Discounted Cash Flow (DCF) Analysis Unlevered

ALBIS Leasing AG (ALG.DE)

2.16 €

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: -34.73 | 2.16 | overvalue

Operating Data

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 17.5718.5321.1021.9421.9723.2624.6326.0727.6029.22
Revenue (%)
EBITDA 4.414.355.213.764.105.085.375.696.026.37
EBITDA (%)
EBIT 4.314.283.701.931.973.864.094.334.584.85
EBIT (%)
Depreciation 0.100.071.511.832.131.221.291.361.441.53
Depreciation (%)

Balance Sheet Data

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Total Cash 28.1510.7310.435.022.6714.0814.9015.7816.7017.68
Total Cash (%)
Account Receivables ----------
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 3.272.141.151.882.342.552.702.863.023.20
Accounts Payable (%)
Capital Expenditure -0.23-0.15-8.56-0.78-0.08-2.17-2.30-2.43-2.57-2.73
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 2.16
Beta 0.394
Diluted Shares Outstanding 21.20
Cost of Debt
Tax Rate -63.66
After-tax Cost of Debt 0.33%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.349
Total Debt 197.68
Total Equity 45.78
Total Capital 243.46
Debt Weighting 81.20
Equity Weighting 18.80
Wacc

Build Up Free Cash

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 17.5718.5321.1021.9421.9723.2624.6326.0727.6029.22
EBITDA 4.414.355.213.764.105.085.375.696.026.37
EBIT 4.314.283.701.931.973.864.094.334.584.85
Tax Rate -33.52%-17.77%36.34%33.31%-63.66%-9.06%-9.06%-9.06%-9.06%-9.06%
EBIAT 5.765.042.351.293.234.214.464.724.995.29
Depreciation 0.100.071.511.832.131.221.291.361.441.53
Accounts Receivable ----------
Inventories ----------
Accounts Payable --1.13-0.990.730.460.210.150.160.170.18
Capital Expenditure -0.23-0.15-8.56-0.78-0.09-2.17-2.30-2.43-2.57-2.73
UFCF 5.623.84-5.683.075.733.463.603.814.034.27
WACC
PV UFCF 3.423.513.663.834.01
SUM PV UFCF 18.43

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 1.27
Free cash flow (t + 1) 4.35
Terminal Value -596.06
Present Value of Terminal Value -559.61

Intrinsic Value

Enterprise Value -541.19
Net Debt 195
Equity Value -736.19
Shares Outstanding 21.20
Equity Value Per Share -34.73