Discounted Cash Flow (DCF) Analysis Levered
B.V. Delftsch Aardewerkfabriek "De ... (PORF.AS)
11.5 €
+0.50 (+4.55%)
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 | 5.43 | 6.20 | 7.82 | 3.91 | 4.94 | 5.14 | 5.35 | 5.57 | 5.81 | 6.05 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 0.13 | -0.04 | 0.06 | -1.33 | 1.50 | -0.01 | -0.01 | -0.01 | -0.01 | -0.01 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -0.96 | -0.90 | -0.57 | -0.13 | -0.80 | -0.61 | -0.63 | -0.66 | -0.69 | -0.71 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -0.83 | -0.94 | -0.51 | -1.46 | 0.69 | -0.62 | -0.65 | -0.67 | -0.70 | -0.73 |
Weighted Average Cost Of Capital
| Share price | $ 11.5 |
|---|---|
| Beta | 0.208 |
| Diluted Shares Outstanding | 0.96 |
| Cost of Debt | |
| Tax Rate | -17.84 |
| After-tax Cost of Debt | 1.85% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 4.681 |
| Total Debt | 15.88 |
| Total Equity | 10.99 |
| Total Capital | 26.87 |
| Debt Weighting | 59.10 |
| Equity Weighting | 40.90 |
| 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 | 5.43 | 6.20 | 7.82 | 3.91 | 4.94 | 5.14 | 5.35 | 5.57 | 5.81 | 6.05 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 0.13 | -0.04 | 0.06 | -1.33 | 1.50 | -0.01 | -0.01 | -0.01 | -0.01 | -0.01 |
| Capital Expenditure | -0.96 | -0.90 | -0.57 | -0.13 | -0.80 | -0.61 | -0.63 | -0.66 | -0.69 | -0.71 |
| Free Cash Flow | -0.83 | -0.94 | -0.51 | -1.46 | 0.69 | -0.62 | -0.65 | -0.67 | -0.70 | -0.73 |
| WACC | ||||||||||
| PV LFCF | -0.60 | -0.61 | -0.62 | -0.62 | -0.63 | |||||
| SUM PV LFCF | -3.08 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 3.01 |
| Free cash flow (t + 1) | -0.74 |
| Terminal Value | -73.66 |
| Present Value of Terminal Value | -63.51 |
Intrinsic Value
| Enterprise Value | -66.59 |
|---|---|
| Net Debt | 11.85 |
| Equity Value | -78.44 |
| Shares Outstanding | 0.96 |
| Equity Value Per Share | -82.08 |