Discounted Cash Flow (DCF) Analysis Unlevered

Omer-Decugis & Cie SA (ALODC.PA)

4.84 €

+0.05 (+1.04%)
All numbers are in Millions, Currency in USD
Stock DCF: -53.18 | 4.84 | 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 104.25106.15112.29119.66137.60147.64158.40169.96182.35195.65
Revenue (%)
EBITDA 2.363.041.912.943.543.503.764.034.334.64
EBITDA (%)
EBIT 2.022.401.202.322.822.732.933.143.373.62
EBIT (%)
Depreciation 0.340.640.720.630.720.770.830.890.951.02
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 0.990.130.552.8118.325.095.465.866.286.74
Total Cash (%)
Account Receivables ----------
Account Receivables (%)
Inventories 4.964.694.654.766.506.506.987.488.038.62
Inventories (%)
Accounts Payable 13.5211.4313.2514.9011.8416.7117.9319.2420.6422.14
Accounts Payable (%)
Capital Expenditure -6.91-2.61-1.19-9.55-3.59-6.12-6.57-7.05-7.56-8.12
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 4.84
Beta 0.000
Diluted Shares Outstanding 6
Cost of Debt
Tax Rate 12.71
After-tax Cost of Debt 1.31%
Risk-Free Rate
Market Risk Premium
Cost of Equity 3.518
Total Debt 17.21
Total Equity 29.04
Total Capital 46.25
Debt Weighting 37.21
Equity Weighting 62.79
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 104.25106.15112.29119.66137.60147.64158.40169.96182.35195.65
EBITDA 2.363.041.912.943.543.503.764.034.334.64
EBIT 2.022.401.202.322.822.732.933.143.373.62
Tax Rate 24.43%26.57%28.09%-104.06%12.71%-2.45%-2.45%-2.45%-2.45%-2.45%
EBIAT 1.531.770.864.732.462.8033.223.463.71
Depreciation 0.340.640.720.630.720.770.830.890.951.02
Accounts Receivable ----------
Inventories -0.270.04-0.10-1.74-0.01-0.47-0.51-0.55-0.59
Accounts Payable --2.091.821.65-3.064.871.221.311.401.51
Capital Expenditure -6.91-2.61-1.19-9.55-3.59-6.12-6.57-7.05-7.56-8.12
UFCF -5.04-2.032.24-2.65-5.212.31-2-2.14-2.30-2.46
WACC
PV UFCF 2.25-1.89-1.98-2.06-2.16
SUM PV UFCF -5.84

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 2.70
Free cash flow (t + 1) -2.51
Terminal Value -359.11
Present Value of Terminal Value -314.32

Intrinsic Value

Enterprise Value -320.16
Net Debt -1.11
Equity Value -319.05
Shares Outstanding 6
Equity Value Per Share -53.18