Discounted Cash Flow (DCF) Analysis Unlevered

Thermador Groupe SA (THEP.PA)

80.7 €

-0.30 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: - | 80.7 | undervalue

Operating Data

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 368.84395.50486.50553.86580.95652.08731.92821.53922.121,035.02
Revenue (%)
EBITDA 53.3958.0980.4788.4889.58100.55112.86126.68142.19159.59
EBITDA (%)
EBIT 47.8251.4173.2079.6380.4490.29101.35113.76127.69143.32
EBIT (%)
Depreciation 5.576.687.278.859.1410.2511.5112.9214.5016.28
Depreciation (%)

Balance Sheet Data

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Total Cash 32.4940.3327.3816.0339.9844.8850.3756.5463.4671.23
Total Cash (%)
Account Receivables 76.5083.7294.44114.70119.14133.73150.10168.48189.11212.26
Account Receivables (%)
Inventories 123.05119.54171.22190.36193.38217.06243.64273.47306.95344.53
Inventories (%)
Accounts Payable 52.2552.7674.7871.4681.0190.93102.07114.56128.59144.33
Accounts Payable (%)
Capital Expenditure -8.59-10.61-12.22-11.04-13.82-15.51-17.41-19.54-21.94-24.62
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 80.7
Beta 0.777
Diluted Shares Outstanding -
Cost of Debt
Tax Rate 28.51
After-tax Cost of Debt 3.57%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.952
Total Debt -
Total Equity -
Total Capital -
Debt Weighting -
Equity Weighting -
Wacc

Build Up Free Cash

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 368.84395.50486.50553.86580.95652.08731.92821.53922.121,035.02
EBITDA 53.3958.0980.4788.4889.58100.55112.86126.68142.19159.59
EBIT 47.8251.4173.2079.6380.4490.29101.35113.76127.69143.32
Tax Rate 31.97%29.09%27.52%25.49%28.51%28.51%28.51%28.51%28.51%28.51%
EBIAT 32.5336.4653.0659.3357.5164.5572.4581.3291.28102.45
Depreciation 5.576.687.278.859.1410.2511.5112.9214.5016.28
Accounts Receivable --7.22-10.72-20.25-4.44-14.59-16.37-18.38-20.63-23.15
Inventories -3.50-51.68-19.14-3.02-23.68-26.58-29.83-33.48-37.58
Accounts Payable -0.5122.02-3.339.569.9211.1312.5014.0315.74
Capital Expenditure -8.59-10.61-12.22-11.04-13.82-15.51-17.41-19.54-21.94-24.62
UFCF 29.5129.327.7314.4254.9130.9434.7338.9843.7649.11
WACC
PV UFCF -----
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -
Free cash flow (t + 1) 50.10
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt -
Equity Value -
Shares Outstanding -
Equity Value Per Share -