Discounted Cash Flow (DCF) Analysis Levered

Saputo Inc. (SAP.TO)

$31.02

-0.87 (-2.73%)
All numbers are in Millions, Currency in USD
Stock DCF: 44.30 | 31.02 | undervalue

Free Cash Flow

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 11,542.5013,501.9014,943.5014,293.9015,03516,105.8817,253.0318,481.8819,798.2721,208.41
Revenue (%)
Operating Cash Flow 809.10884.501,036.901,078.106931,051.751,126.661,206.911,292.871,384.96
Operating Cash Flow (%)
Capital Expenditure -344-436-576.30-433-498-528.52-566.16-606.48-649.68-695.95
Capital Expenditure (%)
Free Cash Flow 465.10448.50460.60645.10195523.23560.50600.42643.19689

Weighted Average Cost Of Capital

Share price $ 31.02
Beta 0.456
Diluted Shares Outstanding 411.39
Cost of Debt
Tax Rate 32.35
After-tax Cost of Debt 1.42%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.955
Total Debt 4,245
Total Equity 12,761.18
Total Capital 17,006.18
Debt Weighting 24.96
Equity Weighting 75.04
Wacc

Build Up Free Cash Flow

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 11,542.5013,501.9014,943.5014,293.9015,03516,105.8817,253.0318,481.8819,798.2721,208.41
Operating Cash Flow 809.10884.501,036.901,078.106931,051.751,126.661,206.911,292.871,384.96
Capital Expenditure -344-436-576.30-433-498-528.52-566.16-606.48-649.68-695.95
Free Cash Flow 465.10448.50460.60645.10195523.23560.50600.42643.19689
WACC
PV LFCF 499.17510.14521.35532.80544.50
SUM PV LFCF 2,607.96

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.82
Free cash flow (t + 1) 702.78
Terminal Value 24,921.31
Present Value of Terminal Value 19,694.73

Intrinsic Value

Enterprise Value 22,302.69
Net Debt 4,080
Equity Value 18,222.69
Shares Outstanding 411.39
Equity Value Per Share 44.30