Discounted Cash Flow (DCF) Analysis Levered

Laiqon AG (L1OA.DE)

7.78 €

0.00 (0.00%)

All numbers are in Millions, Currency in USD

Stock DCF: 2.36 | 7.78 | 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	7.46	7.92	8.22	27.74	26.12	41.89	67.19	107.76	172.83	277.19
Revenue (%)
Operating Cash Flow	1.49	-1.24	1.42	-0.95	19.96	7.92	12.70	20.38	32.68	52.41
Operating Cash Flow (%)
Capital Expenditure	-0.17	-1	-4.91	-1.20	-1.20	-7	-11.23	-18.01	-28.89	-46.33
Capital Expenditure (%)
Free Cash Flow	1.32	-2.24	-3.49	-2.15	18.76	0.92	1.47	2.36	3.79	6.08

Weighted Average Cost Of Capital

Share price	$ 7.78
Beta	1.329
Diluted Shares Outstanding	13.37
Cost of Debt
Tax Rate	19.75
After-tax Cost of Debt	43.58%
Risk-Free Rate
Market Risk Premium
Cost of Equity	9.824
Total Debt	17.85
Total Equity	104.06
Total Capital	121.90
Debt Weighting	14.64
Equity Weighting	85.36
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	7.46	7.92	8.22	27.74	26.12	41.89	67.19	107.76	172.83	277.19
Operating Cash Flow	1.49	-1.24	1.42	-0.95	19.96	7.92	12.70	20.38	32.68	52.41
Capital Expenditure	-0.17	-1	-4.91	-1.20	-1.20	-7	-11.23	-18.01	-28.89	-46.33
Free Cash Flow	1.32	-2.24	-3.49	-2.15	18.76	0.92	1.47	2.36	3.79	6.08
WACC
PV LFCF						0.80	1.12	1.56	2.19	3.05
SUM PV LFCF										8.72

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%)	14.77
Free cash flow (t + 1)	6.20
Terminal Value	48.57
Present Value of Terminal Value	24.39

Intrinsic Value

Enterprise Value	33.11
Net Debt	1.52
Equity Value	31.60
Shares Outstanding	13.37
Equity Value Per Share	2.36