Discounted Cash Flow (DCF) Analysis Levered
Wendel (MF.PA)
100.4 €
+0.70 (+0.70%)
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 | 8,370.50 | 8,426.30 | 8,586.70 | 7,465.70 | 7,504.20 | 7,317.17 | 7,134.81 | 6,956.99 | 6,783.60 | 6,614.53 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 1,107.90 | 1,211.40 | 1,424.50 | 1,398.60 | 1,423.70 | 1,198.66 | 1,168.79 | 1,139.66 | 1,111.26 | 1,083.56 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -301.10 | -299.60 | -276.30 | -219.30 | -249.20 | -243.35 | -237.29 | -231.37 | -225.60 | -219.98 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 806.80 | 911.80 | 1,148.20 | 1,179.30 | 1,174.50 | 955.31 | 931.50 | 908.29 | 885.65 | 863.58 |
Weighted Average Cost Of Capital
| Share price | $ 100.4 |
|---|---|
| Beta | 1.376 |
| Diluted Shares Outstanding | 80.36 |
| Cost of Debt | |
| Tax Rate | -60.76 |
| After-tax Cost of Debt | 2.77% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 10.134 |
| Total Debt | 5,934.90 |
| Total Equity | 8,068.12 |
| Total Capital | 14,003.02 |
| Debt Weighting | 42.38 |
| Equity Weighting | 57.62 |
| 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 | 8,370.50 | 8,426.30 | 8,586.70 | 7,465.70 | 7,504.20 | 7,317.17 | 7,134.81 | 6,956.99 | 6,783.60 | 6,614.53 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 1,107.90 | 1,211.40 | 1,424.50 | 1,398.60 | 1,423.70 | 1,198.66 | 1,168.79 | 1,139.66 | 1,111.26 | 1,083.56 |
| Capital Expenditure | -301.10 | -299.60 | -276.30 | -219.30 | -249.20 | -243.35 | -237.29 | -231.37 | -225.60 | -219.98 |
| Free Cash Flow | 806.80 | 911.80 | 1,148.20 | 1,179.30 | 1,174.50 | 955.31 | 931.50 | 908.29 | 885.65 | 863.58 |
| WACC | ||||||||||
| PV LFCF | 892.73 | 813.46 | 741.23 | 675.41 | 615.43 | |||||
| SUM PV LFCF | 3,738.25 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.01 |
| Free cash flow (t + 1) | 880.85 |
| Terminal Value | 17,581.81 |
| Present Value of Terminal Value | 12,529.73 |
Intrinsic Value
| Enterprise Value | 16,267.99 |
|---|---|
| Net Debt | 3,703.10 |
| Equity Value | 12,564.89 |
| Shares Outstanding | 80.36 |
| Equity Value Per Share | 156.36 |