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
Stock DCF: -8.55 | 21.3 | overvalue

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 3,6274,039.104,070.702,432.103,213.103,245.263,277.733,310.533,343.663,377.13
Revenue (%)
Operating Cash Flow 306.80308.70639.80428.50326.90386.91390.78394.69398.64402.63
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 -448-206133.90-107.90-31.80-127.14-128.41-129.70-131-132.31

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 3,6274,039.104,070.702,432.103,213.103,245.263,277.733,310.533,343.663,377.13
Operating Cash Flow 306.80308.70639.80428.50326.90386.91390.78394.69398.64402.63
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 -448-206133.90-107.90-31.80-127.14-128.41-129.70-131-132.31
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