Bolsa Mexicana de Valores A

BMV:BOLSAA

墨西哥 / 財務狀況 / 資本市場

綜觀

股息

5 年 DCF 增長退出價

股價

36.22 MXN

公允價值

49.33 MXN

Metrics	Range	Conclusion
Discount Rate	9.5% - 8.5%	9.0%
Perpetuity Growth Rate	0.0% - 1.0%	0.5%
Fair Value	Mex$ 45.42 - Mex$ 54.26	Mex$ 49.33
Upside	20.6% - 44.1%	31.0%

4.7%

Revenue 5y CAGR

57.3%

5y Avg EBITDA Margin

Unlevered FCF 5y CAGR

5-Year DCF Model: Gordon Growth Exit

股價

36.22 MXN

公允價值

49.33 MXN

看漲

31.0%

Revenue and EBITDA

CapEx

Working Capital

D&A

Tax Rate

Discount Rate

Terminal Value


Select Revenue and EBITDA Forecast

(MXN in millions)		Input Projections
Fiscal Years Ending	Dec-24	Dec-25	Dec-26	Dec-27	Dec-28	Dec-29

Revenue	4,165	4,356	4,603	5,028	5,148	5,251
% Growth	13.1%	4.6%	5.7%	9.2%	2.4%	2.0%

EBITDA	2,229	2,410	2,662	2,867	2,991	3,051
% of Revenue	53.5%	55.3%	57.8%	57.0%	58.1%	58.1%

支援算式

Calculation of Free Cash Flow

Discounting Periods

Discounting Factors

Calculation of Enterprise Value

Equity Waterfall

Historical Financials

Current Trading Multiples


Calculation of Free Cash Flow

Projected Unlevered Cash Flow
(MXN in millions)		Dec-25	Dec-26	Dec-27	Dec-28	Dec-29	Terminal

EBITDA		2,410	2,662	2,867	2,991	3,051	3,051
Other Income / (Exp)		0	0	0	0	0	0
D&A		(274)	(303)	(284)	(305)	(311)	(120)

EBIT		2,136	2,359	2,583	2,686	2,740	2,931
Pro forma Taxes		(619)	(684)	(749)	(779)	(795)	(850)
NOPAT	1,535	1,517	1,675	1,834	1,907	1,945	2,081

Capital Expenditures	#NUM!	(100)	(130)	(110)	(124)	(126)	(126)
NWC Investment	49	19	25	43	12	10	3
(+) D&A	67	274	303	284	305	311	120

Free Cash Flow	#NUM!	1,710	1,873	2,051	2,100	2,140	2,077
% Growth		NM	10%	10%	2%	2%	-3%

載入錯誤

Bolsa Mexicana de Valores A

BMV:BOLSAA

墨西哥 / 財務狀況 / 資本市場

5 年 DCF 增長退出價