Discounted Cash Flow (DCF) Analysis Levered
Boston Omaha Corporation (BOC)
$21.84
-0.77 (-3.41%)
All numbers are in Millions, Currency in USD
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 | 9.01 | 20.02 | 41.39 | 45.74 | 56.97 | 94.56 | 156.94 | 260.48 | 432.34 | 717.57 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -3.25 | 0.04 | 9.61 | 5.57 | 7.77 | 2.50 | 4.15 | 6.89 | 11.44 | 18.99 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -2.27 | -3.12 | -2.81 | -8.57 | -21.01 | -19.51 | -32.38 | -53.74 | -89.20 | -148.04 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -5.51 | -3.08 | 6.80 | -3 | -13.24 | -17.01 | -28.23 | -46.85 | -77.76 | -129.06 |
Weighted Average Cost Of Capital
| Share price | $ 21.84 |
|---|---|
| Beta | 0.803 |
| Diluted Shares Outstanding | 29.05 |
| Cost of Debt | |
| Tax Rate | 27.91 |
| After-tax Cost of Debt | 0.76% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 7.288 |
| Total Debt | 90.61 |
| Total Equity | 634.38 |
| Total Capital | 724.99 |
| Debt Weighting | 12.50 |
| Equity Weighting | 87.50 |
| 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 | 9.01 | 20.02 | 41.39 | 45.74 | 56.97 | 94.56 | 156.94 | 260.48 | 432.34 | 717.57 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -3.25 | 0.04 | 9.61 | 5.57 | 7.77 | 2.50 | 4.15 | 6.89 | 11.44 | 18.99 |
| Capital Expenditure | -2.27 | -3.12 | -2.81 | -8.57 | -21.01 | -19.51 | -32.38 | -53.74 | -89.20 | -148.04 |
| Free Cash Flow | -5.51 | -3.08 | 6.80 | -3 | -13.24 | -17.01 | -28.23 | -46.85 | -77.76 | -129.06 |
| WACC | ||||||||||
| PV LFCF | -15.97 | -24.90 | -38.82 | -60.51 | -94.33 | |||||
| SUM PV LFCF | -234.53 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 6.47 |
| Free cash flow (t + 1) | -131.64 |
| Terminal Value | -2,944.92 |
| Present Value of Terminal Value | -2,152.47 |
Intrinsic Value
| Enterprise Value | -2,387 |
|---|---|
| Net Debt | 18.10 |
| Equity Value | -2,405.11 |
| Shares Outstanding | 29.05 |
| Equity Value Per Share | -82.80 |