Discounted Cash Flow (DCF) Analysis Unlevered

Hybrid Software Group PLC (GLOG.BR)

4.9 €

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: 13.93 | 4.9 | undervalue

Operating Data

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 16.0320.5423.9222.5122.4924.6627.0429.6532.5235.65
Revenue (%)
EBITDA 4.303.105.744.389.156.226.827.478.208.99
EBITDA (%)
EBIT 0.13-0.162.870.866.012.102.302.522.773.04
EBIT (%)
Depreciation 4.173.262.873.533.144.124.514.955.435.95
Depreciation (%)

Balance Sheet Data

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Total Cash 4.645.085.6556.856.417.037.718.459.27
Total Cash (%)
Account Receivables ----------
Account Receivables (%)
Inventories 0.440.751.241.241.191.101.211.331.461.60
Inventories (%)
Accounts Payable 0.910.790.290.580.760.830.910.991.091.19
Accounts Payable (%)
Capital Expenditure -1.54-1.63-1.61-1.89-1.70-1.98-2.17-2.38-2.61-2.87
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 4.9
Beta 0.841
Diluted Shares Outstanding 11.72
Cost of Debt
Tax Rate -249.56
After-tax Cost of Debt 8.51%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.532
Total Debt 1.74
Total Equity 57.44
Total Capital 59.18
Debt Weighting 2.94
Equity Weighting 97.06
Wacc

Build Up Free Cash

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
Revenue 16.0320.5423.9222.5122.4924.6627.0429.6532.5235.65
EBITDA 4.303.105.744.389.156.226.827.478.208.99
EBIT 0.13-0.162.870.866.012.102.302.522.773.04
Tax Rate -358.46%-63.19%17.54%37.31%-249.56%-123.27%-123.27%-123.27%-123.27%-123.27%
EBIAT 0.60-0.262.370.54214.695.145.646.186.78
Depreciation 4.173.262.873.533.144.124.514.955.435.95
Accounts Receivable ----------
Inventories --0.31-0.4900.050.09-0.11-0.12-0.13-0.14
Accounts Payable --0.12-0.500.290.180.060.080.090.100.11
Capital Expenditure -1.54-1.63-1.61-1.89-1.70-1.98-2.17-2.38-2.61-2.87
UFCF 3.230.942.632.4722.676.977.458.178.969.83
WACC
PV UFCF 6.486.446.576.696.83
SUM PV UFCF 33.01

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.56
Free cash flow (t + 1) 10.02
Terminal Value 180.25
Present Value of Terminal Value 125.21

Intrinsic Value

Enterprise Value 158.22
Net Debt -5.12
Equity Value 163.33
Shares Outstanding 11.72
Equity Value Per Share 13.93