Discounted Cash Flow (DCF) Analysis Levered
Foncière Volta (SPEL.PA)
7.15 €
-1.15 (0.00%)
All numbers are in Millions, Currency in USD
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 | 6.30 | 101.10 | 7.09 | 8.17 | 7.19 | 32.60 | 147.86 | 670.68 | 3,042.24 | 13,799.71 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -2.07 | 82.11 | -4.40 | 4.38 | -1.54 | 1.21 | 5.49 | 24.90 | 112.93 | 512.27 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -5.94 | -12.71 | -3.90 | -6.43 | -4.80 | -20.03 | -90.86 | -412.14 | -1,869.46 | -8,479.96 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -8.01 | 69.40 | -8.29 | -2.05 | -6.34 | -18.82 | -85.37 | -387.24 | -1,756.53 | -7,967.69 |
Weighted Average Cost Of Capital
| Share price | $ 7.15 |
|---|---|
| Beta | 0.034 |
| Diluted Shares Outstanding | 10.54 |
| Cost of Debt | |
| Tax Rate | 36.31 |
| After-tax Cost of Debt | 2.31% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 4.717 |
| Total Debt | 87.07 |
| Total Equity | 75.39 |
| Total Capital | 162.46 |
| Debt Weighting | 53.59 |
| Equity Weighting | 46.41 |
| 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 | 6.30 | 101.10 | 7.09 | 8.17 | 7.19 | 32.60 | 147.86 | 670.68 | 3,042.24 | 13,799.71 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -2.07 | 82.11 | -4.40 | 4.38 | -1.54 | 1.21 | 5.49 | 24.90 | 112.93 | 512.27 |
| Capital Expenditure | -5.94 | -12.71 | -3.90 | -6.43 | -4.80 | -20.03 | -90.86 | -412.14 | -1,869.46 | -8,479.96 |
| Free Cash Flow | -8.01 | 69.40 | -8.29 | -2.05 | -6.34 | -18.82 | -85.37 | -387.24 | -1,756.53 | -7,967.69 |
| WACC | ||||||||||
| PV LFCF | -15.37 | -67.42 | -295.67 | -1,296.69 | -5,686.79 | |||||
| SUM PV LFCF | -8,714.15 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 3.43 |
| Free cash flow (t + 1) | -8,127.04 |
| Terminal Value | -568,324.81 |
| Present Value of Terminal Value | -480,135.69 |
Intrinsic Value
| Enterprise Value | -488,849.84 |
|---|---|
| Net Debt | 81.23 |
| Equity Value | -488,931.07 |
| Shares Outstanding | 10.54 |
| Equity Value Per Share | -46,368.07 |