Discounted Cash Flow (DCF) Analysis Levered

SQLI SA (SQI.PA)

42 €

+0.40 (+0.96%)
All numbers are in Millions, Currency in USD
Stock DCF: 58.24 | 42 | undervalue

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 231.98238.74213.67225.38245.88250.17254.54258.99263.51268.11
Revenue (%)
Operating Cash Flow -4.556.3724.9215.9428.2815.4815.7516.0316.3116.59
Operating Cash Flow (%)
Capital Expenditure -6.19-3.10-1.93-2.46-4-3.80-3.86-3.93-4-4.07
Capital Expenditure (%)
Free Cash Flow -10.743.2622.9913.4824.2811.6811.8912.1012.3112.52

Weighted Average Cost Of Capital

Share price $ 42
Beta 0.648
Diluted Shares Outstanding 4.66
Cost of Debt
Tax Rate 30.74
After-tax Cost of Debt 6.77%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.344
Total Debt 45.69
Total Equity 195.70
Total Capital 241.39
Debt Weighting 18.93
Equity Weighting 81.07
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 231.98238.74213.67225.38245.88250.17254.54258.99263.51268.11
Operating Cash Flow -4.556.3724.9215.9428.2815.4815.7516.0316.3116.59
Capital Expenditure -6.19-3.10-1.93-2.46-4-3.80-3.86-3.93-4-4.07
Free Cash Flow -10.743.2622.9913.4824.2811.6811.8912.1012.3112.52
WACC
PV LFCF 10.9010.349.819.318.83
SUM PV LFCF 49.19

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.23
Free cash flow (t + 1) 12.96
Terminal Value 347.49
Present Value of Terminal Value 245.11

Intrinsic Value

Enterprise Value 294.30
Net Debt 22.94
Equity Value 271.35
Shares Outstanding 4.66
Equity Value Per Share 58.24