Discounted Cash Flow (DCF) Analysis Levered
Martifer SGPS, S.A. (MAR.LS)
1.26 €
-0.04 (-3.08%)
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 | 200.59 | 235.91 | 226.12 | 209.32 | 190.40 | 188.97 | 187.55 | 186.14 | 184.74 | 183.35 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 13.52 | 10.71 | 10.98 | 6.24 | 13.34 | 9.87 | 9.80 | 9.72 | 9.65 | 9.58 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -1.85 | -0.37 | -1.76 | -1.80 | -1.16 | -1.26 | -1.25 | -1.24 | -1.23 | -1.22 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 11.67 | 10.34 | 9.22 | 4.44 | 12.18 | 8.62 | 8.55 | 8.49 | 8.42 | 8.36 |
Weighted Average Cost Of Capital
Share price | $ 1.26 |
---|---|
Beta | 0.701 |
Diluted Shares Outstanding | 97.78 |
Cost of Debt | |
Tax Rate | 13.62 |
After-tax Cost of Debt | 3.08% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 7.907 |
Total Debt | 123.46 |
Total Equity | 123.21 |
Total Capital | 246.67 |
Debt Weighting | 50.05 |
Equity Weighting | 49.95 |
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 | 200.59 | 235.91 | 226.12 | 209.32 | 190.40 | 188.97 | 187.55 | 186.14 | 184.74 | 183.35 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 13.52 | 10.71 | 10.98 | 6.24 | 13.34 | 9.87 | 9.80 | 9.72 | 9.65 | 9.58 |
Capital Expenditure | -1.85 | -0.37 | -1.76 | -1.80 | -1.16 | -1.26 | -1.25 | -1.24 | -1.23 | -1.22 |
Free Cash Flow | 11.67 | 10.34 | 9.22 | 4.44 | 12.18 | 8.62 | 8.55 | 8.49 | 8.42 | 8.36 |
WACC | ||||||||||
PV LFCF | 8.17 | 7.68 | 7.23 | 6.80 | 6.40 | |||||
SUM PV LFCF | 36.28 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 5.49 |
Free cash flow (t + 1) | 8.53 |
Terminal Value | 244.33 |
Present Value of Terminal Value | 187.04 |
Intrinsic Value
Enterprise Value | 223.32 |
---|---|
Net Debt | 67.13 |
Equity Value | 156.19 |
Shares Outstanding | 97.78 |
Equity Value Per Share | 1.60 |