Baudroie Inc(4413)之10Y DCF EBITDA Exit

股價

4,730.00 JPY

公允價值

6,907.41 JPY

14.0%

Revenue 10y CAGR

42.7%

10y Avg EBITDA Margin

25.8%

Unlevered FCF 10y CAGR

10-Year DCF Model: EBITDA Exit

股價

4,730.00 JPY

公允價值

6,907.41 JPY

看漲

47.0%

Revenue and EBITDA

CapEx

Working Capital

D&A

Tax Rate

Discount Rate

Terminal Value


Select Revenue and EBITDA Forecast

(JPY in millions)		Input Projections
Fiscal Years Ending	Feb-24	Feb-25	Feb-26	Feb-27	Feb-28	Feb-29	Feb-30	Feb-31	Feb-32	Feb-33	Feb-34

Revenue	7,330	10,500	13,600	17,100	20,520	23,085	24,816	25,685	26,199	26,723	27,257
% Growth	39.8%	43.2%	29.5%	25.7%	20.0%	12.5%	7.5%	3.5%	2.0%	2.0%	2.0%

EBITDA	1,647	3,039	4,616	6,659	9,017	10,722	11,650	12,058	12,299	12,545	12,796
% of Revenue	22.5%	28.9%	33.9%	38.9%	43.9%	46.4%	46.9%	46.9%	46.9%	46.9%	46.9%

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
(JPY in millions)		Feb-25	Feb-26	Feb-27	Feb-28	Feb-29	Feb-30	Feb-31	Feb-32	Feb-33	Feb-34

EBITDA		3,039	4,616	6,659	9,017	10,722	11,650	12,058	12,299	12,545	12,796
Other Income / (Exp)		0	0	0	0	0	0	0	0	0	0
D&A		(889)	(1,816)	(3,159)	(3,791)	(4,265)	(4,585)	(4,746)	(4,841)	(4,937)	(5,036)

EBIT		2,150	2,800	3,500	5,226	6,456	7,065	7,312	7,458	7,607	7,759
Pro forma Taxes		(581)	(756)	(945)	(1,411)	(1,743)	(1,907)	(1,974)	(2,014)	(2,054)	(2,095)
NOPAT	1,145	1,570	2,044	2,555	3,815	4,713	5,157	5,338	5,444	5,553	5,664

Capital Expenditures	(165)	(20)	(20)	(20)	(20)	(20)	(20)	(20)	(20)	(20)	(20)
NWC Investment	21	32	31	35	34	26	17	9	5	5	5
(+) D&A	79	889	1,816	3,159	3,791	4,265	4,585	4,746	4,841	4,937	5,036

Free Cash Flow	1,080	2,471	3,872	5,730	7,621	8,984	9,740	10,072	10,270	10,476	10,686
% Growth		129%	57%	48%	33%	18%	8%	3%	2%	2%	2%

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