A precificação da SLC Agrícola, via fluxo de caixa descontado: uma perspectiva analítica

Abstract

The study aims to conduct the valuation, or the financial and economic analysis of the value of SLC Agrícola, a company considered a pioneer in the Brazilian agriculturalsector with publicly traded shares on B3, listed under the code SLCE3. The work starts by analyzing the accounting results, from the Balance Sheet to the Income Statement. Known as Discounted Cash Flow or DCF, the method involves estimating the company's future cash flows through a perpetuity growth rate and discounting them by a cost of capital rate, known as WACC (Weighted Average Cost of Capital), which is estimated through the company's cost of equity and the cost of debt. Once this procedure is done, the goal is to sum the discounted cash flows to find the firm value, which is the company's current value. After this, the company's cash is added, and the net debt is subtracted to find the equity value, meaning its book value. Thus, the equity value is divided by the number of shares the company has traded, arriving at the fair price of the stock. The results obtained during the study estimate a stock value very close to, but below, the market quotation, indicating that the current stock is overvalued.