Discounted Cash Flow (DCF) Analysis Levered
Profarma Distribuidora de Produtos ... (PFRM3.SA)
$3.65
-0.10 (-2.67%)
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 | 4,100.71 | 4,271.13 | 4,801.29 | 5,481.34 | 6,413.20 | 7,178.50 | 8,035.13 | 8,993.98 | 10,067.25 | 11,268.60 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -51.83 | -55.84 | 126.92 | 39.34 | 107.58 | 35.42 | 39.65 | 44.38 | 49.68 | 55.61 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -51.52 | -15.59 | -27.41 | -45.16 | -13.55 | -46.34 | -51.87 | -58.06 | -64.99 | -72.74 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -103.35 | -71.44 | 99.51 | -5.82 | 94.03 | -10.92 | -12.22 | -13.68 | -15.31 | -17.14 |
Weighted Average Cost Of Capital
| Share price | $ 3.65 |
|---|---|
| Beta | 1.138 |
| Diluted Shares Outstanding | 122.61 |
| Cost of Debt | |
| Tax Rate | -60.41 |
| After-tax Cost of Debt | 5.47% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.902 |
| Total Debt | 946.88 |
| Total Equity | 447.53 |
| Total Capital | 1,394.41 |
| Debt Weighting | 67.91 |
| Equity Weighting | 32.09 |
| 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 | 4,100.71 | 4,271.13 | 4,801.29 | 5,481.34 | 6,413.20 | 7,178.50 | 8,035.13 | 8,993.98 | 10,067.25 | 11,268.60 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -51.83 | -55.84 | 126.92 | 39.34 | 107.58 | 35.42 | 39.65 | 44.38 | 49.68 | 55.61 |
| Capital Expenditure | -51.52 | -15.59 | -27.41 | -45.16 | -13.55 | -46.34 | -51.87 | -58.06 | -64.99 | -72.74 |
| Free Cash Flow | -103.35 | -71.44 | 99.51 | -5.82 | 94.03 | -10.92 | -12.22 | -13.68 | -15.31 | -17.14 |
| WACC | ||||||||||
| PV LFCF | -10.24 | -10.76 | -11.30 | -11.87 | -12.47 | |||||
| SUM PV LFCF | -56.64 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 6.57 |
| Free cash flow (t + 1) | -17.48 |
| Terminal Value | -382.47 |
| Present Value of Terminal Value | -278.24 |
Intrinsic Value
| Enterprise Value | -334.88 |
|---|---|
| Net Debt | 758.37 |
| Equity Value | -1,093.24 |
| Shares Outstanding | 122.61 |
| Equity Value Per Share | -8.92 |