Discounted Cash Flow (DCF) Analysis Levered

Métropole Télévision S.A. (MMT.PA)

12.87 €

-0.03 (-0.23%)
All numbers are in Millions, Currency in USD
Stock DCF: 24.37 | 12.87 | undervalue

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 1,387.301,421.401,456.101,288.301,390.401,394.921,399.461,404.011,408.571,413.15
Revenue (%)
Operating Cash Flow 220.20280.80276.70246.60455.40297.19298.15299.12300.10301.07
Operating Cash Flow (%)
Capital Expenditure -127.20-109.30-104.10-76.50-101.70-103.95-104.29-104.63-104.97-105.31
Capital Expenditure (%)
Free Cash Flow 93171.50172.60170.10353.70193.24193.87194.50195.13195.76

Weighted Average Cost Of Capital

Share price $ 12.87
Beta 1.312
Diluted Shares Outstanding 125.81
Cost of Debt
Tax Rate 21.58
After-tax Cost of Debt 1.68%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.985
Total Debt 149.30
Total Equity 1,619.12
Total Capital 1,768.42
Debt Weighting 8.44
Equity Weighting 91.56
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 1,387.301,421.401,456.101,288.301,390.401,394.921,399.461,404.011,408.571,413.15
Operating Cash Flow 220.20280.80276.70246.60455.40297.19298.15299.12300.10301.07
Capital Expenditure -127.20-109.30-104.10-76.50-101.70-103.95-104.29-104.63-104.97-105.31
Free Cash Flow 93171.50172.60170.10353.70193.24193.87194.50195.13195.76
WACC
PV LFCF 178.31165.08152.82141.48130.97
SUM PV LFCF 768.66

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.37
Free cash flow (t + 1) 199.68
Terminal Value 3,134.68
Present Value of Terminal Value 2,097.24

Intrinsic Value

Enterprise Value 2,865.90
Net Debt -199.70
Equity Value 3,065.60
Shares Outstanding 125.81
Equity Value Per Share 24.37