觀察名單觀點 ProPicks AI 篩選器數據瀏覽圖表已儲存工作 WarrenAI

Manila Water Company Inc

PSE:MWC

菲律賓語 / 公用事業 / 水務公用事業

綜觀

10 年 DCF EBITDA 退出價

股價

33.25 PHP

公允價值

42.28 PHP

Metrics	Range	Conclusion
Discount Rate	10.3% - 9.3%	9.8%
Terminal EBITDA Multiple	6.6x - 8.6x	7.6x
Fair Value	₱35.15 - ₱49.95	₱42.28
Upside	3.5% - 47.1%	24.5%

3.5%

Revenue 10y CAGR

69.3%

10y Avg EBITDA Margin

0.3%

Unlevered FCF 10y CAGR

10-Year DCF Model: EBITDA Exit

股價

33.25 PHP

公允價值

42.28 PHP

看漲

24.5%

Revenue and EBITDA

CapEx

Working Capital

D&A

Tax Rate

Discount Rate

Terminal Value


Select Revenue and EBITDA Forecast

(PHP 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	36,540	40,241	43,493	45,016	45,916	46,834	47,771	48,726	49,701	50,695	51,709
% Growth	19.3%	10.1%	8.1%	3.5%	2.0%	2.0%	2.0%	2.0%	2.0%	2.0%	2.0%

EBITDA	24,534	26,728	28,869	30,294	31,684	33,112	33,774	34,450	35,139	35,841	36,558
% of Revenue	67.1%	66.4%	66.4%	67.3%	69.0%	70.7%	70.7%	70.7%	70.7%	70.7%	70.7%

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

EBITDA		26,728	28,869	30,294	31,684	33,112	33,774	34,450	35,139	35,841	36,558
Other Income / (Exp)		0	0	0	0	0	0	0	0	0	0
D&A		(4,622)	(5,512)	(5,705)	(5,819)	(5,936)	(6,055)	(6,176)	(6,299)	(6,425)	(6,554)

EBIT		22,106	23,357	24,589	25,865	27,176	27,720	28,274	28,840	29,416	30,005
Pro forma Taxes		(6,190)	(6,540)	(6,885)	(7,242)	(7,609)	(7,762)	(7,917)	(8,075)	(8,237)	(8,401)
NOPAT	13,993	15,917	16,817	17,704	18,622	19,567	19,958	20,357	20,764	21,180	21,603

Capital Expenditures	(1,061)	(1,939)	(1,832)	(20,651)	(16,442)	(16,487)	(7,166)	(7,309)	(7,455)	(7,310)	(7,358)
NWC Investment	2,680	1,681	1,477	691	409	417	425	434	443	451	460
(+) D&A	5,099	4,622	5,512	5,705	5,819	5,936	6,055	6,176	6,299	6,425	6,554

Free Cash Flow	20,711	20,280	21,975	3,449	8,409	9,433	19,272	19,658	20,051	20,746	21,259
% Growth		-2%	8%	-84%	144%	12%	104%	2%	2%	3%	2%

載入錯誤

Manila Water Company Inc

PSE:MWC

菲律賓語 / 公用事業 / 水務公用事業

10 年 DCF EBITDA 退出價