Discounted Cash Flow (DCF) Analysis Levered
Hermès International Société en com... (RMS.PA)
1691.5 €
-5.00 (-0.29%)
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 | 5,549.10 | 5,966.10 | 6,883.40 | 6,389.40 | 8,982 | 10,245.99 | 11,687.85 | 13,332.62 | 15,208.84 | 17,349.10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 1,605.60 | 1,759.40 | 2,087.30 | 1,642.40 | 3,405 | 3,122.20 | 3,561.57 | 4,062.78 | 4,634.51 | 5,286.70 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -265.30 | -312.30 | -478 | -448.40 | -538.42 | -614.19 | -700.62 | -799.21 | -911.68 | -1,039.98 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 1,340.30 | 1,447.10 | 1,609.30 | 1,194 | 2,866.58 | 2,508.02 | 2,860.96 | 3,263.56 | 3,722.83 | 4,246.72 |
Weighted Average Cost Of Capital
| Share price | $ 1,691.5 |
|---|---|
| Beta | 0.679 |
| Diluted Shares Outstanding | 79.87 |
| Cost of Debt | |
| Tax Rate | 28.82 |
| After-tax Cost of Debt | 1.27% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 6.739 |
| Total Debt | 1,802 |
| Total Equity | 135,095.59 |
| Total Capital | 136,897.59 |
| Debt Weighting | 1.32 |
| Equity Weighting | 98.68 |
| 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 | 5,549.10 | 5,966.10 | 6,883.40 | 6,389.40 | 8,982 | 10,245.99 | 11,687.85 | 13,332.62 | 15,208.84 | 17,349.10 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 1,605.60 | 1,759.40 | 2,087.30 | 1,642.40 | 3,405 | 3,122.20 | 3,561.57 | 4,062.78 | 4,634.51 | 5,286.70 |
| Capital Expenditure | -265.30 | -312.30 | -478 | -448.40 | -538.42 | -614.19 | -700.62 | -799.21 | -911.68 | -1,039.98 |
| Free Cash Flow | 1,340.30 | 1,447.10 | 1,609.30 | 1,194 | 2,866.58 | 2,508.02 | 2,860.96 | 3,263.56 | 3,722.83 | 4,246.72 |
| WACC | ||||||||||
| PV LFCF | 2,066.35 | 2,209.74 | 2,363.09 | 2,527.08 | 2,702.45 | |||||
| SUM PV LFCF | 13,504.81 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 6.67 |
| Free cash flow (t + 1) | 4,331.66 |
| Terminal Value | 92,754.93 |
| Present Value of Terminal Value | 67,162.30 |
Intrinsic Value
| Enterprise Value | 80,667.10 |
|---|---|
| Net Debt | -4,894 |
| Equity Value | 85,561.10 |
| Shares Outstanding | 79.87 |
| Equity Value Per Share | 1,071.29 |