Discounted Cash Flow (DCF) Analysis Unlevered

Inapa - Investimentos, Participaçõe... (INA.LS)

0.042 €

-0.00 (-1.87%)
All numbers are in Millions, Currency in USD
Stock DCF: Infinity | 0.042 | 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 869.231,045.931,030.41980.911,230.391,351.811,485.211,631.781,792.811,969.73
Revenue (%)
EBITDA 12.8225.1514.8028.1671.0537.7441.4745.5650.0655
EBITDA (%)
EBIT 7.0618.227.9821.6662.9028.7931.6334.7538.1841.95
EBIT (%)
Depreciation 5.766.936.836.508.158.959.8410.8111.8813.05
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 17.9437.679.357.9816.5023.6025.9328.4931.3034.39
Total Cash (%)
Account Receivables 155.92183.52160.78131.72198.44218.03239.54263.18289.16317.69
Account Receivables (%)
Inventories 58.7371.1062.2155.0389.9687.9096.58106.11116.58128.08
Inventories (%)
Accounts Payable 79.21119.80104.86109.47103.43136.02149.44164.19180.39198.19
Accounts Payable (%)
Capital Expenditure -3.21-5.89-6.65-3.36-2.57-5.76-6.33-6.95-7.64-8.39
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 0.042
Beta 0.806
Diluted Shares Outstanding -
Cost of Debt
Tax Rate 51.77
After-tax Cost of Debt 2.13%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.348
Total Debt 237.58
Total Equity -
Total Capital 237.58
Debt Weighting 100.00
Equity Weighting 0.00
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 869.231,045.931,030.41980.911,230.391,351.811,485.211,631.781,792.811,969.73
EBITDA 12.8225.1514.8028.1671.0537.7441.4745.5650.0655
EBIT 7.0618.227.9821.6662.9028.7931.6334.7538.1841.95
Tax Rate 3.20%16.17%15.23%-148.80%51.77%-12.49%-12.49%-12.49%-12.49%-12.49%
EBIAT 6.8415.276.7653.9030.3332.3835.5839.0942.9547.19
Depreciation 5.766.936.836.508.158.959.8410.8111.8813.05
Accounts Receivable --27.6022.7429.06-66.73-19.58-21.52-23.64-25.97-28.54
Inventories --12.378.897.18-34.922.05-8.67-9.53-10.47-11.50
Accounts Payable -40.59-14.954.61-6.0432.5913.4214.7516.2017.80
Capital Expenditure -3.21-5.89-6.64-3.36-2.57-5.76-6.33-6.95-7.64-8.39
UFCF 9.3916.9323.6297.88-71.7850.6422.3324.5326.9529.61
WACC
PV UFCF 49.5821.4023.0324.7726.65
SUM PV UFCF 145.43

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 2.13
Free cash flow (t + 1) 30.20
Terminal Value 23,231.61
Present Value of Terminal Value 20,908.01

Intrinsic Value

Enterprise Value 21,053.44
Net Debt 221.07
Equity Value 20,832.37
Shares Outstanding -
Equity Value Per Share Infinity