Discounted Cash Flow (DCF) Analysis Unlevered
Selectirente (SELER.PA)
100 €
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 | 15.44 | 15.09 | 16.59 | 18.81 | 24.16 | 27.14 | 30.50 | 34.27 | 38.51 | 43.28 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
EBITDA | 13.70 | 12.39 | 15.75 | 22.49 | 29.31 | 27.51 | 30.91 | 34.73 | 39.03 | 43.86 |
EBITDA (%) | ||||||||||
EBIT | 8.70 | 6.69 | 11.07 | 13.44 | 23.82 | 18.32 | 20.59 | 23.14 | 26 | 29.22 |
EBIT (%) | ||||||||||
Depreciation | 5 | 5.70 | 4.68 | 9.04 | 5.49 | 9.18 | 10.32 | 11.60 | 13.03 | 14.64 |
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 | 6.62 | 5.56 | 198.14 | 99.31 | 23.36 | 103.08 | 115.83 | 130.16 | 146.26 | 164.35 |
---|---|---|---|---|---|---|---|---|---|---|
Total Cash (%) | ||||||||||
Account Receivables | - | - | - | - | - | - | - | - | - | - |
Account Receivables (%) | ||||||||||
Inventories | - | - | - | - | - | - | - | - | - | - |
Inventories (%) | ||||||||||
Accounts Payable | 0.47 | 0.34 | 0.82 | 0.79 | 0.22 | 0.83 | 0.93 | 1.05 | 1.18 | 1.33 |
Accounts Payable (%) | ||||||||||
Capital Expenditure | -3.87 | -12.06 | -76.87 | -102.69 | -109.57 | -85.12 | -95.65 | -107.48 | -120.77 | -135.71 |
Capital Expenditure (%) |
Weighted Average Cost Of Capital
Share price | $ 100 |
---|---|
Beta | 0.102 |
Diluted Shares Outstanding | 4.17 |
Cost of Debt | |
Tax Rate | 1.40 |
After-tax Cost of Debt | 1.52% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 4.015 |
Total Debt | 160.16 |
Total Equity | 416.81 |
Total Capital | 576.97 |
Debt Weighting | 27.76 |
Equity Weighting | 72.24 |
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 | 15.44 | 15.09 | 16.59 | 18.81 | 24.16 | 27.14 | 30.50 | 34.27 | 38.51 | 43.28 |
---|---|---|---|---|---|---|---|---|---|---|
EBITDA | 13.70 | 12.39 | 15.75 | 22.49 | 29.31 | 27.51 | 30.91 | 34.73 | 39.03 | 43.86 |
EBIT | 8.70 | 6.69 | 11.07 | 13.44 | 23.82 | 18.32 | 20.59 | 23.14 | 26 | 29.22 |
Tax Rate | 0.83% | 0.27% | 0.48% | 0.42% | 1.40% | 0.68% | 0.68% | 0.68% | 0.68% | 0.68% |
EBIAT | 8.63 | 6.67 | 11.02 | 13.39 | 23.49 | 18.20 | 20.45 | 22.98 | 25.82 | 29.02 |
Depreciation | 5 | 5.70 | 4.68 | 9.04 | 5.49 | 9.18 | 10.32 | 11.60 | 13.03 | 14.64 |
Accounts Receivable | - | - | - | - | - | - | - | - | - | - |
Inventories | - | - | - | - | - | - | - | - | - | - |
Accounts Payable | - | -0.13 | 0.48 | -0.03 | -0.58 | 0.62 | 0.10 | 0.12 | 0.13 | 0.15 |
Capital Expenditure | -3.87 | -12.06 | -76.87 | -102.69 | -109.57 | -85.12 | -95.65 | -107.48 | -120.77 | -135.71 |
UFCF | 9.76 | 0.18 | -60.69 | -80.29 | -81.17 | -57.12 | -64.77 | -72.78 | -81.79 | -91.90 |
WACC | ||||||||||
PV UFCF | -55.28 | -60.68 | -65.99 | -71.77 | -78.06 | |||||
SUM PV UFCF | -331.78 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 3.32 |
Free cash flow (t + 1) | -93.74 |
Terminal Value | -7,101.70 |
Present Value of Terminal Value | -6,031.71 |
Intrinsic Value
Enterprise Value | -6,363.49 |
---|---|
Net Debt | 136.80 |
Equity Value | -6,500.29 |
Shares Outstanding | 4.17 |
Equity Value Per Share | -1,559.54 |