Discounted Cash Flow Model

 
 Year 1 Year 2 Year 3 Year 4
Year 5
 
EBITA
 
 
Add Back Depreciation
 
 
EBITDA
 
 
Less Capex
 
 
Statutory Tax Rate
 
 
Less Notional Tax
(EBITA * tax rate)
 
 
FCF to Enterprise
 
 
 
Continue
 
 
 
Weighted Average Cost of Capital %
 
 
Assumed Perpetual Growth %
 
 
Undiscounted Terminal Value
 
 
 
Continue
 
 
 
NPV of FCF to Enterprise (enterprise value)
 
 
[Net Debt] / Cash
 
 
[Minority Interests]
 
 
[Pensions and other financial liabilities]
 
 
Associate Investments
 
 
Tax Assets
 
 
Equity Value
 
 
Number of Shares Fully Diluted
 
 
 
Target Value Per Share: