Corporacion America Airports SA DRC

BASE:CAAP

卢森堡 / 工业 / 交通基础设施

概况

股息

5年收入现金流贴现退出法

股票价格

98,150.00 ARS

公允价值

119,279.79 ARS

Metrics	Range	Conclusion
Discount Rate	10.3% - 9.3%	9.8%
Terminal Revenue Multiple	2.2x - 2.4x	2.3x
Fair Value	111,094ARS - 127,778ARS	119,280ARS
Upside	13.2% - 30.2%	21.5%

3.8%

Revenue 5y CAGR

35.9%

5y Avg EBITDA Margin

-15.7%

Unlevered FCF 5y CAGR

5-Year DCF Model: Revenue Exit

股票价格

98,150.00 ARS

公允价值

119,279.79 ARS

看涨

21.5%

Revenue and EBITDA

CapEx

Working Capital

D&A

Tax Rate

Discount Rate

Terminal Value


Select Revenue and EBITDA Forecast

(USD in millions)		Input Projections
Fiscal Years Ending	Dec-24	Dec-25	Dec-26	Dec-27	Dec-28	Dec-29

Revenue	1,843	1,841	1,953	2,107	2,181	2,224
% Growth	31.7%	-0.1%	6.1%	7.9%	3.5%	2.0%

EBITDA	650	728	717	724	749	764
% of Revenue	35.3%	39.5%	36.7%	34.4%	34.4%	34.4%

支持的计算方式

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
(USD in millions)		Dec-25	Dec-26	Dec-27	Dec-28	Dec-29

EBITDA		728	717	724	749	764
Other Income / (Exp)		0	0	0	0	0
D&A		(204)	(126)	(230)	(238)	(243)

EBIT		524	591	494	511	522
Pro forma Taxes		(115)	(130)	(109)	(112)	(115)
NOPAT	349	409	461	385	399	407

Capital Expenditures	(12)	(445)	(297)	(491)	(411)	(399)
NWC Investment	64	(0)	16	22	11	6
(+) D&A	203	204	126	230	238	243

Free Cash Flow	603	167	307	146	237	256
% Growth		-72%	83%	-52%	62%	8%

加载出错

Corporacion America Airports SA DRC

BASE:CAAP

卢森堡 / 工业 / 交通基础设施

5年收入现金流贴现退出法