Discounted Cash Flow (DCF) Analysis Unlevered
DBT SA (ALDBT.PA)
0.0006 €
-0.00 (0.00%)
All numbers are in Millions, Currency in USD
Operating Data
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 9.22 | 9.21 | 3.96 | 4.33 | 9.85 | 11.82 | 14.18 | 17.01 | 20.40 | 24.47 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| EBITDA | 0.32 | -0.64 | -5.38 | -5.85 | -3.81 | -7.40 | -8.88 | -10.65 | -12.78 | -15.33 |
| EBITDA (%) | ||||||||||
| EBIT | -0.18 | -0.84 | -6.14 | -6.46 | -4.83 | -8.61 | -10.33 | -12.39 | -14.87 | -17.83 |
| EBIT (%) | ||||||||||
| Depreciation | 0.49 | 0.20 | 0.76 | 0.62 | 1.02 | 1.21 | 1.45 | 1.74 | 2.09 | 2.51 |
| Depreciation (%) |
Balance Sheet Data
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Total Cash | 0.51 | 0.30 | 2.36 | 0.22 | 1.81 | 2.17 | 2.60 | 3.12 | 3.74 | 4.49 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Cash (%) | ||||||||||
| Account Receivables | - | - | 3.04 | 3.28 | 5.21 | 8.10 | 9.72 | 11.66 | 13.99 | 16.78 |
| Account Receivables (%) | ||||||||||
| Inventories | 5.87 | 5.07 | 4.89 | 5.12 | 6.34 | 10.04 | 12.04 | 14.44 | 17.32 | 20.78 |
| Inventories (%) | ||||||||||
| Accounts Payable | 3.55 | 3.07 | 2.17 | 1.87 | 3.22 | 4.79 | 5.75 | 6.89 | 8.27 | 9.92 |
| Accounts Payable (%) | ||||||||||
| Capital Expenditure | -1.63 | -0.99 | -1.06 | -0.44 | -5.42 | -2.84 | -3.41 | -4.09 | -4.91 | -5.89 |
| Capital Expenditure (%) |
Weighted Average Cost Of Capital
| Share price | $ 0.0,006 |
|---|---|
| Beta | 1.637 |
| Diluted Shares Outstanding | 632.04 |
| Cost of Debt | |
| Tax Rate | 0.32 |
| After-tax Cost of Debt | 14.22% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 12.353 |
| Total Debt | 6.15 |
| Total Equity | 0.38 |
| Total Capital | 6.53 |
| Debt Weighting | 94.19 |
| Equity Weighting | 5.81 |
| Wacc |
Build Up Free Cash
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 9.22 | 9.21 | 3.96 | 4.33 | 9.85 | 11.82 | 14.18 | 17.01 | 20.40 | 24.47 |
|---|---|---|---|---|---|---|---|---|---|---|
| EBITDA | 0.32 | -0.64 | -5.38 | -5.85 | -3.81 | -7.40 | -8.88 | -10.65 | -12.78 | -15.33 |
| EBIT | -0.18 | -0.84 | -6.14 | -6.46 | -4.83 | -8.61 | -10.33 | -12.39 | -14.87 | -17.83 |
| Tax Rate | 1.44% | -0.30% | 0.03% | -0.05% | 0.32% | 0.29% | 0.29% | 0.29% | 0.29% | 0.29% |
| EBIAT | -0.18 | -0.84 | -6.14 | -6.46 | -4.82 | -8.59 | -10.30 | -12.36 | -14.82 | -17.78 |
| Depreciation | 0.49 | 0.20 | 0.76 | 0.62 | 1.02 | 1.21 | 1.45 | 1.74 | 2.09 | 2.51 |
| Accounts Receivable | - | - | - | -0.24 | -1.93 | -2.89 | -1.62 | -1.94 | -2.33 | -2.79 |
| Inventories | - | 0.81 | 0.18 | -0.23 | -1.22 | -3.70 | -2 | -2.40 | -2.88 | -3.46 |
| Accounts Payable | - | -0.49 | -0.89 | -0.30 | 1.34 | 1.57 | 0.96 | 1.15 | 1.38 | 1.65 |
| Capital Expenditure | -1.63 | -0.99 | -1.06 | -0.44 | -5.42 | -2.84 | -3.41 | -4.09 | -4.91 | -5.89 |
| UFCF | -1.32 | -1.31 | -7.16 | -7.06 | -11.01 | -15.24 | -14.93 | -17.90 | -21.48 | -25.76 |
| WACC | ||||||||||
| PV UFCF | -13.36 | -11.46 | -12.05 | -12.66 | -13.31 | |||||
| SUM PV UFCF | -62.84 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 14.12 |
| Free cash flow (t + 1) | -26.28 |
| Terminal Value | -216.81 |
| Present Value of Terminal Value | -112.02 |
Intrinsic Value
| Enterprise Value | -174.85 |
|---|---|
| Net Debt | 4.35 |
| Equity Value | -179.21 |
| Shares Outstanding | 632.04 |
| Equity Value Per Share | -0.28 |