Discounted Cash Flow (DCF) Analysis Unlevered
Saint Jean Groupe Société anonyme (SABE.PA)
18 €
0.00 (0.00%)
All numbers are in Millions, Currency in USD
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 | 71 | 74.17 | 81.53 | 89.28 | 95.07 | 102.29 | 110.06 | 118.42 | 127.41 | 137.08 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
EBITDA | 10.16 | 7.04 | 11.99 | 8.53 | 9.34 | 11.84 | 12.74 | 13.71 | 14.75 | 15.87 |
EBITDA (%) | ||||||||||
EBIT | 4.67 | 1.12 | 5.39 | 1.80 | 2.56 | 3.97 | 4.27 | 4.60 | 4.95 | 5.32 |
EBIT (%) | ||||||||||
Depreciation | 5.49 | 5.92 | 6.60 | 6.73 | 6.78 | 7.87 | 8.47 | 9.11 | 9.80 | 10.55 |
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 | 44.08 | 40.66 | 47.04 | 45.34 | 44.43 | 55.67 | 59.90 | 64.45 | 69.34 | 74.60 |
---|---|---|---|---|---|---|---|---|---|---|
Total Cash (%) | ||||||||||
Account Receivables | - | - | - | - | - | - | - | - | - | - |
Account Receivables (%) | ||||||||||
Inventories | 4.17 | 5.44 | 5.87 | 7.37 | 7.80 | 7.54 | 8.12 | 8.73 | 9.40 | 10.11 |
Inventories (%) | ||||||||||
Accounts Payable | 8.30 | 8.16 | 8.02 | 10.36 | 10.30 | 11.24 | 12.10 | 13.02 | 14.01 | 15.07 |
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 | $ 18 |
---|---|
Beta | 0.165 |
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 | 4.418 |
Total Debt | 47.67 |
Total Equity | 1,437.61 |
Total Capital | 1,485.28 |
Debt Weighting | 3.21 |
Equity Weighting | 96.79 |
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 | 71 | 74.17 | 81.53 | 89.28 | 95.07 | 102.29 | 110.06 | 118.42 | 127.41 | 137.08 |
---|---|---|---|---|---|---|---|---|---|---|
EBITDA | 10.16 | 7.04 | 11.99 | 8.53 | 9.34 | 11.84 | 12.74 | 13.71 | 14.75 | 15.87 |
EBIT | 4.67 | 1.12 | 5.39 | 1.80 | 2.56 | 3.97 | 4.27 | 4.60 | 4.95 | 5.32 |
Tax Rate | 11.30% | -10.46% | 23.59% | 7.86% | 14.70% | 9.40% | 9.40% | 9.40% | 9.40% | 9.40% |
EBIAT | 4.14 | 1.24 | 4.12 | 1.66 | 2.19 | 3.60 | 3.87 | 4.17 | 4.48 | 4.82 |
Depreciation | 5.49 | 5.92 | 6.60 | 6.73 | 6.78 | 7.87 | 8.47 | 9.11 | 9.80 | 10.55 |
Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
Inventories | - | -1.27 | -0.43 | -1.50 | -0.43 | 0.26 | -0.57 | -0.62 | -0.66 | -0.71 |
Accounts Payable | - | -0.14 | -0.14 | 2.34 | -0.06 | 0.94 | 0.85 | 0.92 | 0.99 | 1.06 |
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 | -3.34 | 4.39 | -1.44 | -14.67 | -1.28 | -2.39 | -2.58 | -2.77 | -2.98 |
WACC | ||||||||||
PV UFCF | -1.23 | -2.20 | -2.27 | -2.34 | -2.42 | |||||
SUM PV UFCF | -10.46 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 4.30 |
Free cash flow (t + 1) | -3.04 |
Terminal Value | -132.28 |
Present Value of Terminal Value | -107.17 |
Intrinsic Value
Enterprise Value | -117.63 |
---|---|
Net Debt | 3.24 |
Equity Value | -120.87 |
Shares Outstanding | 79.87 |
Equity Value Per Share | -1.51 |