Discounted Cash Flow (DCF) Analysis Unlevered

Compagnie Plastic Omnium SE (POM.PA)

15.4 €

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: 26.70 | 15.4 | undervalue

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 6,768.487,244.648,493.557,073.237,233.317,410.807,592.647,778.947,969.828,165.38
Revenue (%)
EBITDA 861.901,076.62920.66534.72699.63825.07845.31866.06887.31909.08
EBITDA (%)
EBIT 565.73710.53422.73-226.18229.17342.58350.99359.60368.42377.46
EBIT (%)
Depreciation 296.17366.09497.93760.91470.47482.49494.33506.46518.89531.62
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 1,021.50980.281,198.08830.29892.68990.211,014.511,039.401,064.901,091.03
Total Cash (%)
Account Receivables ----------
Account Receivables (%)
Inventories 414.01737.11735.85656.81637.68638.17653.83669.87686.31703.15
Inventories (%)
Accounts Payable 1,233.221,614.991,518.201,371.751,264.431,411.921,446.571,482.061,518.431,555.69
Accounts Payable (%)
Capital Expenditure -494.28-642.78-533.49-380.70-307.62-475.65-487.32-499.27-511.53-524.08
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 15.4
Beta 2.087
Diluted Shares Outstanding 145.62
Cost of Debt
Tax Rate 35.47
After-tax Cost of Debt 1.50%
Risk-Free Rate
Market Risk Premium
Cost of Equity 13.816
Total Debt 1,835.38
Total Equity 2,242.50
Total Capital 4,077.87
Debt Weighting 45.01
Equity Weighting 54.99
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 6,768.487,244.648,493.557,073.237,233.317,410.807,592.647,778.947,969.828,165.38
EBITDA 861.901,076.62920.66534.72699.63825.07845.31866.06887.31909.08
EBIT 565.73710.53422.73-226.18229.17342.58350.99359.60368.42377.46
Tax Rate 17.45%18.49%29.42%11.60%35.47%22.49%22.49%22.49%22.49%22.49%
EBIAT 467.03579.15298.36-199.95147.87265.55272.06278.74285.58292.59
Depreciation 296.17366.09497.93760.91470.47482.49494.33506.46518.89531.62
Accounts Receivable ----------
Inventories --323.101.2679.0319.13-0.49-15.66-16.04-16.44-16.84
Accounts Payable -381.77-96.79-146.45-107.32147.5034.6435.5036.3737.26
Capital Expenditure -494.28-642.78-533.50-380.70-307.62-475.65-487.32-499.27-511.53-524.08
UFCF 268.92361.13167.27112.83222.53419.40298.06305.37312.87320.54
WACC
PV UFCF 387.36254.27240.61227.68215.45
SUM PV UFCF 1,325.37

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.27
Free cash flow (t + 1) 326.96
Terminal Value 5,214.61
Present Value of Terminal Value 3,504.94

Intrinsic Value

Enterprise Value 4,830.31
Net Debt 942.74
Equity Value 3,887.57
Shares Outstanding 145.62
Equity Value Per Share 26.70