Discounted Cash Flow (DCF) Analysis Levered
LANXESS Aktiengesellschaft (LXS.DE)
33.29 €
-0.71 (-2.09%)
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 | $ 33.29 |
---|---|
Beta | 1.732 |
Diluted Shares Outstanding | 86.59 |
Cost of Debt | |
Tax Rate | 2.72 |
After-tax Cost of Debt | 2.07% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 11.921 |
Total Debt | 4,230 |
Total Equity | 2,882.51 |
Total Capital | 7,112.51 |
Debt Weighting | 59.47 |
Equity Weighting | 40.53 |
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 | 19.63 | 19.21 | 18.79 | 18.39 | 17.99 | |||||
SUM PV LFCF | 99.71 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 6.06 |
Free cash flow (t + 1) | 26.12 |
Terminal Value | 643.36 |
Present Value of Terminal Value | 479.40 |
Intrinsic Value
Enterprise Value | 579.11 |
---|---|
Net Debt | 3,827 |
Equity Value | -3,247.89 |
Shares Outstanding | 86.59 |
Equity Value Per Share | -37.51 |