Discounted Cash Flow (DCF) Analysis Levered

SergeFerrari Group SA (SEFER.PA)

10.7 €

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: 52.62 | 10.7 | 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 172.14184.90189.05195.30285.88328.30377432.94497.17570.93
Revenue (%)
Operating Cash Flow 8.146.7921.4326.9037.3930.5935.1340.3446.3353.20
Operating Cash Flow (%)
Capital Expenditure -10.06-7.72-8.37-7.93-9-14.22-16.33-18.75-21.53-24.72
Capital Expenditure (%)
Free Cash Flow -1.92-0.9313.0618.9728.3916.3718.8021.5924.8028.47

Weighted Average Cost Of Capital

Share price $ 10.7
Beta 1.084
Diluted Shares Outstanding 11.83
Cost of Debt
Tax Rate 33.15
After-tax Cost of Debt 1.86%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.877
Total Debt 101.68
Total Equity 126.63
Total Capital 228.31
Debt Weighting 44.53
Equity Weighting 55.47
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 172.14184.90189.05195.30285.88328.30377432.94497.17570.93
Operating Cash Flow 8.146.7921.4326.9037.3930.5935.1340.3446.3353.20
Capital Expenditure -10.06-7.72-8.37-7.93-9-14.22-16.33-18.75-21.53-24.72
Free Cash Flow -1.92-0.9313.0618.9728.3916.3718.8021.5924.8028.47
WACC
PV LFCF 15.4816.8118.2619.8321.53
SUM PV LFCF 91.91

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.75
Free cash flow (t + 1) 29.04
Terminal Value 774.52
Present Value of Terminal Value 585.64

Intrinsic Value

Enterprise Value 677.55
Net Debt 54.81
Equity Value 622.74
Shares Outstanding 11.83
Equity Value Per Share 52.62