Discounted Cash Flow (DCF) Analysis Levered

Rothschild & Co SCA (ROTH.PA)

33.25 €

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: 506.66 | 33.25 | undervalue

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 1,727.911,995.511,941.351,834.512,816.053,243.913,736.774,304.514,958.525,711.89
Revenue (%)
Operating Cash Flow 317889.22-177.67825.691,392.62961.601,107.701,2761,469.871,693.19
Operating Cash Flow (%)
Capital Expenditure -13.15-21.85-20.59-38.81-25.43-38.51-44.36-51.10-58.86-67.81
Capital Expenditure (%)
Free Cash Flow 303.85867.37-198.26786.881,367.19923.091,063.341,224.901,4111,625.39

Weighted Average Cost Of Capital

Share price $ 33.25
Beta 0.961
Diluted Shares Outstanding 72.25
Cost of Debt
Tax Rate 32.28
After-tax Cost of Debt 0.61%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.419
Total Debt 736.60
Total Equity 2,402.45
Total Capital 3,139.04
Debt Weighting 23.47
Equity Weighting 76.53
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 1,727.911,995.511,941.351,834.512,816.053,243.913,736.774,304.514,958.525,711.89
Operating Cash Flow 317889.22-177.67825.691,392.62961.601,107.701,2761,469.871,693.19
Capital Expenditure -13.15-21.85-20.59-38.81-25.43-38.51-44.36-51.10-58.86-67.81
Free Cash Flow 303.85867.37-198.26786.881,367.19923.091,063.341,224.901,4111,625.39
WACC
PV LFCF 629.43680.23735.14794.48858.60
SUM PV LFCF 5,087.85

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.59
Free cash flow (t + 1) 1,657.89
Terminal Value 36,119.68
Present Value of Terminal Value 26,251.95

Intrinsic Value

Enterprise Value 31,339.80
Net Debt -5,268.51
Equity Value 36,608.31
Shares Outstanding 72.25
Equity Value Per Share 506.66