Discounted Cash Flow (DCF) Analysis Levered
Bank of Hawaii Corporation (BOH)
$85.07
+0.85 (+1.01%)
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 | 638.60 | 650.03 | 675.33 | 676.47 | 668.64 | 676.49 | 684.43 | 692.46 | 700.58 | 708.80 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 175.15 | 317.92 | 234.24 | 146.42 | 377.15 | 255.81 | 258.81 | 261.84 | 264.92 | 268.03 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -30.47 | -35.30 | -53.90 | -33.29 | -38.62 | -39.07 | -39.53 | -40 | -40.47 | -40.94 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 144.68 | 282.62 | 180.34 | 113.13 | 338.53 | 216.73 | 219.28 | 221.85 | 224.45 | 227.09 |
Weighted Average Cost Of Capital
Share price | $ 85.07 |
---|---|
Beta | 1.114 |
Diluted Shares Outstanding | 39.89 |
Cost of Debt | |
Tax Rate | 22.17 |
After-tax Cost of Debt | 20.16% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 8.083 |
Total Debt | 113.60 |
Total Equity | 3,393.62 |
Total Capital | 3,507.22 |
Debt Weighting | 3.24 |
Equity Weighting | 96.76 |
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 | 638.60 | 650.03 | 675.33 | 676.47 | 668.64 | 676.49 | 684.43 | 692.46 | 700.58 | 708.80 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 175.15 | 317.92 | 234.24 | 146.42 | 377.15 | 255.81 | 258.81 | 261.84 | 264.92 | 268.03 |
Capital Expenditure | -30.47 | -35.30 | -53.90 | -33.29 | -38.62 | -39.07 | -39.53 | -40 | -40.47 | -40.94 |
Free Cash Flow | 144.68 | 282.62 | 180.34 | 113.13 | 338.53 | 216.73 | 219.28 | 221.85 | 224.45 | 227.09 |
WACC | ||||||||||
PV LFCF | 169.82 | 158.40 | 147.74 | 137.81 | 128.54 | |||||
SUM PV LFCF | 873.38 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 8.47 |
Free cash flow (t + 1) | 231.63 |
Terminal Value | 3,580.02 |
Present Value of Terminal Value | 2,384.17 |
Intrinsic Value
Enterprise Value | 3,257.55 |
---|---|
Net Debt | -85.30 |
Equity Value | 3,342.84 |
Shares Outstanding | 39.89 |
Equity Value Per Share | 83.80 |