Discounted Cash Flow (DCF) Analysis Levered
LANXESS Aktiengesellschaft (LXS.DE)
23.98 €
+0.19 (+0.80%)
All numbers are in Millions, Currency in USD
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 | 7,197 | 6,802 | 6,104 | 7,557 | 8,088 | 8,392.93 | 8,709.35 | 9,037.71 | 9,378.44 | 9,732.03 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 586 | 643 | 585 | 407 | 159 | 579.63 | 601.48 | 624.16 | 647.69 | 672.11 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -497 | -508 | -456 | -479 | -407 | -557.55 | -578.57 | -600.38 | -623.01 | -646.50 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 89 | 135 | 129 | -72 | -248 | 22.08 | 22.92 | 23.78 | 24.68 | 25.61 |
Weighted Average Cost Of Capital
Share price | $ 23.98 |
---|---|
Beta | 1.702 |
Diluted Shares Outstanding | 86.35 |
Cost of Debt | |
Tax Rate | 28.02 |
After-tax Cost of Debt | 1.53% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 12.657 |
Total Debt | 4,230 |
Total Equity | 2,070.58 |
Total Capital | 6,300.58 |
Debt Weighting | 67.14 |
Equity Weighting | 32.86 |
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 | 7,197 | 6,802 | 6,104 | 7,557 | 8,088 | 8,392.93 | 8,709.35 | 9,037.71 | 9,378.44 | 9,732.03 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 586 | 643 | 585 | 407 | 159 | 579.63 | 601.48 | 624.16 | 647.69 | 672.11 |
Capital Expenditure | -497 | -508 | -456 | -479 | -407 | -557.55 | -578.57 | -600.38 | -623.01 | -646.50 |
Free Cash Flow | 89 | 135 | 129 | -72 | -248 | 22.08 | 22.92 | 23.78 | 24.68 | 25.61 |
WACC | ||||||||||
PV LFCF | 21 | 20.71 | 20.43 | 20.16 | 19.88 | |||||
SUM PV LFCF | 102.18 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 5.19 |
Free cash flow (t + 1) | 26.12 |
Terminal Value | 818.83 |
Present Value of Terminal Value | 635.80 |
Intrinsic Value
Enterprise Value | 737.98 |
---|---|
Net Debt | 3,827 |
Equity Value | -3,089.02 |
Shares Outstanding | 86.35 |
Equity Value Per Share | -35.77 |