Discounted Cash Flow (DCF) Analysis Levered
K+S Aktiengesellschaft (SDF.DE)
21.3 €
-0.11 (-0.51%)
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 | 3,627 | 4,039.10 | 4,070.70 | 2,432.10 | 3,213.10 | 3,245.26 | 3,277.73 | 3,310.53 | 3,343.66 | 3,377.13 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 306.80 | 308.70 | 639.80 | 428.50 | 326.90 | 386.91 | 390.78 | 394.69 | 398.64 | 402.63 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -754.80 | -514.70 | -505.90 | -536.40 | -358.70 | -514.05 | -519.19 | -524.39 | -529.64 | -534.94 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -448 | -206 | 133.90 | -107.90 | -31.80 | -127.14 | -128.41 | -129.70 | -131 | -132.31 |
Weighted Average Cost Of Capital
| Share price | $ 21.3 |
|---|---|
| Beta | 0.959 |
| Diluted Shares Outstanding | 191.40 |
| Cost of Debt | |
| Tax Rate | -22.98 |
| After-tax Cost of Debt | 5.00% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.058 |
| Total Debt | - |
| Total Equity | 4,076.82 |
| Total Capital | 4,076.82 |
| Debt Weighting | 0.00 |
| Equity Weighting | 100.00 |
| 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 | 3,627 | 4,039.10 | 4,070.70 | 2,432.10 | 3,213.10 | 3,245.26 | 3,277.73 | 3,310.53 | 3,343.66 | 3,377.13 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 306.80 | 308.70 | 639.80 | 428.50 | 326.90 | 386.91 | 390.78 | 394.69 | 398.64 | 402.63 |
| Capital Expenditure | -754.80 | -514.70 | -505.90 | -536.40 | -358.70 | -514.05 | -519.19 | -524.39 | -529.64 | -534.94 |
| Free Cash Flow | -448 | -206 | 133.90 | -107.90 | -31.80 | -127.14 | -128.41 | -129.70 | -131 | -132.31 |
| WACC | ||||||||||
| PV LFCF | -117.66 | -109.97 | -102.79 | -96.07 | -89.80 | |||||
| SUM PV LFCF | -516.29 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.06 |
| Free cash flow (t + 1) | -134.95 |
| Terminal Value | -2,226.96 |
| Present Value of Terminal Value | -1,511.43 |
Intrinsic Value
| Enterprise Value | -2,027.71 |
|---|---|
| Net Debt | -390.80 |
| Equity Value | -1,636.91 |
| Shares Outstanding | 191.40 |
| Equity Value Per Share | -8.55 |