Discounted Cash Flow (DCF) Analysis Levered

Banco BBVA Argentina S.A. (BBAR)

$2.89

+0.08 (+2.85%)
All numbers are in Millions, Currency in USD
Stock DCF: 1,075.02 | 2.89 | undervalue

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 21,528.5142,907.7786,651.2196,810.74165,507282,991.44483,871.70827,345.971,414,633.982,418,805.89
Revenue (%)
Operating Cash Flow -49,105.1238,503.69-10,139.95112,128.45152,923.74261,476447,083.62764,444.031,307,081.37
Operating Cash Flow (%)
Capital Expenditure -775.99-1,901.97-2,998.20-3,147.27-8,042.92-11,097.66-18,975.29-32,444.81-55,475.62-94,854.76
Capital Expenditure (%)
Free Cash Flow -775.9947,203.1535,505.50-13,287.22104,085.53141,826.08242,500.71414,638.81708,968.411,212,226.61

Weighted Average Cost Of Capital

Share price $ 2.89
Beta 2.378
Diluted Shares Outstanding 204.24
Cost of Debt
Tax Rate -0.47
After-tax Cost of Debt 18,103.38%
Risk-Free Rate
Market Risk Premium
Cost of Equity 14.074
Total Debt 503
Total Equity 590.24
Total Capital 1,093.24
Debt Weighting 46.01
Equity Weighting 53.99
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 21,528.5142,907.7786,651.2196,810.74165,507282,991.44483,871.70827,345.971,414,633.982,418,805.89
Operating Cash Flow -49,105.1238,503.69-10,139.95112,128.45152,923.74261,476447,083.62764,444.031,307,081.37
Capital Expenditure -775.99-1,901.97-2,998.20-3,147.27-8,042.92-11,097.66-18,975.29-32,444.81-55,475.62-94,854.76
Free Cash Flow -775.9947,203.1535,505.50-13,287.22104,085.53141,826.08242,500.71414,638.81708,968.411,212,226.61
WACC
PV LFCF 1,681.0134.070.690.010
SUM PV LFCF 1,715.79

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8,336.94
Free cash flow (t + 1) 1,236,471.14
Terminal Value 14,834.79
Present Value of Terminal Value 0

Intrinsic Value

Enterprise Value 1,715.79
Net Debt -217,843
Equity Value 219,558.79
Shares Outstanding 204.24
Equity Value Per Share 1,075.02