Discounted Cash Flow (DCF) Analysis Unlevered

Selectirente (SELER.PA)

99.5 €

+1.50 (+1.53%)
All numbers are in Millions, Currency in USD
Stock DCF: -1,492.46 | 99.5 | 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 15.4415.0916.5918.8124.1627.1430.5034.2738.5143.28
Revenue (%)
EBITDA 13.7012.3915.7522.4929.3127.5130.9134.7339.0343.86
EBITDA (%)
EBIT 8.706.6911.0713.4423.8218.3220.5923.142629.22
EBIT (%)
Depreciation 55.704.689.045.499.1810.3211.6013.0314.64
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 6.625.56198.1499.3123.36103.08115.83130.16146.26164.35
Total Cash (%)
Account Receivables ----------
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 0.470.340.820.790.220.830.931.051.181.33
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 $ 99.5
Beta 0.105
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 4.095
Total Debt 160.16
Total Equity 414.73
Total Capital 574.89
Debt Weighting 27.86
Equity Weighting 72.14
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 15.4415.0916.5918.8124.1627.1430.5034.2738.5143.28
EBITDA 13.7012.3915.7522.4929.3127.5130.9134.7339.0343.86
EBIT 8.706.6911.0713.4423.8218.3220.5923.142629.22
Tax Rate 0.83%0.27%0.48%0.42%1.40%0.68%0.68%0.68%0.68%0.68%
EBIAT 8.636.6711.0213.3923.4918.2020.4522.9825.8229.02
Depreciation 55.704.689.045.499.1810.3211.6013.0314.64
Accounts Receivable ----------
Inventories ----------
Accounts Payable --0.130.48-0.03-0.580.620.100.120.130.15
Capital Expenditure -3.87-12.06-76.87-102.69-109.57-85.12-95.65-107.48-120.77-135.71
UFCF 9.760.18-60.69-80.29-81.17-57.12-64.77-72.78-81.79-91.90
WACC
PV UFCF -55.25-60.61-65.88-71.60-77.83
SUM PV UFCF -331.17

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 3.38
Free cash flow (t + 1) -93.74
Terminal Value -6,792.93
Present Value of Terminal Value -5,752.74

Intrinsic Value

Enterprise Value -6,083.91
Net Debt 136.80
Equity Value -6,220.71
Shares Outstanding 4.17
Equity Value Per Share -1,492.46