DLB Anlageservice AG (STU:DLB) Intrinsic Value: Projected FCF : €12.74 (As of May. 12, 2024)

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What is DLB Anlageservice AG Intrinsic Value: Projected FCF?

Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company. The details of how we calculate the intrinsic value of stocks are described in detail here.

As of today (2024-05-12), DLB Anlageservice AG's Intrinsic Value: Projected FCF is €12.74. The stock price of DLB Anlageservice AG is €14.10. Therefore, DLB Anlageservice AG's Price-to-Intrinsic-Value-Projected-FCF of today is 1.1.

The historical rank and industry rank for DLB Anlageservice AG's Intrinsic Value: Projected FCF or its related term are showing as below:

STU:DLB' s Price-to-Projected-FCF Range Over the Past 10 Years
Min: 1.07 Med: 1.3 Max: 1.52
Current: 1.11

During the past 13 years, the highest Price-to-Intrinsic-Value-Projected-FCF of DLB Anlageservice AG was 1.52. The lowest was 1.07. And the median was 1.30.

STU:DLB's Price-to-Projected-FCF is ranked worse than
59.53% of 934 companies
in the Asset Management industry
Industry Median: 0.93 vs STU:DLB: 1.11

DLB Anlageservice AG Intrinsic Value: Projected FCF Historical Data

The historical data trend for DLB Anlageservice AG's Intrinsic Value: Projected FCF can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

DLB Anlageservice AG Intrinsic Value: Projected FCF Chart

DLB Anlageservice AG Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Intrinsic Value: Projected FCF

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10.26

10.57

10.75

12.16

12.74

DLB Anlageservice AG Semi-Annual Data
	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12	Dec13	Dec14	Dec15	Dec16	Dec17	Dec18	Dec19	Dec20	Dec21	Dec22
Intrinsic Value: Projected FCF	Get a 7-Day Free Trial											10.26	10.57	10.75	12.16	12.74

Competitive Comparison of DLB Anlageservice AG's Intrinsic Value: Projected FCF

For the Asset Management subindustry, DLB Anlageservice AG's Price-to-Projected-FCF, along with its competitors' market caps and Price-to-Projected-FCF data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

DLB Anlageservice AG's Price-to-Projected-FCF Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, DLB Anlageservice AG's Price-to-Projected-FCF distribution charts can be found below:

* The bar in red indicates where DLB Anlageservice AG's Price-to-Projected-FCF falls into.

DLB Anlageservice AG Intrinsic Value: Projected FCF Calculation

Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company.

The details of how we calculate the intrinsic value of stocks are described in detail here.

This method smooths out the free cash flow over the past 6-7 years, multiplies the results by a growth multiple, and adds a portion of Total Stockholders Equity.

Intrinsic Value: Projected FCF = ( Growth Multiple * Free Cash Flow (6 year avg) + 0.8 * Total Stockholders Equity (most recent) ) / Shares Outstanding (Diluted Average)

In the case of negative Total Stockholders Equity, the following formula is used (see Explanation section below for the reason):

Intrinsic Value: Projected FCF = ( Growth Multiple * Free Cash Flow (6 year avg) + Total Stockholders Equity (most recent) / 0.8 ) / Shares Outstanding (Diluted Average)

Add all the Free Cash Flow together and divide 6 will get DLB Anlageservice AG's Free Cash Flow(6 year avg) = €0.00.

DLB Anlageservice AG's Intrinsic Value: Projected FCF for today is calculated as

Intrinsic Value: Projected FCF	=	(Growth Multiple	*	Free Cash Flow (6 year avg)	+	Total Stockholders Equity (Dec22)	*	0.8)	/	Shares Outstanding (Diluted Average)
	=	(9.5203515959648	*	0	+	8.313	*	0.8)	/	0.522
	=	12.74

DLB Anlageservice AG (STU:DLB) Intrinsic Value: Projected FCF Explanation

The growth multiple is capped between 8.35 and 17.74.

Total Stockholders Equity weighting is more art than science and it should always be revisited in more detail when researching a company. Weightings from 0% to 100% to more than 100% are possible. 80% was chosen as a happy median after taking the above ideas into consideration.

DLB Anlageservice AG's Price-to-Intrinsic-Value-Projected-FCF for today is calculated as

Price-to-Intrinsic-Value-Projected-FCF	=	Share Price	/	Intrinsic Value: Projected FCF
	=	14.10	/	12.740229885057
	=	1.11

DLB Anlageservice AG Intrinsic Value: Projected FCF Related Terms

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