Discounted Cash Flow (DCF) Analysis Unlevered

Manitou BF SA (MTU.PA)

22.65 €

-0.10 (-0.44%)
All numbers are in Millions, Currency in USD
Stock DCF: - | 22.65 | 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 2,093.581,585.101,874.582,361.632,8713,169.053,498.043,861.184,262.024,704.48
Revenue (%)
EBITDA 197.29137.81180.10144.842,871848.40936.481,033.701,141.011,259.46
EBITDA (%)
EBIT 151.6884.73126.3189.932,794.05763.46842.72930.211,026.771,133.37
EBIT (%)
Depreciation 45.6053.0853.7954.9176.9584.9493.76103.49114.24126.10
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 23.78122.08195.9960.70156.92173.21191.19211.04232.95257.13
Total Cash (%)
Account Receivables 434.52360.71394.86498.72615.06678.91749.39827.19913.061,007.85
Account Receivables (%)
Inventories 589.75450.87532.29717.98828.35914.351,009.271,114.051,229.701,357.36
Inventories (%)
Accounts Payable 253.45215.89312.59420.34432.08476.94526.45581.10641.43708.02
Accounts Payable (%)
Capital Expenditure -68.34-50.08-51.85-93.53-94.39-104.19-115-126.94-140.12-154.66
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 22.65
Beta 1.373
Diluted Shares Outstanding -
Cost of Debt
Tax Rate 32.06
After-tax Cost of Debt 3.40%
Risk-Free Rate
Market Risk Premium
Cost of Equity 10.640
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 2,093.581,585.101,874.582,361.632,8713,169.053,498.043,861.184,262.024,704.48
EBITDA 197.29137.81180.10144.842,871848.40936.481,033.701,141.011,259.46
EBIT 151.6884.73126.3189.932,794.05763.46842.72930.211,026.771,133.37
Tax Rate 32.05%39.24%25.33%31.60%32.06%32.06%32.06%32.06%32.06%32.06%
EBIAT 103.0651.4894.3261.511,898.38518.73572.58632.02697.63770.05
Depreciation 45.6053.0853.7954.9176.9584.9493.76103.49114.24126.10
Accounts Receivable -73.80-34.15-103.86-116.34-63.85-70.48-77.80-85.87-94.79
Inventories -138.88-81.42-185.69-110.38-85.99-94.92-104.78-115.65-127.66
Accounts Payable --37.5696.70107.7511.7444.8649.5154.6560.3366.59
Capital Expenditure -68.34-50.08-51.85-93.53-94.39-104.19-115-126.94-140.12-154.66
UFCF 80.32229.6077.39-158.901,665.97394.49435.45480.65530.55585.63
WACC
PV UFCF -----
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -
Free cash flow (t + 1) 606.12
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

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