Discounted Cash Flow (DCF) Analysis Unlevered

Bleecker Société Anonyme (BLEE.PA)

187 €

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: 3,210.04 | 187 | 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 25.2021.4822.9221.5323.9123.7323.5523.3723.2023.02
Revenue (%)
EBITDA 74.6684.8741.0487.584.7961.5761.1160.6460.1859.73
EBITDA (%)
EBIT -----61.5761.1160.6460.1859.73
EBIT (%)
Depreciation ----------
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 5.981.410.343.140.422.292.272.252.232.22
Total Cash (%)
Account Receivables ----------
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 4.743.977.929.569.987.507.447.387.337.27
Accounts Payable (%)
Capital Expenditure -7.42-43-4.24-20.12-10.48-18.29-18.15-18.02-17.88-17.74
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 187
Beta -0.140
Diluted Shares Outstanding 1.12
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 2.95%
Risk-Free Rate
Market Risk Premium
Cost of Equity 3.013
Total Debt 338
Total Equity 210.29
Total Capital 548.30
Debt Weighting 61.65
Equity Weighting 38.35
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 25.2021.4822.9221.5323.9123.7323.5523.3723.2023.02
EBITDA 74.6684.8741.0487.584.7961.5761.1160.6460.1859.73
EBIT -----61.5761.1160.6460.1859.73
Tax Rate 1.00%1.06%3.32%-0.66%0.00%0.95%0.95%0.95%0.95%0.95%
EBIAT -----60.9960.5360.0759.6159.16
Depreciation ----------
Accounts Receivable ----------
Inventories ----------
Accounts Payable --0.773.951.630.42-2.48-0.06-0.06-0.06-0.06
Capital Expenditure -7.42-43-4.24-20.12-10.48-18.29-18.15-18.02-17.88-17.74
UFCF -----40.2242.324241.6841.36
WACC
PV UFCF 39.0639.9138.4737.0735.73
SUM PV UFCF 190.24

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 2.97
Free cash flow (t + 1) 42.19
Terminal Value 4,349.34
Present Value of Terminal Value 3,757.24

Intrinsic Value

Enterprise Value 3,947.48
Net Debt 337.58
Equity Value 3,609.90
Shares Outstanding 1.12
Equity Value Per Share 3,210.04