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 | 8.8% - 7.8% | 8.3% |
Perpetuity Growth Rate | 2.0% - 3.0% | 2.5% |
Fair Value | €230.71 - €291.40 | €255.88 |
Upside | -22.6% - -2.2% | -14.1% |
Select Revenue and EBITDA Forecast | ||||||||||||
(EUR in millions) | Input Projections | |||||||||||
Fiscal Years Ending | Dec-24 | Dec-25 | Dec-26 | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Dec-32 | Dec-33 | Dec-34 | |
Revenue | 148 | 158 | 162 | 165 | 168 | 171 | 171 | 171 | 171 | 171 | 171 | |
% Growth | -1.3% | 7.0% | 2.5% | 1.9% | 1.8% | 1.8% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
EBITDA | 15 | 16 | 17 | 17 | 17 | 18 | 18 | 18 | 18 | 18 | 18 | |
% of Revenue | 10.2% | 10.3% | 10.3% | 10.3% | 10.3% | 10.3% | 10.3% | 10.3% | 10.3% | 10.3% | 10.3% |
Calculation of Free Cash Flow | ||||||||||||
Projected Unlevered Cash Flow | ||||||||||||
(EUR in millions) | Dec-25 | Dec-26 | Dec-27 | Dec-28 | Dec-29 | Dec-30 | Dec-31 | Dec-32 | Dec-33 | Dec-34 | Terminal | |
EBITDA | 16 | 17 | 17 | 17 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | |
Other Income / (Exp) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
D&A | (2) | (2) | (1) | (1) | (2) | (2) | (2) | (2) | (2) | (2) | (7) | |
EBIT | 14 | 15 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 10 | |
Pro forma Taxes | (4) | (4) | (4) | (4) | (4) | (4) | (4) | (4) | (4) | (4) | (3) | |
NOPAT | 8 | 10 | 11 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 8 |
Capital Expenditures | (3) | (7) | (7) | (7) | (8) | (8) | (8) | (8) | (8) | (8) | (8) | (8) |
NWC Investment | 0 | (3) | (1) | (1) | (1) | (1) | 0 | 0 | 0 | 0 | 0 | (1) |
(+) D&A | 5 | 2 | 2 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 7 |
Free Cash Flow | 10 | 3 | 5 | 5 | 4 | 5 | 6 | 6 | 6 | 6 | 6 | 6 |
% Growth | -70% | 58% | 6% | -14% | 7% | 24% | 0% | 0% | 0% | 0% | 9% |