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United Internet AG
DB:UTDI
德國 / 通訊服務 / 多元化電訊服務
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貨幣
€
綜觀
股息
財報
模型
財務狀況
比較
穩健度
圖表
10 年 DCF 收入退出價
股價
17.76
EUR
公允價值
35.31
EUR
Metrics
Range
Conclusion
Discount Rate
9.3% - 8.3%
8.8%
Terminal Revenue Multiple
1.2x - 1.4x
1.3x
Fair Value
€31.99 - €38.85
€35.31
Upside
80.1% - 118.7%
98.8%
2.9%
Revenue 10y CAGR
26.9%
10y Avg EBITDA Margin
32.9%
Unlevered FCF 10y CAGR
10-Year DCF Model: Revenue Exit
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儲存
股價
17.76
EUR
公允價值
35.31
EUR
看漲
98.8%
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
6,329
6,527
6,769
6,875
7,364
7,578
7,790
7,946
8,105
8,267
8,432
% Growth
1.9%
3.1%
3.7%
1.6%
7.1%
2.9%
2.8%
2.0%
2.0%
2.0%
2.0%
EBITDA
1,081
1,460
1,582
1,661
1,750
1,829
2,350
2,397
2,445
2,494
2,544
% of Revenue
17.1%
22.4%
23.4%
24.2%
23.8%
24.1%
30.2%
30.2%
30.2%
30.2%
30.2%
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
Dec-25
Dec-26
Dec-27
Dec-28
Dec-29
Dec-30
Dec-31
Dec-32
Dec-33
Dec-34
EBITDA
1,460
1,582
1,661
1,750
1,829
2,350
2,397
2,445
2,494
2,544
Other Income / (Exp)
0
0
0
0
0
0
0
0
0
0
D&A
(618)
(667)
(682)
(649)
(620)
(637)
(650)
(663)
(676)
(689)
EBIT
842
915
979
1,101
1,209
1,713
1,747
1,782
1,818
1,854
Pro forma Taxes
(295)
(320)
(343)
(385)
(423)
(600)
(612)
(624)
(636)
(649)
NOPAT
416
547
595
636
716
786
1,114
1,136
1,159
1,182
1,205
Capital Expenditures
(775)
(853)
(745)
(690)
(610)
(619)
(636)
(622)
(626)
(628)
(625)
NWC Investment
(9)
(16)
(20)
(9)
(40)
(17)
(17)
(13)
(13)
(13)
(13)
(+) D&A
440
618
667
682
649
620
637
650
663
676
689
Free Cash Flow
73
297
498
619
714
769
1,097
1,151
1,182
1,216
1,256
% Growth
68%
24%
15%
8%
43%
5%
3%
3%
3%
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