Discounted Cash Flow (DCF) Analysis Levered

Surteco Group SE (SUR.DE)

20.6 €

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: 75.34 | 20.6 | 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 689.65698.98675.27626.99757.06778.93801.44824.59848.41872.92
Revenue (%)
Operating Cash Flow 82.9060.7084.0482.6643.7581.1883.5385.9488.4390.98
Operating Cash Flow (%)
Capital Expenditure -42.71-50-36.81-38.42-33.10-45.64-46.96-48.31-49.71-51.15
Capital Expenditure (%)
Free Cash Flow 40.1910.7047.2344.2410.6535.5436.5737.6338.7139.83

Weighted Average Cost Of Capital

Share price $ 20.6
Beta 0.762
Diluted Shares Outstanding 15.51
Cost of Debt
Tax Rate 31.68
After-tax Cost of Debt 1.46%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.128
Total Debt 225.61
Total Equity 319.42
Total Capital 545.03
Debt Weighting 41.39
Equity Weighting 58.61
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 689.65698.98675.27626.99757.06778.93801.44824.59848.41872.92
Operating Cash Flow 82.9060.7084.0482.6643.7581.1883.5385.9488.4390.98
Capital Expenditure -42.71-50-36.81-38.42-33.10-45.64-46.96-48.31-49.71-51.15
Free Cash Flow 40.1910.7047.2344.2410.6535.5436.5737.6338.7139.83
WACC
PV LFCF 33.9233.3132.7132.1231.54
SUM PV LFCF 163.60

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.78
Free cash flow (t + 1) 40.63
Terminal Value 1,461.52
Present Value of Terminal Value 1,157.21

Intrinsic Value

Enterprise Value 1,320.81
Net Debt 152.56
Equity Value 1,168.26
Shares Outstanding 15.51
Equity Value Per Share 75.34