Discounted Cash Flow (DCF) Analysis Unlevered
Ikonisys S.A. (ALIKO.PA)
1.815 €
-0.04 (-2.42%)
All numbers are in Millions, Currency in USD
Operating Data
Year A/P | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 0.39 | 0.37 | 0.35 | 0.33 | 0.31 | 0.29 | 0.28 |
---|---|---|---|---|---|---|---|
Revenue (%) | |||||||
EBITDA | 0.27 | -0.48 | -0.11 | -0.10 | -0.10 | -0.09 | -0.09 |
EBITDA (%) | |||||||
EBIT | 0.20 | -0.56 | -0.18 | -0.17 | -0.16 | -0.15 | -0.14 |
EBIT (%) | |||||||
Depreciation | 0.07 | 0.08 | 0.07 | 0.07 | 0.06 | 0.06 | 0.06 |
Depreciation (%) |
Balance Sheet Data
Year A/P | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Total Cash | 0.04 | 1.52 | 0.74 | 0.70 | 0.66 | 0.63 | 0.59 |
---|---|---|---|---|---|---|---|
Total Cash (%) | |||||||
Account Receivables | - | - | - | - | - | - | - |
Account Receivables (%) | |||||||
Inventories | - | 0.14 | 0.13 | 0.13 | 0.12 | 0.11 | 0.11 |
Inventories (%) | |||||||
Accounts Payable | 0.81 | 0.86 | 0.77 | 0.73 | 0.69 | 0.66 | 0.62 |
Accounts Payable (%) | |||||||
Capital Expenditure | - | -0.58 | -0.55 | -0.52 | -0.49 | -0.46 | -0.44 |
Capital Expenditure (%) |
Weighted Average Cost Of Capital
Share price | $ 1.815 |
---|---|
Beta | 0.000 |
Diluted Shares Outstanding | 9.71 |
Cost of Debt | |
Tax Rate | -0.34 |
After-tax Cost of Debt | 0.41% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 3.532 |
Total Debt | 1.24 |
Total Equity | 17.62 |
Total Capital | 18.86 |
Debt Weighting | 6.59 |
Equity Weighting | 93.41 |
Wacc |
Build Up Free Cash
Year A/P | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 0.39 | 0.37 | 0.35 | 0.33 | 0.31 | 0.29 | 0.28 |
---|---|---|---|---|---|---|---|
EBITDA | 0.27 | -0.48 | -0.11 | -0.10 | -0.10 | -0.09 | -0.09 |
EBIT | 0.20 | -0.56 | -0.18 | -0.17 | -0.16 | -0.15 | -0.14 |
Tax Rate | -0.40% | -0.34% | -0.37% | -0.37% | -0.37% | -0.37% | -0.37% |
EBIAT | 0.21 | -0.57 | -0.18 | -0.17 | -0.16 | -0.15 | -0.14 |
Depreciation | 0.07 | 0.08 | 0.07 | 0.07 | 0.06 | 0.06 | 0.06 |
Accounts Receivable | - | - | - | - | - | - | - |
Inventories | - | - | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
Accounts Payable | - | 0.05 | -0.09 | -0.04 | -0.04 | -0.04 | -0.03 |
Capital Expenditure | - | -0.58 | -0.55 | -0.52 | -0.49 | -0.46 | -0.44 |
UFCF | 0.27 | -1.01 | -0.74 | -0.65 | -0.62 | -0.59 | -0.56 |
WACC | |||||||
PV UFCF | -0.78 | -0.67 | -0.62 | -0.57 | -0.52 | ||
SUM PV UFCF | -2.87 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 3.33 |
Free cash flow (t + 1) | -0.57 |
Terminal Value | -42.57 |
Present Value of Terminal Value | -36.14 |
Intrinsic Value
Enterprise Value | -39.01 |
---|---|
Net Debt | -0.27 |
Equity Value | -38.73 |
Shares Outstanding | 9.71 |
Equity Value Per Share | -3.99 |