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 | 0.0% - 0.5% | 0.0% |
Fair Value | €7.64 - €8.89 | €8.08 |
Upside | 57.8% - 83.6% | 66.9% |
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 | 43 | 46 | 49 | 53 | 56 | 59 | 61 | 63 | 70 | 72 | 73 | |
% Growth | 13.4% | 6.3% | 8.1% | 7.5% | 5.3% | 4.6% | 3.9% | 3.4% | 10.9% | 2.6% | 2.0% | |
EBITDA | -7 | 14 | 16 | 17 | 20 | 23 | 24 | 24 | 28 | 29 | 29 | |
% of Revenue | -15.7% | 29.9% | 33.3% | 32.7% | 35.5% | 38.9% | 38.9% | 38.9% | 39.9% | 39.9% | 39.9% |
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 | 14 | 16 | 17 | 20 | 23 | 24 | 24 | 28 | 29 | 29 | 29 | |
Other Income / (Exp) | 0 | 0 | 4 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
D&A | (3) | (2) | (2) | (3) | (6) | (6) | (6) | (7) | (7) | (7) | (1) | |
EBIT | 11 | 15 | 20 | 17 | 17 | 18 | 18 | 21 | 21 | 22 | 28 | |
Pro forma Taxes | (2) | (3) | (3) | (3) | (3) | (3) | (3) | (4) | (4) | (4) | (5) | |
NOPAT | (9) | 9 | 12 | 16 | 14 | 14 | 15 | 15 | 17 | 18 | 18 | 23 |
Capital Expenditures | (6) | (2) | (2) | (2) | (1) | (1) | (1) | (1) | (1) | (1) | (1) | (1) |
NWC Investment | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 1 | 0 | 0 | 0 |
(+) D&A | 4 | 3 | 2 | 2 | 3 | 6 | 6 | 6 | 7 | 7 | 7 | 1 |
Free Cash Flow | (10) | 11 | 13 | 17 | 16 | 19 | 20 | 21 | 24 | 24 | 24 | 23 |
% Growth | NM | 21% | 30% | -6% | 19% | 4% | 3% | 19% | -2% | 2% | -5% |