Looks like there`s been an error while trying to load this page.
Our team has been notified but please contact us using the email support widget if the problem persists.
| Metrics | Range | Conclusion |
|---|---|---|
| Discount Rate | 11.8% - 10.8% | 11.3% |
| Terminal Revenue Multiple | 0.9x - 1.0x | 0.9x |
| Fair Value | €29.92 - €35 | €32.41 |
| Upside | 29.0% - 50.8% | 39.7% |
| Select Revenue and EBITDA Forecast | ||||||
| (USD in millions) | Input Projections | |||||
| Fiscal Years Ending | Dec-24 | Dec-25 | Dec-26 | Dec-27 | Dec-28 | Dec-29 |
| Revenue | 1,384 | 1,112 | 1,104 | 1,104 | 1,104 | 1,104 |
| % Growth | 21.8% | -19.7% | -0.7% | 0.0% | 0.0% | 0.0% |
| EBITDA | 61 | 125 | 146 | 146 | 146 | 146 |
| % of Revenue | 4.4% | 11.3% | 13.2% | 13.2% | 13.2% | 13.2% |
| Calculation of Free Cash Flow | ||||||
| Projected Unlevered Cash Flow | ||||||
| (USD in millions) | Dec-25 | Dec-26 | Dec-27 | Dec-28 | Dec-29 | |
| EBITDA | 125 | 146 | 146 | 146 | 146 | |
| Other Income / (Exp) | 0 | 0 | 0 | 0 | 0 | |
| D&A | (86) | (86) | (86) | (86) | (86) | |
| EBIT | 39 | 60 | 60 | 60 | 60 | |
| Pro forma Taxes | (10) | (16) | (16) | (16) | (16) | |
| NOPAT | (29) | 29 | 44 | 44 | 44 | 44 |
| Capital Expenditures | (117) | (85) | (80) | (94) | (94) | (94) |
| NWC Investment | (51) | 56 | 2 | 0 | 0 | 0 |
| (+) D&A | 100 | 86 | 86 | 86 | 86 | 86 |
| Free Cash Flow | (97) | 86 | 52 | 37 | 37 | 37 |
| % Growth | NM | -39% | -30% | 0% | 0% | |