Discounted Cash Flow (DCF) Analysis Levered

Videlio SA (VDLO.PA)

2.6 €

0.00 (-%)

All numbers are in Millions, Currency in USD

Stock DCF: 6.22 | 2.6 | undervalue

Free Cash Flow

Year A/P	2016 Actual	2017 Actual	2018 Actual	2019 Actual	2020 Actual	2021 Projected	2022 Projected	2023 Projected	2024 Projected	2025 Projected
Revenue	234.13	252.98	236.76	246.78	201.41	195.10	189	183.09	177.36	171.81
Revenue (%)
Operating Cash Flow	9.01	3.07	4.61	23.27	4.31	7.25	7.02	6.80	6.59	6.38
Operating Cash Flow (%)
Capital Expenditure	-2.47	-6.73	-1.68	-2.62	-1.88	-2.50	-2.43	-2.35	-2.28	-2.21
Capital Expenditure (%)
Free Cash Flow	6.53	-3.65	2.94	20.64	2.43	4.75	4.60	4.45	4.31	4.18

Weighted Average Cost Of Capital

Share price	$ 2.6
Beta	0.525
Diluted Shares Outstanding	24.50
Cost of Debt
Tax Rate	-1,975.73
After-tax Cost of Debt	2.34%
Risk-Free Rate
Market Risk Premium
Cost of Equity	5.935
Total Debt	36.72
Total Equity	63.69
Total Capital	100.42
Debt Weighting	36.57
Equity Weighting	63.43
Wacc

Build Up Free Cash Flow

Year A/P	2016 Actual	2017 Actual	2018 Actual	2019 Actual	2020 Actual	2021 Projected	2022 Projected	2023 Projected	2024 Projected	2025 Projected
Revenue	234.13	252.98	236.76	246.78	201.41	195.10	189	183.09	177.36	171.81
Operating Cash Flow	9.01	3.07	4.61	23.27	4.31	7.25	7.02	6.80	6.59	6.38
Capital Expenditure	-2.47	-6.73	-1.68	-2.62	-1.88	-2.50	-2.43	-2.35	-2.28	-2.21
Free Cash Flow	6.53	-3.65	2.94	20.64	2.43	4.75	4.60	4.45	4.31	4.18
WACC
PV LFCF						4.54	4.20	3.89	3.60	3.33
SUM PV LFCF										19.56

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%)	4.62
Free cash flow (t + 1)	4.26
Terminal Value	162.69
Present Value of Terminal Value	129.80

Intrinsic Value

Enterprise Value	149.36
Net Debt	-3
Equity Value	152.36
Shares Outstanding	24.50
Equity Value Per Share	6.22