Discounted Cash Flow (DCF) Analysis Levered
Atlanticus Holdings Corporation (ATLC)
$34.81
-0.94 (-2.63%)
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 | 158.91 | 350.13 | 340.27 | 399.80 | 1,046.91 | 1,823.92 | 3,177.61 | 5,535.99 | 9,644.73 | 16,802.93 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 42.86 | 99.96 | 212.73 | 212.37 | 346.13 | 744.96 | 1,297.86 | 2,261.11 | 3,939.27 | 6,862.95 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -1.38 | -0.25 | -0.75 | -7.09 | -7.68 | -13.38 | -23.32 | -40.62 | -70.77 | -123.29 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 41.47 | 99.71 | 211.99 | 205.28 | 338.45 | 731.57 | 1,274.54 | 2,220.49 | 3,868.50 | 6,739.66 |
Weighted Average Cost Of Capital
| Share price | $ 34.81 |
|---|---|
| Beta | 1.689 |
| Diluted Shares Outstanding | 20.90 |
| Cost of Debt | |
| Tax Rate | 25.96 |
| After-tax Cost of Debt | 3.62% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 11.664 |
| Total Debt | 1,673.42 |
| Total Equity | 727.46 |
| Total Capital | 2,400.88 |
| Debt Weighting | 69.70 |
| Equity Weighting | 30.30 |
| 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 | 158.91 | 350.13 | 340.27 | 399.80 | 1,046.91 | 1,823.92 | 3,177.61 | 5,535.99 | 9,644.73 | 16,802.93 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 42.86 | 99.96 | 212.73 | 212.37 | 346.13 | 744.96 | 1,297.86 | 2,261.11 | 3,939.27 | 6,862.95 |
| Capital Expenditure | -1.38 | -0.25 | -0.75 | -7.09 | -7.68 | -13.38 | -23.32 | -40.62 | -70.77 | -123.29 |
| Free Cash Flow | 41.47 | 99.71 | 211.99 | 205.28 | 338.45 | 731.57 | 1,274.54 | 2,220.49 | 3,868.50 | 6,739.66 |
| WACC | ||||||||||
| PV LFCF | 689.77 | 1,133.05 | 1,861.20 | 3,057.29 | 5,022.04 | |||||
| SUM PV LFCF | 11,763.36 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 6.06 |
| Free cash flow (t + 1) | 6,874.45 |
| Terminal Value | 169,321.53 |
| Present Value of Terminal Value | 126,169.41 |
Intrinsic Value
| Enterprise Value | 137,932.76 |
|---|---|
| Net Debt | 1,288.43 |
| Equity Value | 136,644.33 |
| Shares Outstanding | 20.90 |
| Equity Value Per Share | 6,538.63 |