Discounted Cash Flow (DCF) Analysis Unlevered
DBT SA (ALDBT.PA)
0.0014 €
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 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 9.22 | 9.21 | 3.96 | 4.33 | 3.64 | 3.06 | 2.57 | 2.16 | 1.82 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | |||||||||
| EBITDA | 0.27 | -0.34 | -5.91 | -5.59 | -2.54 | -2.13 | -1.79 | -1.51 | -1.27 |
| EBITDA (%) | |||||||||
| EBIT | -0.22 | -0.54 | -6.67 | -6.21 | -2.91 | -2.45 | -2.06 | -1.73 | -1.45 |
| EBIT (%) | |||||||||
| Depreciation | 0.49 | 0.20 | 0.76 | 0.62 | 0.37 | 0.31 | 0.26 | 0.22 | 0.19 |
| Depreciation (%) |
Balance Sheet Data
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Total Cash | 0.51 | 0.30 | 2.36 | 0.22 | 0.67 | 0.56 | 0.47 | 0.40 | 0.33 |
|---|---|---|---|---|---|---|---|---|---|
| Total Cash (%) | |||||||||
| Account Receivables | - | - | - | - | - | - | - | - | - |
| Account Receivables (%) | |||||||||
| Inventories | 5.87 | 5.07 | 4.89 | 5.12 | 3.28 | 2.75 | 2.32 | 1.95 | 1.64 |
| Inventories (%) | |||||||||
| Accounts Payable | 3.55 | 3.07 | 2.17 | 1.87 | 1.55 | 1.30 | 1.09 | 0.92 | 0.77 |
| Accounts Payable (%) | |||||||||
| Capital Expenditure | -1.63 | -0.99 | -1.06 | -0.44 | -0.59 | -0.50 | -0.42 | -0.35 | -0.30 |
| Capital Expenditure (%) |
Weighted Average Cost Of Capital
| Share price | $ 0.0,014 |
|---|---|
| Beta | 1.721 |
| Diluted Shares Outstanding | 358.03 |
| Cost of Debt | |
| Tax Rate | -0.05 |
| After-tax Cost of Debt | 4.31% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 11.908 |
| Total Debt | 1.39 |
| Total Equity | 0.50 |
| Total Capital | 1.89 |
| Debt Weighting | 73.54 |
| Equity Weighting | 26.46 |
| Wacc |
Build Up Free Cash
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 9.22 | 9.21 | 3.96 | 4.33 | 3.64 | 3.06 | 2.57 | 2.16 | 1.82 |
|---|---|---|---|---|---|---|---|---|---|
| EBITDA | 0.27 | -0.34 | -5.91 | -5.59 | -2.54 | -2.13 | -1.79 | -1.51 | -1.27 |
| EBIT | -0.22 | -0.54 | -6.67 | -6.21 | -2.91 | -2.45 | -2.06 | -1.73 | -1.45 |
| Tax Rate | 1.44% | -0.30% | 0.03% | -0.05% | 0.28% | 0.28% | 0.28% | 0.28% | 0.28% |
| EBIAT | -0.22 | -0.54 | -6.66 | -6.21 | -2.90 | -2.44 | -2.05 | -1.72 | -1.45 |
| Depreciation | 0.49 | 0.20 | 0.76 | 0.62 | 0.37 | 0.31 | 0.26 | 0.22 | 0.19 |
| Accounts Receivable | - | - | - | - | - | - | - | - | - |
| Inventories | - | 0.81 | 0.18 | -0.23 | 1.84 | 0.52 | 0.44 | 0.37 | 0.31 |
| Accounts Payable | - | -0.49 | -0.89 | -0.30 | -0.33 | -0.25 | -0.21 | -0.17 | -0.15 |
| Capital Expenditure | -1.63 | -0.99 | -1.06 | -0.44 | -0.59 | -0.50 | -0.42 | -0.35 | -0.30 |
| UFCF | -1.36 | -1.01 | -7.68 | -6.56 | -1.61 | -2.35 | -1.98 | -1.66 | -1.40 |
| WACC | |||||||||
| PV UFCF | -1.61 | -2.21 | -1.75 | -1.38 | -1.09 | ||||
| SUM PV UFCF | -7.57 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 6.32 |
| Free cash flow (t + 1) | -1.42 |
| Terminal Value | -32.96 |
| Present Value of Terminal Value | -24.26 |
Intrinsic Value
| Enterprise Value | -31.83 |
|---|---|
| Net Debt | 1.19 |
| Equity Value | -33.02 |
| Shares Outstanding | 358.03 |
| Equity Value Per Share | -0.09 |