Discounted Cash Flow (DCF) Analysis Levered

Fiducial Office Solutions (SACI.PA)

28 €

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: 102.34 | 28 | 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 180.63187.46193.23174.98191.64194.96198.34201.78205.28208.84
Revenue (%)
Operating Cash Flow 1.970.3612.390.3712.825.695.795.895.996.09
Operating Cash Flow (%)
Capital Expenditure -3.34-0.44-0.14-7.06-3.38-3.10-3.16-3.21-3.27-3.32
Capital Expenditure (%)
Free Cash Flow -1.37-0.0812.24-6.699.432.592.632.682.722.77

Weighted Average Cost Of Capital

Share price $ 28
Beta 0.091
Diluted Shares Outstanding 2.17
Cost of Debt
Tax Rate -0.71
After-tax Cost of Debt 1.55%
Risk-Free Rate
Market Risk Premium
Cost of Equity 3.322
Total Debt 8
Total Equity 60.74
Total Capital 68.74
Debt Weighting 11.64
Equity Weighting 88.36
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 180.63187.46193.23174.98191.64194.96198.34201.78205.28208.84
Operating Cash Flow 1.970.3612.390.3712.825.695.795.895.996.09
Capital Expenditure -3.34-0.44-0.14-7.06-3.38-3.10-3.16-3.21-3.27-3.32
Free Cash Flow -1.37-0.0812.24-6.699.432.592.632.682.722.77
WACC
PV LFCF 2.512.472.442.412.38
SUM PV LFCF 12.21

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 3.12
Free cash flow (t + 1) 2.83
Terminal Value 252.29
Present Value of Terminal Value 216.36

Intrinsic Value

Enterprise Value 228.57
Net Debt 6.57
Equity Value 222
Shares Outstanding 2.17
Equity Value Per Share 102.34