Discounted Cash Flow (DCF) Analysis Levered

Fiducial Real Estate SA (ORIA.PA)

189 €

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: 187.51 | 189 | 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 73.6777.2782.2979.9580.4082.2384.1086.0287.9889.98
Revenue (%)
Operating Cash Flow 37.6841.0543.2441.9742.5443.1344.1145.1246.1447.19
Operating Cash Flow (%)
Capital Expenditure -24.23-39.84-25.42-18.41-21.02-27.06-27.67-28.30-28.95-29.61
Capital Expenditure (%)
Free Cash Flow 13.451.2117.8323.5621.5316.0716.4416.8117.2017.59

Weighted Average Cost Of Capital

Share price $ 189
Beta 0.309
Diluted Shares Outstanding 2.41
Cost of Debt
Tax Rate 1.81
After-tax Cost of Debt 2.70%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.424
Total Debt 189.73
Total Equity 456.25
Total Capital 645.98
Debt Weighting 29.37
Equity Weighting 70.63
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 73.6777.2782.2979.9580.4082.2384.1086.0287.9889.98
Operating Cash Flow 37.6841.0543.2441.9742.5443.1344.1145.1246.1447.19
Capital Expenditure -24.23-39.84-25.42-18.41-21.02-27.06-27.67-28.30-28.95-29.61
Free Cash Flow 13.451.2117.8323.5621.5316.0716.4416.8117.2017.59
WACC
PV LFCF 15.3615.0214.6814.3514.03
SUM PV LFCF 73.45

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.62
Free cash flow (t + 1) 17.94
Terminal Value 684.72
Present Value of Terminal Value 546.31

Intrinsic Value

Enterprise Value 619.77
Net Debt 167.12
Equity Value 452.65
Shares Outstanding 2.41
Equity Value Per Share 187.51