Discounted Cash Flow (DCF) Analysis Unlevered

Maisons D'aujourd'hui (MLMAI.PA)

1.45 €

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: -3.02 | 1.45 | overvalue

Operating Data

Year
A/P
2013
Actual
2014
Actual
2015
Actual
2016
Actual
2017
Actual
2018
Projected
2019
Projected
2020
Projected
2021
Projected
2022
Projected
Revenue 35.2118.548.417.1853.1621.270.800.51
Revenue (%)
EBITDA -3.56-1.62-1.45-5.420.09-0.69-0.44-0.28-0.18-0.11
EBITDA (%)
EBIT -4.76-1.81-1.64-5.58-0.02-0.76-0.48-0.31-0.19-0.12
EBIT (%)
Depreciation 1.200.190.190.160.110.070.040.030.020.01
Depreciation (%)

Balance Sheet Data

Year
A/P
2013
Actual
2014
Actual
2015
Actual
2016
Actual
2017
Actual
2018
Projected
2019
Projected
2020
Projected
2021
Projected
2022
Projected
Total Cash 1.340.600.300.250.180.110.070.040.030.02
Total Cash (%)
Account Receivables 6.272.792.251.411.250.660.420.260.170.11
Account Receivables (%)
Inventories 1.520.270.240.210.140.090.060.040.020.01
Inventories (%)
Accounts Payable 7.614.073.080.460.770.650.410.260.160.10
Accounts Payable (%)
Capital Expenditure -0.49-0.09-0.08-0.07-0.05-0.03-0.02-0.01-0.01-0
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 1.45
Beta 0.000
Diluted Shares Outstanding 2
Cost of Debt
Tax Rate -183.33
After-tax Cost of Debt 23.08%
Risk-Free Rate
Market Risk Premium
Cost of Equity 3.964
Total Debt 0.13
Total Equity 2.90
Total Capital 3.03
Debt Weighting 4.29
Equity Weighting 95.71
Wacc

Build Up Free Cash

Year
A/P
2013
Actual
2014
Actual
2015
Actual
2016
Actual
2017
Actual
2018
Projected
2019
Projected
2020
Projected
2021
Projected
2022
Projected
Revenue 35.2118.548.417.1853.1621.270.800.51
EBITDA -3.56-1.62-1.45-5.420.09-0.69-0.44-0.28-0.18-0.11
EBIT -4.76-1.81-1.64-5.58-0.02-0.76-0.48-0.31-0.19-0.12
Tax Rate -0.23%1.10%0.66%1.01%-183.33%-36.16%-36.16%-36.16%-36.16%-36.16%
EBIAT -4.77-1.79-1.63-5.52-0.06-1.04-0.66-0.42-0.26-0.17
Depreciation 1.200.190.190.160.110.070.040.030.020.01
Accounts Receivable -3.480.540.840.160.590.240.150.100.06
Inventories -1.250.030.040.060.050.030.020.010.01
Accounts Payable --3.54-0.99-2.620.31-0.12-0.24-0.15-0.09-0.06
Capital Expenditure -0.49-0.09-0.08-0.07-0.05-0.03-0.02-0.01-0.01-0
UFCF -4.06-0.50-1.94-7.180.54-0.48-0.59-0.38-0.24-0.15
WACC
PV UFCF -0.46-0.54-0.33-0.20-0.12
SUM PV UFCF -1.64

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.78
Free cash flow (t + 1) -0.15
Terminal Value -5.52
Present Value of Terminal Value -4.37

Intrinsic Value

Enterprise Value -6.01
Net Debt 0.02
Equity Value -6.03
Shares Outstanding 2
Equity Value Per Share -3.02