385.38420.49458.80500.60
WACC
PV LFCF 327.52331.38335.29339.24343.24
SUM PV LFCF 1,676.67

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.84
Free cash flow (t + 1) 515.62
Terminal Value 10,653.30
Present Value of Terminal Value 7,304.40

Intrinsic Value

Enterprise Value 8,981.07
Net Debt 5,673
Equity Value 3,308.07
Shares Outstanding 118.90
Equity Value Per Share 27.82