Discounted Cash Flow (DCF) Analysis Levered
Ameris Bancorp (ABCB)
$50.18
+0.39 (+0.78%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 361.09 | 457.79 | 699.20 | 1,079.15 | 1,017.33 | 1,343.20 | 1,773.45 | 2,341.52 | 3,091.54 | 4,081.81 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | -62.56 | -108.80 | -940.21 | 798.40 | -258.35 | -341.10 | -450.36 | -594.62 | -785.09 | -1,036.57 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -3.76 | -10.01 | -11.58 | -18.12 | -16.69 | -22.04 | -29.10 | -38.42 | -50.72 | -66.97 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | -66.32 | -118.81 | -951.79 | 780.28 | -275.04 | -363.14 | -479.46 | -633.04 | -835.81 | -1,103.54 |
Weighted Average Cost Of Capital
Share price | $ 50.18 |
---|---|
Beta | 1.156 |
Diluted Shares Outstanding | 69.43 |
Cost of Debt | |
Tax Rate | 24.03 |
After-tax Cost of Debt | 4.19% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 8.986 |
Total Debt | 866.21 |
Total Equity | 3,483.81 |
Total Capital | 4,350.01 |
Debt Weighting | 19.91 |
Equity Weighting | 80.09 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 361.09 | 457.79 | 699.20 | 1,079.15 | 1,017.33 | 1,343.20 | 1,773.45 | 2,341.52 | 3,091.54 | 4,081.81 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | -62.56 | -108.80 | -940.21 | 798.40 | -258.35 | -341.10 | -450.36 | -594.62 | -785.09 | -1,036.57 |
Capital Expenditure | -3.76 | -10.01 | -11.58 | -18.12 | -16.69 | -22.04 | -29.10 | -38.42 | -50.72 | -66.97 |
Free Cash Flow | -66.32 | -118.81 | -951.79 | 780.28 | -275.04 | -363.14 | -479.46 | -633.04 | -835.81 | -1,103.54 |
WACC | ||||||||||
PV LFCF | -336.15 | -410.83 | -502.11 | -613.67 | -750.01 | |||||
SUM PV LFCF | -2,612.76 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 8.03 |
Free cash flow (t + 1) | -1,125.61 |
Terminal Value | -18,666.80 |
Present Value of Terminal Value | -12,686.68 |
Intrinsic Value
Enterprise Value | -15,299.44 |
---|---|
Net Debt | 601.40 |
Equity Value | -15,900.84 |
Shares Outstanding | 69.43 |
Equity Value Per Share | -229.03 |