Discounted Cash Flow (DCF) Analysis Levered
Miko NV (MIKO.BR)
84.2 €
-4.80 (-5.39%)
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 | 199.79 | 204.21 | 215.34 | 186.40 | 137.41 | 126.40 | 116.27 | 106.95 | 98.38 | 90.49 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 16.96 | 17.30 | 24.67 | 28.39 | 26.97 | 15.99 | 14.71 | 13.53 | 12.45 | 11.45 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -16.37 | -12.50 | -25.65 | -12.45 | -8.86 | -9.95 | -9.15 | -8.42 | -7.74 | -7.12 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 0.59 | 4.80 | -0.98 | 15.94 | 18.11 | 6.05 | 5.56 | 5.12 | 4.71 | 4.33 |
Weighted Average Cost Of Capital
Share price | $ 84.2 |
---|---|
Beta | 0.328 |
Diluted Shares Outstanding | 1.24 |
Cost of Debt | |
Tax Rate | -786.67 |
After-tax Cost of Debt | 1.91% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 5.111 |
Total Debt | 63.87 |
Total Equity | 104.66 |
Total Capital | 168.53 |
Debt Weighting | 37.90 |
Equity Weighting | 62.10 |
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 | 199.79 | 204.21 | 215.34 | 186.40 | 137.41 | 126.40 | 116.27 | 106.95 | 98.38 | 90.49 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 16.96 | 17.30 | 24.67 | 28.39 | 26.97 | 15.99 | 14.71 | 13.53 | 12.45 | 11.45 |
Capital Expenditure | -16.37 | -12.50 | -25.65 | -12.45 | -8.86 | -9.95 | -9.15 | -8.42 | -7.74 | -7.12 |
Free Cash Flow | 0.59 | 4.80 | -0.98 | 15.94 | 18.11 | 6.05 | 5.56 | 5.12 | 4.71 | 4.33 |
WACC | ||||||||||
PV LFCF | 5.82 | 5.15 | 4.56 | 4.04 | 3.57 | |||||
SUM PV LFCF | 23.15 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 3.90 |
Free cash flow (t + 1) | 4.42 |
Terminal Value | 232.38 |
Present Value of Terminal Value | 191.92 |
Intrinsic Value
Enterprise Value | 215.07 |
---|---|
Net Debt | 18.11 |
Equity Value | 196.96 |
Shares Outstanding | 1.24 |
Equity Value Per Share | 158.46 |