Discounted Cash Flow (DCF) Analysis Levered

Vastned Belgium (VASTB.BR)

30.5 €

+0.40 (+0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: Infinity | 30.5 | 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 20.4018.1118.0418.6520.3820.4420.4920.5420.6020.65
Revenue (%)
Operating Cash Flow 13.8811.7014.1613.1914.3614.4014.4414.4814.5114.55
Operating Cash Flow (%)
Capital Expenditure -0.25-0.04-0.05-0.01-0.09-0.09-0.09-0.09-0.09-0.09
Capital Expenditure (%)
Free Cash Flow 13.6411.6614.1113.1814.2814.3114.3514.3914.4314.46

Weighted Average Cost Of Capital

Share price $ 30.5
Beta 0.786
Diluted Shares Outstanding -
Cost of Debt
Tax Rate 0.83
After-tax Cost of Debt 4.24%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.983
Total Debt 78.38
Total Equity -
Total Capital 78.38
Debt Weighting 100.00
Equity Weighting 0.00
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 20.4018.1118.0418.6520.3820.4420.4920.5420.6020.65
Operating Cash Flow 13.8811.7014.1613.1914.3614.4014.4414.4814.5114.55
Capital Expenditure -0.25-0.04-0.05-0.01-0.09-0.09-0.09-0.09-0.09-0.09
Free Cash Flow 13.6411.6614.1113.1814.2814.3114.3514.3914.4314.46
WACC
PV LFCF 13.7313.2112.7012.2211.75
SUM PV LFCF 63.61

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.24
Free cash flow (t + 1) 14.53
Terminal Value 388.64
Present Value of Terminal Value 315.77

Intrinsic Value

Enterprise Value 379.38
Net Debt 77.95
Equity Value 301.43
Shares Outstanding -
Equity Value Per Share Infinity