Discounted Cash Flow (DCF) Analysis Levered
Associated Banc-Corp (ASB)
$20.04
-0.21 (-1.04%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 1,200.56 | 1,120.71 | 1,130.04 | 1,197.10 | 1,097.35 | 1,074.80 | 1,052.72 | 1,031.10 | 1,009.91 | 989.17 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 574.26 | 550.02 | 529.55 | 846.57 | 442.74 | 547.80 | 536.54 | 525.52 | 514.72 | 504.15 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -67.46 | -54.88 | -52.28 | -62.71 | -61.81 | -55.92 | -54.77 | -53.65 | -52.54 | -51.46 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 506.80 | 495.14 | 477.27 | 783.85 | 380.93 | 491.88 | 481.77 | 471.88 | 462.18 | 452.69 |
Weighted Average Cost Of Capital
Share price | $ 20.04 |
---|---|
Beta | 0.991 |
Diluted Shares Outstanding | 150.86 |
Cost of Debt | |
Tax Rate | 11.21 |
After-tax Cost of Debt | 32.86% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 9.034 |
Total Debt | 2,481.46 |
Total Equity | 3,023.23 |
Total Capital | 5,504.70 |
Debt Weighting | 45.08 |
Equity Weighting | 54.92 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 1,200.56 | 1,120.71 | 1,130.04 | 1,197.10 | 1,097.35 | 1,074.80 | 1,052.72 | 1,031.10 | 1,009.91 | 989.17 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 574.26 | 550.02 | 529.55 | 846.57 | 442.74 | 547.80 | 536.54 | 525.52 | 514.72 | 504.15 |
Capital Expenditure | -67.46 | -54.88 | -52.28 | -62.71 | -61.81 | -55.92 | -54.77 | -53.65 | -52.54 | -51.46 |
Free Cash Flow | 506.80 | 495.14 | 477.27 | 783.85 | 380.93 | 491.88 | 481.77 | 471.88 | 462.18 | 452.69 |
WACC | ||||||||||
PV LFCF | 410.69 | 335.85 | 274.65 | 224.61 | 183.68 | |||||
SUM PV LFCF | 1,429.47 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 19.77 |
Free cash flow (t + 1) | 461.74 |
Terminal Value | 2,598.42 |
Present Value of Terminal Value | 1,054.31 |
Intrinsic Value
Enterprise Value | 2,483.78 |
---|---|
Net Debt | 1,571.99 |
Equity Value | 911.79 |
Shares Outstanding | 150.86 |
Equity Value Per Share | 6.04 |