Discounted Cash Flow (DCF) Analysis Unlevered

Safe Orthopaedics SA (ALSAF.PA)

0.0078 €

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: -62.41 | 0.0078 | 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 3.113.474.793.684.565.145.786.517.338.25
Revenue (%)
EBITDA -6.21-5.40-6.36-6.88-5.20-8.10-9.12-10.26-11.56-13.01
EBITDA (%)
EBIT -6.55-5.70-6.79-7.45-6.07-8.75-9.85-11.09-12.49-14.06
EBIT (%)
Depreciation 0.350.310.430.570.870.650.730.830.931.05
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 3.743.160.122.440.913.083.473.914.404.95
Total Cash (%)
Account Receivables ----------
Account Receivables (%)
Inventories 1.962.442.152.923.643.463.904.394.945.56
Inventories (%)
Accounts Payable 0.941.452.151.811.892.132.402.703.043.42
Accounts Payable (%)
Capital Expenditure -0.09-0.12-0.45-0.55-1.96-0.76-0.85-0.96-1.08-1.21
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 0.0,078
Beta 2.309
Diluted Shares Outstanding 4.05
Cost of Debt
Tax Rate -0.01
After-tax Cost of Debt 7.20%
Risk-Free Rate
Market Risk Premium
Cost of Equity 14.597
Total Debt 8.86
Total Equity 0.03
Total Capital 8.89
Debt Weighting 99.64
Equity Weighting 0.36
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 3.113.474.793.684.565.145.786.517.338.25
EBITDA -6.21-5.40-6.36-6.88-5.20-8.10-9.12-10.26-11.56-13.01
EBIT -6.55-5.70-6.79-7.45-6.07-8.75-9.85-11.09-12.49-14.06
Tax Rate 0.00%0.02%0.00%0.02%-0.01%0.01%0.01%0.01%0.01%0.01%
EBIAT -6.55-5.70-6.79-7.44-6.07-8.75-9.85-11.09-12.49-14.06
Depreciation 0.350.310.430.570.870.650.730.830.931.05
Accounts Receivable ----------
Inventories --0.470.29-0.77-0.720.18-0.44-0.49-0.55-0.62
Accounts Payable -0.520.69-0.330.070.240.270.300.340.38
Capital Expenditure -0.09-0.12-0.45-0.55-1.96-0.76-0.85-0.96-1.08-1.21
UFCF -6.29-5.47-5.83-8.52-7.81-8.43-10.14-11.41-12.85-14.46
WACC
PV UFCF -7.87-8.81-9.25-9.72-10.20
SUM PV UFCF -45.86

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.23
Free cash flow (t + 1) -14.75
Terminal Value -282.09
Present Value of Terminal Value -198.98

Intrinsic Value

Enterprise Value -244.84
Net Debt 7.95
Equity Value -252.78
Shares Outstanding 4.05
Equity Value Per Share -62.41