Discounted Cash Flow (DCF) Analysis Unlevered

Colabor Group Inc. (GCL.TO)

$0.74

+0.03 (+4.23%)
All numbers are in Millions, Currency in USD
Stock DCF: 1.32 | 0.74 | undervalue

Operating Data

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 1,319.451,202.921,060.07461.32475.76387.68315.90257.41209.75170.92
Revenue (%)
EBITDA -0.6013.6524.8814.2828.069.647.856.405.214.25
EBITDA (%)
EBIT -11.871.2215.08-0.8313.972.622.141.741.421.16
EBIT (%)
Depreciation 11.2712.439.8015.1114.097.025.724.663.803.09
Depreciation (%)

Balance Sheet Data

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Total Cash ---9.192.014.683.813.112.532.06
Total Cash (%)
Account Receivables 94.6590.0473.5534.4245.7529.9824.4319.9116.2213.22
Account Receivables (%)
Inventories 78.6678.2367.7535.2738.6926.8521.8817.8314.5311.84
Inventories (%)
Accounts Payable 78.1772.8463.2926.5031.8823.5719.2015.6512.7510.39
Accounts Payable (%)
Capital Expenditure -2.34-4.11-3.11-2.02-2.24-1.33-1.09-0.89-0.72-0.59
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 0.74
Beta 0.875
Diluted Shares Outstanding 101.64
Cost of Debt
Tax Rate 19.05
After-tax Cost of Debt 4.45%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.935
Total Debt 85.29
Total Equity 75.21
Total Capital 160.50
Debt Weighting 53.14
Equity Weighting 46.86
Wacc

Build Up Free Cash

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 1,319.451,202.921,060.07461.32475.76387.68315.90257.41209.75170.92
EBITDA -0.6013.6524.8814.2828.069.647.856.405.214.25
EBIT -11.871.2215.08-0.8313.972.622.141.741.421.16
Tax Rate 2.89%27.76%-810.13%273.31%19.05%-97.42%-97.42%-97.42%-97.42%-97.42%
EBIAT -11.530.88137.251.4411.315.174.223.442.802.28
Depreciation 11.2712.439.8015.1114.097.025.724.663.803.09
Accounts Receivable -4.6116.4939.14-11.3315.765.554.523.693
Inventories -0.4310.4832.48-3.4311.844.974.053.302.69
Accounts Payable --5.32-9.56-36.785.38-8.31-4.36-3.56-2.90-2.36
Capital Expenditure -2.34-4.11-3.11-2.02-2.24-1.33-1.09-0.89-0.72-0.59
UFCF -2.608.93161.3549.3613.7830.1415.0112.239.968.12
WACC
PV UFCF 28.4113.3410.247.876.04
SUM PV UFCF 65.91

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.08
Free cash flow (t + 1) 8.28
Terminal Value 202.98
Present Value of Terminal Value 151.11

Intrinsic Value

Enterprise Value 217.01
Net Debt 83.28
Equity Value 133.73
Shares Outstanding 101.64
Equity Value Per Share 1.32