Premier Foods plc

OTCPK:PFODF

영국 / 필수 소비재 / 식품

개요

뉴스

10년 현금흐름할인(DCF) 반영된 자금 회수

주가

2.38 USD

적정가치

2.74 USD

Metrics	Range	Conclusion
Discount Rate	9.5% - 8.5%	9.0%
Perpetuity Growth Rate	2.5% - 3.5%	3.0%
Fair Value	$2.42 - $3.19	$2.74
Upside	1.8% - 34.2%	15.4%

0.9%

Revenue 10y CAGR

17.5%

10y Avg EBITDA Margin

-2.0%

Unlevered FCF 10y CAGR

10-Year DCF Model: Gordon Growth Exit

주가

2.38 USD

적정가치

2.74 USD

상승 여력 있음

15.4%

Revenue and EBITDA

CapEx

Working Capital

D&A

Tax Rate

Discount Rate

Terminal Value


Select Revenue and EBITDA Forecast

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

Revenue	1,138	1,150	1,188	1,230	1,251	1,242	1,242	1,242	1,242	1,242	1,242
% Growth	13.0%	1.1%	3.3%	3.6%	1.7%	-0.7%	0.0%	0.0%	0.0%	0.0%	0.0%

EBITDA	220	210	218	226	215	213	213	213	213	213	213
% of Revenue	19.3%	18.3%	18.3%	18.4%	17.2%	17.2%	17.2%	17.2%	17.2%	17.2%	17.2%

지원하는 계산법

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
(GBP in millions)		Mar-25	Mar-26	Mar-27	Mar-28	Mar-29	Mar-30	Mar-31	Mar-32	Mar-33	Mar-34	Terminal

EBITDA		210	218	226	215	213	213	213	213	213	213	213
Other Income / (Exp)		0	0	0	0	0	0	0	0	0	0	0
D&A		(25)	(26)	(25)	(34)	(34)	(34)	(34)	(34)	(34)	(34)	(40)

EBIT		185	192	201	181	180	180	180	180	180	180	173
Pro forma Taxes		(35)	(37)	(38)	(34)	(34)	(34)	(34)	(34)	(34)	(34)	(33)
NOPAT	147	150	156	163	147	145	145	145	145	145	145	140

Capital Expenditures	(25)	(42)	(41)	(42)	(43)	(43)	(43)	(43)	(43)	(43)	(43)	(43)
NWC Investment	7	1	2	2	1	(0)	0	0	0	0	0	2
(+) D&A	39	25	26	25	34	34	34	34	34	34	34	40

Free Cash Flow	168	134	142	148	139	136	136	136	136	136	136	140
% Growth		-20%	7%	4%	-6%	-2%	1%	0%	0%	0%	0%	2%

로딩 에러

Premier Foods plc

OTCPK:PFODF

영국 / 필수 소비재 / 식품

10년 현금흐름할인(DCF) 반영된 자금 회수