Discounted Cash Flow (DCF) Analysis Unlevered

Banimmo SA (BANI.BR)

3.16 €

+0.04 (+0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: -1,073,656.55 | 3.16 | overvalue

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 54.554.263.2981.154.8530.96197.691,262.578,063.3851,496.51
Revenue (%)
EBITDA 3.41-1.99-1.2520.782.890.432.7417.50111.74713.63
EBITDA (%)
EBIT 3.25-2.51-1.7520.292.39-1.98-12.65-80.78-515.89-3,294.70
EBIT (%)
Depreciation 0.160.530.500.500.502.4115.3998.27627.634,008.33
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 6.9822.5719.1671.7021.13102.07651.854,163.0526,587.18169,798.24
Total Cash (%)
Account Receivables 8.108.757.875.7510.1441.83267.131,705.9910,895.2769,582.32
Account Receivables (%)
Inventories 50.6057.8656.4028.4929.06235.171,501.889,591.7061,257.14391,216.95
Inventories (%)
Accounts Payable 8.228.759.3811.665.3338.98248.971,590.0710,154.9464,854.26
Accounts Payable (%)
Capital Expenditure -0.12-0.04-0.03-0.01-0.03-0.16-1.01-6.42-41.02-261.94
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 3.16
Beta 0.544
Diluted Shares Outstanding 11.25
Cost of Debt
Tax Rate 32.83
After-tax Cost of Debt 3.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.853
Total Debt 66.64
Total Equity 35.55
Total Capital 102.19
Debt Weighting 65.21
Equity Weighting 34.79
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 54.554.263.2981.154.8530.96197.691,262.578,063.3851,496.51
EBITDA 3.41-1.99-1.2520.782.890.432.7417.50111.74713.63
EBIT 3.25-2.51-1.7520.292.39-1.98-12.65-80.78-515.89-3,294.70
Tax Rate -26.01%-10.88%-13.37%12.14%32.83%-1.06%-1.06%-1.06%-1.06%-1.06%
EBIAT 4.10-2.79-1.9917.821.61-2-12.78-81.63-521.35-3,329.61
Depreciation 0.160.530.500.500.502.4115.3998.27627.634,008.33
Accounts Receivable --0.650.882.13-4.40-31.69-225.30-1,438.87-9,189.28-58,687.05
Inventories --7.271.4727.90-0.57-206.10-1,266.71-8,089.82-51,665.43-329,959.82
Accounts Payable -0.530.622.28-6.3333.65209.991,341.108,564.8754,699.32
Capital Expenditure -0.12-0.04-0.03-0.01-0.03-0.16-1.01-6.42-41.02-261.94
UFCF 4.14-9.681.4650.63-9.22-203.88-1,280.42-8,177.38-52,224.58-333,530.77
WACC
PV UFCF -195.40-1,176.12-7,198.82-44,062.75-269,700.50
SUM PV UFCF -322,333.59

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.34
Free cash flow (t + 1) -340,201.39
Terminal Value -14,538,520.80
Present Value of Terminal Value -11,756,175.48

Intrinsic Value

Enterprise Value -12,078,509.08
Net Debt 45.52
Equity Value -12,078,554.59
Shares Outstanding 11.25
Equity Value Per Share -1,073,656.55