Discounted Cash Flow (DCF) Analysis Unlevered

Saint Jean Groupe Société anonyme (SABE.PA)

19.5 €

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: -1.55 | 19.5 | overvalue

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 7174.1781.5389.2895.07102.29110.06118.42127.41137.08
Revenue (%)
EBITDA 10.167.0411.998.539.3411.8412.7413.7114.7515.87
EBITDA (%)
EBIT 4.671.125.391.802.563.974.274.604.955.32
EBIT (%)
Depreciation 5.495.926.606.736.787.878.479.119.8010.55
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 44.0840.6647.0445.3444.4355.6759.9064.4569.3474.60
Total Cash (%)
Account Receivables ----------
Account Receivables (%)
Inventories 4.175.445.877.377.807.548.128.739.4010.11
Inventories (%)
Accounts Payable 8.308.168.0210.3610.3011.2412.1013.0214.0115.07
Accounts Payable (%)
Capital Expenditure -8.96-9.09-5.76-10.67-23.14-13.96-15.02-16.16-17.38-18.70
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 19.5
Beta 0.163
Diluted Shares Outstanding 79.87
Cost of Debt
Tax Rate 14.70
After-tax Cost of Debt 0.59%
Risk-Free Rate
Market Risk Premium
Cost of Equity 4.366
Total Debt 47.67
Total Equity 1,557.41
Total Capital 1,605.09
Debt Weighting 2.97
Equity Weighting 97.03
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 7174.1781.5389.2895.07102.29110.06118.42127.41137.08
EBITDA 10.167.0411.998.539.3411.8412.7413.7114.7515.87
EBIT 4.671.125.391.802.563.974.274.604.955.32
Tax Rate 11.30%-10.46%23.59%7.86%14.70%9.40%9.40%9.40%9.40%9.40%
EBIAT 4.141.244.121.662.193.603.874.174.484.82
Depreciation 5.495.926.606.736.787.878.479.119.8010.55
Accounts Receivable ----------
Inventories --1.27-0.43-1.50-0.430.26-0.57-0.62-0.66-0.71
Accounts Payable --0.14-0.142.34-0.060.940.850.920.991.06
Capital Expenditure -8.96-9.09-5.76-10.67-23.14-13.96-15.02-16.16-17.38-18.70
UFCF 0.67-3.344.39-1.44-14.67-1.28-2.39-2.58-2.77-2.98
WACC
PV UFCF -1.23-2.20-2.27-2.35-2.42
SUM PV UFCF -10.48

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.25
Free cash flow (t + 1) -3.04
Terminal Value -135.22
Present Value of Terminal Value -109.81

Intrinsic Value

Enterprise Value -120.29
Net Debt 3.24
Equity Value -123.53
Shares Outstanding 79.87
Equity Value Per Share -1.55