Discounted Cash Flow (DCF) Analysis Levered

Trigano S.A. (TRI.PA)

149.9 €

-0.10 (-0.07%)
All numbers are in Millions, Currency in USD
Stock DCF: 213.42 | 149.9 | undervalue

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 2,328.162,184.022,933.603,177.203,480.203,880.174,326.104,823.295,377.615,995.64
Revenue (%)
Operating Cash Flow 134.97286.30388.80171.50201.70336.44375.10418.21466.27519.86
Operating Cash Flow (%)
Capital Expenditure -42.70-47.26-39.70-61.20-53.60-68.43-76.29-85.06-94.84-105.74
Capital Expenditure (%)
Free Cash Flow 92.27239.04349.10110.30148.10268.01298.81333.15371.44414.12

Weighted Average Cost Of Capital

Share price $ 149.9
Beta 1.314
Diluted Shares Outstanding 19.32
Cost of Debt
Tax Rate 25.58
After-tax Cost of Debt 3.19%
Risk-Free Rate
Market Risk Premium
Cost of Equity 10.487
Total Debt 164.20
Total Equity 2,895.72
Total Capital 3,059.92
Debt Weighting 5.37
Equity Weighting 94.63
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 2,328.162,184.022,933.603,177.203,480.203,880.174,326.104,823.295,377.615,995.64
Operating Cash Flow 134.97286.30388.80171.50201.70336.44375.10418.21466.27519.86
Capital Expenditure -42.70-47.26-39.70-61.20-53.60-68.43-76.29-85.06-94.84-105.74
Free Cash Flow 92.27239.04349.10110.30148.10268.01298.81333.15371.44414.12
WACC
PV LFCF 182.39184.70187.03189.40191.79
SUM PV LFCF 1,248.29

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 10.10
Free cash flow (t + 1) 416.20
Terminal Value 4,335.37
Present Value of Terminal Value 2,679.72

Intrinsic Value

Enterprise Value 3,928.01
Net Debt -194.80
Equity Value 4,122.81
Shares Outstanding 19.32
Equity Value Per Share 213.42