Discounted Cash Flow (DCF) Analysis Levered

Banco Latinoamericano de Comercio E... (BLX)

$27.28

+2.71 (+11.03%)
All numbers are in Millions, Currency in USD
Stock DCF: 137.04 | 27.28 | 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 70.07126.2399.16104.95166.67218.07285.31373.29488.39638.99
Revenue (%)
Operating Cash Flow -173.59-92.431,247.41-871.71-769.65-154.97-202.75-265.28-347.08-454.10
Operating Cash Flow (%)
Capital Expenditure -0.66-1.52-2.31-0.81-2.72-3-3.93-5.14-6.72-8.79
Capital Expenditure (%)
Free Cash Flow -174.25-93.961,245.10-872.52-772.37-157.97-206.68-270.41-353.79-462.89

Weighted Average Cost Of Capital

Share price $ 27.28
Beta 1.157
Diluted Shares Outstanding 36.30
Cost of Debt
Tax Rate 200.58
After-tax Cost of Debt -4.31%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.746
Total Debt 6,628.45
Total Equity 990.37
Total Capital 7,618.82
Debt Weighting 87.00
Equity Weighting 13.00
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 70.07126.2399.16104.95166.67218.07285.31373.29488.39638.99
Operating Cash Flow -173.59-92.431,247.41-871.71-769.65-154.97-202.75-265.28-347.08-454.10
Capital Expenditure -0.66-1.52-2.31-0.81-2.72-3-3.93-5.14-6.72-8.79
Free Cash Flow -174.25-93.961,245.10-872.52-772.37-157.97-206.68-270.41-353.79-462.89
WACC
PV LFCF -161.99-217.33-291.57-391.18-524.82
SUM PV LFCF -1,586.88

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -2.48
Free cash flow (t + 1) -472.15
Terminal Value 10,538.99
Present Value of Terminal Value 11,948.97

Intrinsic Value

Enterprise Value 10,362.09
Net Debt 5,386.86
Equity Value 4,975.23
Shares Outstanding 36.30
Equity Value Per Share 137.04