Discounted Cash Flow (DCF) Analysis Unlevered

Compagnie Lebon (LBON.PA)

84 €

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: -2.00 | 84 | overvalue

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 70.0557.1693.9495.3778.3784.1790.4197.11104.31112.04
Revenue (%)
EBITDA 26.3310.5325.471.8519.3718.4819.8521.3222.9024.60
EBITDA (%)
EBIT 225.2815.44-8.539.0810.0610.8011.6012.4613.38
EBIT (%)
Depreciation 4.335.2410.0310.3810.298.439.059.7210.4411.22
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 68.2014.6446.2143.2769.7051.6055.4259.5363.9468.67
Total Cash (%)
Account Receivables ----------
Account Receivables (%)
Inventories 6.1327.2531.3417.0210.4120.3621.8723.4925.2327.10
Inventories (%)
Accounts Payable 12.4110.7322.4117.3617.0916.8918.1519.4920.9322.49
Accounts Payable (%)
Capital Expenditure -22.87-20.92-10.68-5.54-2.48-15.08-16.20-17.40-18.69-20.07
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 84
Beta 1.008
Diluted Shares Outstanding 107.49
Cost of Debt
Tax Rate 336.40
After-tax Cost of Debt -5.67%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.542
Total Debt 177.47
Total Equity 9,028.82
Total Capital 9,206.30
Debt Weighting 1.93
Equity Weighting 98.07
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 70.0557.1693.9495.3778.3784.1790.4197.11104.31112.04
EBITDA 26.3310.5325.471.8519.3718.4819.8521.3222.9024.60
EBIT 225.2815.44-8.539.0810.0610.8011.6012.4613.38
Tax Rate 10.25%-27.43%50.14%2.76%336.40%74.42%74.42%74.42%74.42%74.42%
EBIAT 19.756.737.70-8.29-21.472.572.762.973.193.42
Depreciation 4.335.2410.0310.3810.298.439.059.7210.4411.22
Accounts Receivable ----------
Inventories --21.13-4.0814.316.61-9.95-1.51-1.62-1.74-1.87
Accounts Payable --1.6811.69-5.05-0.27-0.201.251.341.441.55
Capital Expenditure -22.87-20.92-10.68-5.54-2.48-15.08-16.20-17.40-18.69-20.07
UFCF 1.20-31.7514.665.82-7.31-14.23-4.64-4.99-5.36-5.75
WACC
PV UFCF -13.26-4.03-4.04-4.04-4.05
SUM PV UFCF -29.42

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.29
Free cash flow (t + 1) -5.87
Terminal Value -110.91
Present Value of Terminal Value -78.02

Intrinsic Value

Enterprise Value -107.43
Net Debt 107.78
Equity Value -215.21
Shares Outstanding 107.49
Equity Value Per Share -2.00