Discounted Cash Flow (DCF) Analysis Levered

Federal Agricultural Mortgage Corpo... (AGM-PC)

$27

-0.25 (-0.92%)
All numbers are in Millions, Currency in USD
Stock DCF: -1,531.90 | 27 | overvalue

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 175.16186.18194.08206.89238.84258.30279.33302.08326.69353.30
Revenue (%)
Operating Cash Flow 175.01200.03-19.70-94.55436.41172.66186.72201.93218.38236.16
Operating Cash Flow (%)
Capital Expenditure ----------
Capital Expenditure (%)
Free Cash Flow -----172.66186.72201.93218.38236.16

Weighted Average Cost Of Capital

Share price $ 27
Beta 0.951
Diluted Shares Outstanding 28.02
Cost of Debt
Tax Rate 21.09
After-tax Cost of Debt 0.68%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.185
Total Debt 23,697.53
Total Equity 756.52
Total Capital 24,454.05
Debt Weighting 96.91
Equity Weighting 3.09
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 175.16186.18194.08206.89238.84258.30279.33302.08326.69353.30
Operating Cash Flow 175.01200.03-19.70-94.55436.41172.66186.72201.93218.38236.16
Capital Expenditure ----------
Free Cash Flow -----172.66186.72201.93218.38236.16
WACC
PV LFCF 171.10183.37196.52210.61225.71
SUM PV LFCF 987.30

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 0.91
Free cash flow (t + 1) 240.89
Terminal Value -22,099.74
Present Value of Terminal Value -21,121.08

Intrinsic Value

Enterprise Value -20,133.78
Net Debt 22,788.75
Equity Value -42,922.53
Shares Outstanding 28.02
Equity Value Per Share -1,531.90