Discounted Cash Flow (DCF) Analysis Levered

Banco Latinoamericano de Comercio E... (BLX)

$14.16

-0.33 (-2.28%)
All numbers are in Millions, Currency in USD
Stock DCF: 420.43 | 14.16 | 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 138.8070.07126.2399.66104.95108.85112.90117.10121.46125.97
Revenue (%)
Operating Cash Flow 691.09-173.59-92.431,247.41-871.71130.19135.04140.06145.27150.67
Operating Cash Flow (%)
Capital Expenditure -6.02-0.66-1.52-2.31-0.81-2.08-2.16-2.24-2.33-2.41
Capital Expenditure (%)
Free Cash Flow 685.06-174.25-93.961,245.10-872.52128.11132.87137.82142.94148.26

Weighted Average Cost Of Capital

Share price $ 14.16
Beta 1.133
Diluted Shares Outstanding 39.66
Cost of Debt
Tax Rate 0.00
After-tax Cost of Debt 1.63%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.226
Total Debt 3,321.91
Total Equity 561.53
Total Capital 3,883.44
Debt Weighting 85.54
Equity Weighting 14.46
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 138.8070.07126.2399.66104.95108.85112.90117.10121.46125.97
Operating Cash Flow 691.09-173.59-92.431,247.41-871.71130.19135.04140.06145.27150.67
Capital Expenditure -6.02-0.66-1.52-2.31-0.81-2.08-2.16-2.24-2.33-2.41
Free Cash Flow 685.06-174.25-93.961,245.10-872.52128.11132.87137.82142.94148.26
WACC
PV LFCF 124.71125.91127.12128.34129.58
SUM PV LFCF 635.66

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 2.73
Free cash flow (t + 1) 151.23
Terminal Value 20,715.87
Present Value of Terminal Value 18,105.76

Intrinsic Value

Enterprise Value 18,741.41
Net Debt 2,068.86
Equity Value 16,672.55
Shares Outstanding 39.66
Equity Value Per Share 420.43