Discounted Cash Flow (DCF) Analysis Levered
Marie Brizard Wine & Spirits SA (MBWS.PA)
2.19 €
+0.03 (+1.39%)
All numbers are in Millions, Currency in USD
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 | 414.74 | 388.91 | 275.49 | 169.08 | 166.68 | 135.25 | 109.74 | 89.05 | 72.25 | 58.63 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 24.64 | -57.37 | -16.98 | 4.43 | -9.12 | -4.82 | -3.91 | -3.18 | -2.58 | -2.09 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -22.22 | -22.49 | -9.06 | -5.02 | -3.28 | -5.24 | -4.25 | -3.45 | -2.80 | -2.27 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 2.42 | -79.86 | -26.03 | -0.60 | -12.40 | -10.06 | -8.16 | -6.62 | -5.37 | -4.36 |
Weighted Average Cost Of Capital
| Share price | $ 2.19 |
|---|---|
| Beta | 0.364 |
| Diluted Shares Outstanding | 79.87 |
| Cost of Debt | |
| Tax Rate | 4.63 |
| After-tax Cost of Debt | 7.25% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 5.234 |
| Total Debt | 5.98 |
| Total Equity | 174.91 |
| Total Capital | 180.89 |
| Debt Weighting | 3.30 |
| Equity Weighting | 96.70 |
| 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 | 414.74 | 388.91 | 275.49 | 169.08 | 166.68 | 135.25 | 109.74 | 89.05 | 72.25 | 58.63 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 24.64 | -57.37 | -16.98 | 4.43 | -9.12 | -4.82 | -3.91 | -3.18 | -2.58 | -2.09 |
| Capital Expenditure | -22.22 | -22.49 | -9.06 | -5.02 | -3.28 | -5.24 | -4.25 | -3.45 | -2.80 | -2.27 |
| Free Cash Flow | 2.42 | -79.86 | -26.03 | -0.60 | -12.40 | -10.06 | -8.16 | -6.62 | -5.37 | -4.36 |
| WACC | ||||||||||
| PV LFCF | -9.55 | -7.36 | -5.67 | -4.37 | -3.37 | |||||
| SUM PV LFCF | -30.33 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 5.30 |
| Free cash flow (t + 1) | -4.45 |
| Terminal Value | -134.79 |
| Present Value of Terminal Value | -104.12 |
Intrinsic Value
| Enterprise Value | -134.45 |
|---|---|
| Net Debt | -48.19 |
| Equity Value | -86.26 |
| Shares Outstanding | 79.87 |
| Equity Value Per Share | -1.08 |