Casino, Guichard-Perrachon S.A.

OTCPK:CGUIF

法國 / 必需消費品 / Consumer Staples Distribution & Retail

綜觀

股息

10 年 DCF 收入退出價

股價

3.25 USD

公允價值

3.35 USD

Metrics	Range	Conclusion
Discount Rate	12.3% - 11.3%	11.8%
Terminal Revenue Multiple	0.4x - 0.4x	0.4x
Fair Value	$2.91 - $3.83	$3.35
Upside	-10.5% - 17.8%	3.2%

0.5%

Revenue 10y CAGR

9.2%

10y Avg EBITDA Margin

7.0%

Unlevered FCF 10y CAGR

10-Year DCF Model: Revenue Exit

股價

3.25 USD

公允價值

3.35 USD

看漲

3.2%

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	8,560	8,447	8,491	8,578	8,870	8,959	8,959	8,959	8,959	8,959	8,959
% Growth	-5.4%	-1.3%	0.5%	1.0%	3.4%	1.0%	0.0%	0.0%	0.0%	0.0%	0.0%

EBITDA	572	629	763	763	840	848	848	848	848	848	848
% of Revenue	6.7%	7.4%	9.0%	8.9%	9.5%	9.5%	9.5%	9.5%	9.5%	9.5%	9.5%

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		629	763	763	840	848	848	848	848	848	848
Other Income / (Exp)		0	0	0	0	0	0	0	0	0	0
D&A		(625)	(625)	(558)	(507)	(512)	(512)	(512)	(512)	(512)	(512)

EBIT		4	138	205	333	336	336	336	336	336	336
Pro forma Taxes		(1)	(28)	(41)	(67)	(67)	(67)	(67)	(67)	(67)	(67)
NOPAT	(42)	3	110	164	266	269	269	269	269	269	269

Capital Expenditures	(300)	(300)	(302)	(301)	(319)	(316)	(312)	(312)	(312)	(312)	(312)
NWC Investment	(44)	(10)	4	8	26	8	0	0	0	0	0
(+) D&A	625	625	625	558	507	512	512	512	512	512	512

Free Cash Flow	239	318	437	429	480	473	469	469	469	469	469
% Growth			38%	-2%	12%	-2%	-1%	0%	0%	0%	0%

載入錯誤

Casino, Guichard-Perrachon S.A.

OTCPK:CGUIF

法國 / 必需消費品 / Consumer Staples Distribution & Retail

10 年 DCF 收入退出價