Discounted Cash Flow (DCF) Analysis Unlevered

Avenir Telecom S.A. (AVT.PA)

0.0099 €

+0.00 (+2.06%)
All numbers are in Millions, Currency in USD
Stock DCF: 1.00 | 0.0099 | undervalue

Operating Data

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 56.2238.9731.6416.1543.8551.8661.3372.5485.79101.46
Revenue (%)
EBITDA 32.23-4.63-3.961.61-0.744.285.065.987.078.36
EBITDA (%)
EBIT 32.14-4.69-4.321.57-0.774.094.845.736.778.01
EBIT (%)
Depreciation 0.090.070.360.040.030.180.210.250.300.36
Depreciation (%)

Balance Sheet Data

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Total Cash 7.033.396.1816.1724.8920.5024.2428.6733.9140.11
Total Cash (%)
Account Receivables ----------
Account Receivables (%)
Inventories 6.708.485.372.224.647.789.2010.8812.8615.21
Inventories (%)
Accounts Payable 5.956.495.283.282.257.198.5110.0611.9014.07
Accounts Payable (%)
Capital Expenditure -0.02-0.18-0-0-0-0.05-0.06-0.07-0.09-0.10
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 0.0,099
Beta 0.758
Diluted Shares Outstanding 363.01
Cost of Debt
Tax Rate 32.06
After-tax Cost of Debt 0.02%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.428
Total Debt 3.39
Total Equity 3.59
Total Capital 6.99
Debt Weighting 48.57
Equity Weighting 51.43
Wacc

Build Up Free Cash

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 56.2238.9731.6416.1543.8551.8661.3372.5485.79101.46
EBITDA 32.23-4.63-3.961.61-0.744.285.065.987.078.36
EBIT 32.14-4.69-4.321.57-0.774.094.845.736.778.01
Tax Rate 4.52%4.00%8.31%148.10%32.06%39.40%39.40%39.40%39.40%39.40%
EBIAT 30.69-4.51-3.96-0.76-0.522.482.933.474.104.85
Depreciation 0.090.070.360.040.030.180.210.250.300.36
Accounts Receivable ----------
Inventories --1.783.113.14-2.42-3.14-1.42-1.68-1.99-2.35
Accounts Payable -0.55-1.22-2-1.034.941.311.551.842.17
Capital Expenditure -0.02-0.18-0-0-0-0.05-0.06-0.07-0.09-0.10
UFCF 30.76-5.85-1.700.43-3.954.422.983.524.174.93
WACC
PV UFCF 4.272.793.193.664.19
SUM PV UFCF 18.10

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 3.32
Free cash flow (t + 1) 5.03
Terminal Value 380.76
Present Value of Terminal Value 323.39

Intrinsic Value

Enterprise Value 341.49
Net Debt -21.49
Equity Value 362.99
Shares Outstanding 363.01
Equity Value Per Share 1.00