Discounted Cash Flow (DCF) Analysis Unlevered

Clairvest Group Inc. (CVG.TO)

$71.05

-3.45 (-4.63%)
All numbers are in Millions, Currency in USD
Stock DCF: - | 71.05 | 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 172.44169.93110.84181.24420.35587.67821.591,148.631,605.842,245.04
Revenue (%)
EBITDA 139139.5580.99121.93376.86461.60645.34902.211,261.341,763.41
EBITDA (%)
EBIT 137.59138.6979.77120.72375.72457.65639.82894.491,250.551,748.32
EBIT (%)
Depreciation 1.410.871.221.201.143.955.527.7210.7915.09
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 95.59288.92272.94186.79218.42736.641,029.851,439.782,012.882,814.11
Total Cash (%)
Account Receivables 4229.6053.76126.82104.28217.51304.08425.12594.34830.92
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 3.7110.5911.868.556.8529.8941.7958.4281.68114.19
Accounts Payable (%)
Capital Expenditure ----0.11-0.47-0.51-0.71-1-1.40-1.95
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 71.05
Beta 0.187
Diluted Shares Outstanding 15.06
Cost of Debt
Tax Rate 11.95
After-tax Cost of Debt -%
Risk-Free Rate
Market Risk Premium
Cost of Equity 4.532
Total Debt -
Total Equity 1,070.24
Total Capital -
Debt Weighting -
Equity Weighting -
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 172.44169.93110.84181.24420.35587.67821.591,148.631,605.842,245.04
EBITDA 139139.5580.99121.93376.86461.60645.34902.211,261.341,763.41
EBIT 137.59138.6979.77120.72375.72457.65639.82894.491,250.551,748.32
Tax Rate 9.45%13.52%12.34%10.23%11.95%11.50%11.50%11.50%11.50%11.50%
EBIAT 124.59119.9469.93108.37330.83405.03566.25791.651,106.761,547.31
Depreciation 1.410.871.221.201.143.955.527.7210.7915.09
Accounts Receivable -12.41-24.16-73.0622.53-113.22-86.58-121.04-169.22-236.58
Inventories ----------
Accounts Payable -6.881.28-3.31-1.7023.0411.9016.6323.2532.51
Capital Expenditure ----0.11-0.47-0.51-0.71-1-1.40-1.95
UFCF 126140.0948.2633.10352.34318.28496.38693.96970.201,356.38
WACC
PV UFCF -----
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -
Free cash flow (t + 1) 1,383.51
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt -218.42
Equity Value -
Shares Outstanding 15.06
Equity Value Per Share -