Discounted Cash Flow (DCF) Analysis Levered
Aurubis AG (NDA.DE)
79.36 €
+1.40 (+1.80%)
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 | 10,423.75 | 10,763.30 | 12,428.54 | 16,372.68 | 18,520.52 | 21,464.45 | 24,876.33 | 28,830.54 | 33,413.29 | 38,724.50 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 202.50 | 271.67 | 458.94 | 812.08 | 287.82 | 629.91 | 730.04 | 846.09 | 980.58 | 1,136.44 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -168.17 | -221.48 | -229.95 | -252.44 | -347.05 | -383.66 | -444.64 | -515.32 | -597.23 | -692.17 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 34.33 | 50.19 | 228.98 | 559.64 | -59.23 | 246.26 | 285.40 | 330.77 | 383.34 | 444.28 |
Weighted Average Cost Of Capital
| Share price | $ 79.36 |
|---|---|
| Beta | 1.544 |
| Diluted Shares Outstanding | 43.67 |
| Cost of Debt | |
| Tax Rate | 23.59 |
| After-tax Cost of Debt | 4.00% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 11.071 |
| Total Debt | 327.50 |
| Total Equity | 3,465.97 |
| Total Capital | 3,793.47 |
| Debt Weighting | 8.63 |
| Equity Weighting | 91.37 |
| 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 | 10,423.75 | 10,763.30 | 12,428.54 | 16,372.68 | 18,520.52 | 21,464.45 | 24,876.33 | 28,830.54 | 33,413.29 | 38,724.50 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 202.50 | 271.67 | 458.94 | 812.08 | 287.82 | 629.91 | 730.04 | 846.09 | 980.58 | 1,136.44 |
| Capital Expenditure | -168.17 | -221.48 | -229.95 | -252.44 | -347.05 | -383.66 | -444.64 | -515.32 | -597.23 | -692.17 |
| Free Cash Flow | 34.33 | 50.19 | 228.98 | 559.64 | -59.23 | 246.26 | 285.40 | 330.77 | 383.34 | 444.28 |
| WACC | ||||||||||
| PV LFCF | 182.71 | 191.71 | 201.14 | 211.04 | 221.42 | |||||
| SUM PV LFCF | 1,229.92 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 10.46 |
| Free cash flow (t + 1) | 453.16 |
| Terminal Value | 5,356.54 |
| Present Value of Terminal Value | 3,257.31 |
Intrinsic Value
| Enterprise Value | 4,487.23 |
|---|---|
| Net Debt | -378.54 |
| Equity Value | 4,865.78 |
| Shares Outstanding | 43.67 |
| Equity Value Per Share | 111.41 |