Deutz AG(DEZ)之10Y DCF EBITDA Exit

股價

6.62 EUR

公允價值

11.69 EUR

6.9%

Revenue 10y CAGR

12.5%

10y Avg EBITDA Margin

15.7%

Unlevered FCF 10y CAGR

10-Year DCF Model: EBITDA Exit

股價

6.62 EUR

公允價值

11.69 EUR

看漲

75.2%

Revenue and EBITDA

CapEx

Working Capital

D&A

Tax Rate

Discount Rate

Terminal Value


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	1,814	2,200	2,505	2,839	2,987	3,159	3,270	3,335	3,402	3,470	3,539
% Growth	-12.1%	21.3%	13.9%	13.3%	5.2%	5.8%	3.5%	2.0%	2.0%	2.0%	2.0%

EBITDA	100	196	262	328	375	428	443	452	461	470	480
% of Revenue	5.5%	8.9%	10.5%	11.6%	12.6%	13.6%	13.6%	13.6%	13.6%	13.6%	13.6%

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
(EUR in millions)		Dec-25	Dec-26	Dec-27	Dec-28	Dec-29	Dec-30	Dec-31	Dec-32	Dec-33	Dec-34

EBITDA		196	262	328	375	428	443	452	461	470	480
Other Income / (Exp)		0	0	0	0	0	0	0	0	0	0
D&A		(70)	(94)	(111)	(141)	(182)	(189)	(192)	(196)	(200)	(204)

EBIT		126	168	217	234	246	255	260	265	270	276
Pro forma Taxes		(20)	(27)	(35)	(37)	(39)	(41)	(42)	(42)	(43)	(44)
NOPAT	29	106	141	182	197	207	214	218	223	227	232

Capital Expenditures	(64)	(95)	(100)	(106)	(125)	(130)	(120)	(123)	(124)	(122)	(123)
NWC Investment	40	(62)	(49)	(53)	(24)	(28)	(18)	(10)	(11)	(11)	(11)
(+) D&A	65	70	94	111	141	182	189	192	196	200	204

Free Cash Flow	70	18	86	134	189	231	264	277	284	294	301
% Growth		-74%	367%	56%	41%	23%	14%	5%	2%	4%	3%

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