Discounted Cash Flow (DCF) Analysis Unlevered
NR21 Société Anonyme (NR21.PA)
107 €
0.00 (0.00%)
All numbers are in Millions, Currency in USD
Operating Data
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 10.38 | 10.75 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| EBITDA | -0.14 | -0.03 | -0.41 | -0.19 | -0.16 | -0.04 | -0.02 | -0.01 | -0.01 | -0 |
| EBITDA (%) | ||||||||||
| EBIT | -0.19 | -0.51 | -0.41 | -0.19 | -0.16 | -0.04 | -0.02 | -0.01 | -0.01 | -0 |
| EBIT (%) | ||||||||||
| Depreciation | 0.05 | 0.48 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 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 | 0.67 | 0.57 | 0.16 | 0.06 | 5.63 | 0.59 | 0.31 | 0.16 | 0.08 | 0.04 |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Cash (%) | ||||||||||
| Account Receivables | - | - | - | - | - | - | - | - | - | - |
| Account Receivables (%) | ||||||||||
| Inventories | 2.04 | 2.17 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventories (%) | ||||||||||
| Accounts Payable | 0.40 | 0.61 | 0.40 | 0.08 | 0.02 | 0.02 | 0.01 | 0 | 0 | 0 |
| Accounts Payable (%) | ||||||||||
| Capital Expenditure | -0.13 | -0.10 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 |
| Capital Expenditure (%) |
Weighted Average Cost Of Capital
| Share price | $ 107 |
|---|---|
| Beta | 0.000 |
| Diluted Shares Outstanding | 107.49 |
| Cost of Debt | |
| Tax Rate | -7.79 |
| After-tax Cost of Debt | 5.00% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 3.367 |
| Total Debt | - |
| Total Equity | 11,501 |
| Total Capital | 11,501 |
| Debt Weighting | 0.00 |
| Equity Weighting | 100.00 |
| Wacc |
Build Up Free Cash
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 10.38 | 10.75 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
|---|---|---|---|---|---|---|---|---|---|---|
| EBITDA | -0.14 | -0.03 | -0.41 | -0.19 | -0.16 | -0.04 | -0.02 | -0.01 | -0.01 | -0 |
| EBIT | -0.19 | -0.51 | -0.41 | -0.19 | -0.16 | -0.04 | -0.02 | -0.01 | -0.01 | -0 |
| Tax Rate | 120.21% | 67.18% | 34.20% | 0.00% | -7.79% | 42.76% | 42.76% | 42.76% | 42.76% | 42.76% |
| EBIAT | 0.04 | -0.17 | -0.27 | -0.19 | -0.17 | -0.02 | -0.01 | -0.01 | -0 | -0 |
| Depreciation | 0.05 | 0.48 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
| Inventories | - | -0.12 | 2.17 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Payable | - | 0.21 | -0.21 | -0.31 | -0.06 | -0 | -0.01 | -0 | -0 | -0 |
| Capital Expenditure | -0.13 | -0.10 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 |
| UFCF | -0.04 | 0.30 | 1.68 | -0.50 | -0.23 | -0.02 | -0.02 | -0.01 | -0.01 | -0 |
| WACC | ||||||||||
| PV UFCF | -0.52 | -0.23 | -0.02 | -0.02 | -0.01 | -0 | -0 | |||
| SUM PV UFCF | -0.06 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 3.37 |
| Free cash flow (t + 1) | -0 |
| Terminal Value | -0.20 |
| Present Value of Terminal Value | -0.17 |
Intrinsic Value
| Enterprise Value | -0.23 |
|---|---|
| Net Debt | -5.63 |
| Equity Value | 5.40 |
| Shares Outstanding | 107.49 |
| Equity Value Per Share | 0.05 |