Flsmidth & Co(FLS)之Earnings Power Value

股價

323.80 DKK

公允價值

173.86 DKK

7.8%

Normalized EBIT Margin

0.7%

Normalized CapEx as % of Revenue

33.0%

Normalized Tax Rate

Earnings Power Value

股價

323.80 DKK

公允價值

173.86 DKK

看漲

-46.3%

Adj EBIT Margin

Normalized EBIT Margin

Normalized Tax Rate

CapEx

Adj Earnings

Fair Value


Estimate Adjusted EBIT Margin

	Fiscal Year Ending					LTM
	Dec-20	Dec-21	Dec-22	Dec-23	Dec-24	Dec-24
(DKK in millions)	FY-4	FY-3	FY-2	FY-1	FY	LTM

Revenue	16,441	17,581	21,849	24,106	20,187	20,187

Adjusted EBITDA Build-up
EBT, Incl. Unusual Items	381	587	552	1,054	1,558	1,558
(+) Net Interest Expense	59	60	50	92	118	118
(+) Other Non Operating Exp.	(11)	19	9	51	61	61
(+) D&A	456	431	415	376	360	360
(+) Non-recurring Items	6	50	260	(99)	(27)	(27)
Adjusted EBITDA	891	1,147	1,286	1,474	2,070	2,070

(-) D&A	(456)	(431)	(415)	(376)	(360)	(360)

Adjusted EBIT	435	716	871	1,098	1,710	1,710
% of Revenue	2.6%	4.1%	4.0%	4.6%	8.5%	8.5%


	Low	Median	High

Adjusted EBIT Margin	2.6%	4.1%	8.5%

支援算式

Equity Waterfall


Equity Waterfall

	Model
(DKK in millions)	Low	Mid	High	Market
Enterprise Value	6,330	10,422	21,365	18,944
(+) Cash & Short Term Investments	1,121	1,121	1,121	1,121
(+) Investments & Other	92	92	92	92
(-) Debt	(1,773)	(1,773)	(1,773)	(1,773)
(-) Other Liabilities	20	20	20	20
(-) Preferred Stock	0	0	0	0
(-) Other	0	0	0	0
Value of Common Equity	5,790	9,882	20,825	18,404
(/) Shares Outstanding	56.8	56.8	56.8	56.8
Implied Stock Price (DKK)	101.87	173.86	366.40	323.80
FX Rate: DKK/DKK	1.00	1.00	1.00	1.00
Implied Stock Price (DKK)	101.87	173.86	366.40	323.80

Upside / (Downside)	-68.54%	-46.31%	13.16%


Stock Price	323.80
Stock Price Close	323.80
Restatment Type	Original
Reporting Currency	DKK
Trading Currency	DKK
FX Rate: DKK/DKK	1.00
Market Cap	18,403.8
Shares Outstanding	56.8
Share Exchange Ratio	1.0
Liquid Long-term Investments	0

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