Discounted Cash Flow (DCF) Analysis Unlevered
Bleecker Société Anonyme (BLEE.PA)
187 €
0.00 (0.00%)
All numbers are in Millions, Currency in USD
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 | 25.20 | 21.48 | 22.92 | 21.53 | 23.91 | 23.73 | 23.55 | 23.37 | 23.20 | 23.02 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
EBITDA | 74.66 | 84.87 | 41.04 | 87.58 | 4.79 | 61.57 | 61.11 | 60.64 | 60.18 | 59.73 |
EBITDA (%) | ||||||||||
EBIT | - | - | - | - | - | 61.57 | 61.11 | 60.64 | 60.18 | 59.73 |
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 | 5.98 | 1.41 | 0.34 | 3.14 | 0.42 | 2.29 | 2.27 | 2.25 | 2.23 | 2.22 |
---|---|---|---|---|---|---|---|---|---|---|
Total Cash (%) | ||||||||||
Account Receivables | - | - | - | - | - | - | - | - | - | - |
Account Receivables (%) | ||||||||||
Inventories | - | - | - | - | - | - | - | - | - | - |
Inventories (%) | ||||||||||
Accounts Payable | 4.74 | 3.97 | 7.92 | 9.56 | 9.98 | 7.50 | 7.44 | 7.38 | 7.33 | 7.27 |
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 | 25.20 | 21.48 | 22.92 | 21.53 | 23.91 | 23.73 | 23.55 | 23.37 | 23.20 | 23.02 |
---|---|---|---|---|---|---|---|---|---|---|
EBITDA | 74.66 | 84.87 | 41.04 | 87.58 | 4.79 | 61.57 | 61.11 | 60.64 | 60.18 | 59.73 |
EBIT | - | - | - | - | - | 61.57 | 61.11 | 60.64 | 60.18 | 59.73 |
Tax Rate | 1.00% | 1.06% | 3.32% | -0.66% | 0.00% | 0.95% | 0.95% | 0.95% | 0.95% | 0.95% |
EBIAT | - | - | - | - | - | 60.99 | 60.53 | 60.07 | 59.61 | 59.16 |
Depreciation | - | - | - | - | - | - | - | - | - | - |
Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
Inventories | - | - | - | - | - | - | - | - | - | - |
Accounts Payable | - | -0.77 | 3.95 | 1.63 | 0.42 | -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 | - | - | - | - | - | 40.22 | 42.32 | 42 | 41.68 | 41.36 |
WACC | ||||||||||
PV UFCF | 39.06 | 39.91 | 38.47 | 37.07 | 35.73 | |||||
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 |