Discounted Cash Flow (DCF) Analysis Unlevered

Marie Brizard Wine & Spirits SA (MBWS.PA)

3 €

+0.03 (+1.01%)
All numbers are in Millions, Currency in USD
Stock DCF: - | 3 | undervalue

Operating Data

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 275.49169.08166.68181.35194.20182.47171.45161.10151.37142.22
Revenue (%)
EBITDA 2.5713.8412.7314.49194.2045.5242.7740.1937.7635.48
EBITDA (%)
EBIT -28.838.6910.807.93184.8736.7634.5432.4530.4928.65
EBIT (%)
Depreciation 31.415.141.936.569.338.778.247.747.276.83
Depreciation (%)

Balance Sheet Data

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Total Cash 26.1942.0754.1747.5045.1942.4639.9037.4935.2233.10
Total Cash (%)
Account Receivables 73.3036.2947.6954.8451.9148.7745.8343.0640.4638.02
Account Receivables (%)
Inventories 53.9937.8135.0951.9344.5041.8139.2836.9134.6832.59
Inventories (%)
Accounts Payable 63.7234.7831.1136.6940.1037.6835.4033.2731.2629.37
Accounts Payable (%)
Capital Expenditure -9.06-5.02-3.28-3.20-4.85-4.56-4.28-4.02-3.78-3.55
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 3
Beta 0.119
Diluted Shares Outstanding -
Cost of Debt
Tax Rate 30.31
After-tax Cost of Debt 3.48%
Risk-Free Rate
Market Risk Premium
Cost of Equity 4.721
Total Debt -
Total Equity -
Total Capital -
Debt Weighting -
Equity Weighting -
Wacc

Build Up Free Cash

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 275.49169.08166.68181.35194.20182.47171.45161.10151.37142.22
EBITDA 2.5713.8412.7314.49194.2045.5242.7740.1937.7635.48
EBIT -28.838.6910.807.93184.8736.7634.5432.4530.4928.65
Tax Rate -0.88%-37.56%4.63%155.06%30.31%30.31%30.31%30.31%30.31%30.31%
EBIAT -29.0911.9610.30-4.37128.8325.6224.0722.6221.2519.97
Depreciation 31.415.141.936.569.338.778.247.747.276.83
Accounts Receivable -37.01-11.40-7.142.933.142.952.772.602.44
Inventories -16.182.72-16.847.442.692.532.372.232.09
Accounts Payable --28.94-3.665.583.41-2.42-2.28-2.14-2.01-1.89
Capital Expenditure -9.06-5.03-3.28-3.20-4.85-4.56-4.28-4.02-3.78-3.55
UFCF -6.7436.32-3.39-19.41147.0833.2331.2229.3327.5625.90
WACC
PV UFCF -----
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -
Free cash flow (t + 1) 26.67
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

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