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Stroeer SE

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10 年 DCF EBITDA 退出價

股價

50.40 EUR

公允價值

70.79 EUR

Metrics	Range	Conclusion
Discount Rate	10.0% - 9.0%	9.5%
Terminal EBITDA Multiple	7.0x - 9.0x	8.0x
Fair Value	€61.06 - €81.26	€70.79
Upside	21.2% - 61.2%	40.5%

4.7%

Revenue 10y CAGR

29.3%

10y Avg EBITDA Margin

1.0%

Unlevered FCF 10y CAGR

10-Year DCF Model: EBITDA Exit

股價

50.40 EUR

公允價值

70.79 EUR

看漲

40.5%

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	2,047	2,180	2,334	2,473	2,710	2,886	2,987	3,047	3,108	3,170	3,233
% Growth	6.9%	6.5%	7.1%	6.0%	9.6%	6.5%	3.5%	2.0%	2.0%	2.0%	2.0%

EBITDA	567	674	736	796	798	814	843	860	877	894	912
% of Revenue	27.7%	30.9%	31.5%	32.2%	29.4%	28.2%	28.2%	28.2%	28.2%	28.2%	28.2%

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

EBITDA		674	736	796	798	814	843	860	877	894	912
Other Income / (Exp)		0	0	0	0	0	0	0	0	0	0
D&A		(332)	(351)	(337)	(378)	(352)	(365)	(372)	(379)	(387)	(395)

EBIT		342	385	459	420	462	478	488	497	507	518
Pro forma Taxes		(92)	(104)	(124)	(113)	(125)	(129)	(132)	(134)	(137)	(140)
NOPAT	203	250	281	335	307	337	349	356	363	370	378

Capital Expenditures	(96)	(280)	(120)	(130)	(407)	(433)	(323)	(330)	(336)	(330)	(332)
NWC Investment	7	8	9	8	13	10	6	3	3	4	4
(+) D&A	289	332	351	337	378	352	365	372	379	387	395

Free Cash Flow	404	309	521	550	290	266	396	401	409	431	444
% Growth		-23%	68%	6%	-47%	-8%	49%	1%	2%	5%	3%

載入錯誤

Stroeer SE

XTRA:SAX

德國 / 通訊服務 / 媒體

10 年 DCF EBITDA 退出價