Discounted Cash Flow (DCF) Analysis Levered

Neways Electronics International N.... (NEWAY.AS)

12.75 €

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: -2.30 | 12.75 | overvalue

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 438.69506.82533.45478.57469.54479.64489.97500.51511.29522.29
Revenue (%)
Operating Cash Flow 3.187.5729.4440.87-299.699.9010.1110.3310.55
Operating Cash Flow (%)
Capital Expenditure -6.60-12.08-13-3.32-4.36-7.63-7.79-7.96-8.13-8.30
Capital Expenditure (%)
Free Cash Flow -3.42-4.5116.4437.55-33.362.062.112.152.202.25

Weighted Average Cost Of Capital

Share price $ 12.75
Beta 0.976
Diluted Shares Outstanding 12.25
Cost of Debt
Tax Rate 19.73
After-tax Cost of Debt 3.44%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.890
Total Debt 72.44
Total Equity 156.14
Total Capital 228.58
Debt Weighting 31.69
Equity Weighting 68.31
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 438.69506.82533.45478.57469.54479.64489.97500.51511.29522.29
Operating Cash Flow 3.187.5729.4440.87-299.699.9010.1110.3310.55
Capital Expenditure -6.60-12.08-13-3.32-4.36-7.63-7.79-7.96-8.13-8.30
Free Cash Flow -3.42-4.5116.4437.55-33.362.062.112.152.202.25
WACC
PV LFCF 1.931.841.751.671.59
SUM PV LFCF 8.77

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.16
Free cash flow (t + 1) 2.29
Terminal Value 44.44
Present Value of Terminal Value 31.45

Intrinsic Value

Enterprise Value 40.22
Net Debt 68.44
Equity Value -28.22
Shares Outstanding 12.25
Equity Value Per Share -2.30