Discounted Cash Flow (DCF) Analysis Levered

Sofina Société Anonyme (SOF.BR)

215 €

+0.20 (+0.09%)
All numbers are in Millions, Currency in USD
Stock DCF: -203.31 | 215 | overvalue

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 898.751,238.321,421.942,651.51-1,827.82-1,691.40-1,565.17-1,448.36-1,340.27-1,240.24
Revenue (%)
Operating Cash Flow 861.1460.72-65.30-551.34-1,871.53-601.21-556.34-514.82-476.40-440.84
Operating Cash Flow (%)
Capital Expenditure -0.08-0.97-0.42-0.49-0.130.430.400.370.340.32
Capital Expenditure (%)
Free Cash Flow 861.0659.75-65.72-551.83-1,871.66-600.78-555.94-514.45-476.05-440.52

Weighted Average Cost Of Capital

Share price $ 215
Beta 1.070
Diluted Shares Outstanding 33.83
Cost of Debt
Tax Rate 0.08
After-tax Cost of Debt 4.28%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.335
Total Debt 871.14
Total Equity 7,274.21
Total Capital 8,145.35
Debt Weighting 10.69
Equity Weighting 89.31
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 898.751,238.321,421.942,651.51-1,827.82-1,691.40-1,565.17-1,448.36-1,340.27-1,240.24
Operating Cash Flow 861.1460.72-65.30-551.34-1,871.53-601.21-556.34-514.82-476.40-440.84
Capital Expenditure -0.08-0.97-0.42-0.49-0.130.430.400.370.340.32
Free Cash Flow 861.0659.75-65.72-551.83-1,871.66-600.78-555.94-514.45-476.05-440.52
WACC
PV LFCF -362.39-308.25-262.20-223.03-189.71
SUM PV LFCF -2,050.46

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.79
Free cash flow (t + 1) -449.34
Terminal Value -6,617.60
Present Value of Terminal Value -4,342.66

Intrinsic Value

Enterprise Value -6,393.12
Net Debt 485.65
Equity Value -6,878.78
Shares Outstanding 33.83
Equity Value Per Share -203.31