Discounted Cash Flow (DCF) Analysis Levered

BankFinancial Corporation (BFIN)

$7.79

+0.24 (+3.18%)
All numbers are in Millions, Currency in USD
Stock DCF: 17.78 | 7.79 | undervalue

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 66.8558.3651.2549.4656.7954.8753.0151.2149.4747.80
Revenue (%)
Operating Cash Flow 20.6821.3713.527.779.2913.8313.3612.9112.4712.04
Operating Cash Flow (%)
Capital Expenditure -1.61-0.80-2.01-2.33-1.94-1.74-1.68-1.62-1.57-1.51
Capital Expenditure (%)
Free Cash Flow 19.0820.5811.515.437.3512.0911.6811.2810.9010.53

Weighted Average Cost Of Capital

Share price $ 7.79
Beta 0.381
Diluted Shares Outstanding 13.07
Cost of Debt
Tax Rate 24.15
After-tax Cost of Debt 17.31%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.491
Total Debt 19.63
Total Equity 101.83
Total Capital 121.46
Debt Weighting 16.16
Equity Weighting 83.84
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 66.8558.3651.2549.4656.7954.8753.0151.2149.4747.80
Operating Cash Flow 20.6821.3713.527.779.2913.8313.3612.9112.4712.04
Capital Expenditure -1.61-0.80-2.01-2.33-1.94-1.74-1.68-1.62-1.57-1.51
Free Cash Flow 19.0820.5811.515.437.3512.0911.6811.2810.9010.53
WACC
PV LFCF 11.2610.139.118.197.37
SUM PV LFCF 46.05

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.40
Free cash flow (t + 1) 10.74
Terminal Value 198.92
Present Value of Terminal Value 139.21

Intrinsic Value

Enterprise Value 185.26
Net Debt -47.14
Equity Value 232.40
Shares Outstanding 13.07
Equity Value Per Share 17.78