Discounted Cash Flow (DCF) Analysis Levered
Banco do Estado do Rio Grande do Su... (BRSR6.SA)
$9.97
-0.10 (-0.99%)
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 | 7,636.27 | 7,976.13 | 8,118.81 | 7,611.42 | 7,204.31 | 7,107.79 | 7,012.57 | 6,918.62 | 6,825.93 | 6,734.48 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 1,424.71 | 1,960.38 | -255.24 | 11,366.22 | 3,664 | 3,415.73 | 3,369.97 | 3,324.82 | 3,280.28 | 3,236.33 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -119.45 | -125.03 | -154.01 | -195.34 | -221.17 | -151.61 | -149.58 | -147.58 | -145.60 | -143.65 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 1,305.27 | 1,835.34 | -409.25 | 11,170.88 | 3,442.82 | 3,264.12 | 3,220.39 | 3,177.25 | 3,134.68 | 3,092.69 |
Weighted Average Cost Of Capital
| Share price | $ 9.97 |
|---|---|
| Beta | 0.775 |
| Diluted Shares Outstanding | 408.97 |
| Cost of Debt | |
| Tax Rate | 30.05 |
| After-tax Cost of Debt | 33.14% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 7.361 |
| Total Debt | 7,105.91 |
| Total Equity | 4,077.48 |
| Total Capital | 11,183.39 |
| Debt Weighting | 63.54 |
| Equity Weighting | 36.46 |
| 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 | 7,636.27 | 7,976.13 | 8,118.81 | 7,611.42 | 7,204.31 | 7,107.79 | 7,012.57 | 6,918.62 | 6,825.93 | 6,734.48 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 1,424.71 | 1,960.38 | -255.24 | 11,366.22 | 3,664 | 3,415.73 | 3,369.97 | 3,324.82 | 3,280.28 | 3,236.33 |
| Capital Expenditure | -119.45 | -125.03 | -154.01 | -195.34 | -221.17 | -151.61 | -149.58 | -147.58 | -145.60 | -143.65 |
| Free Cash Flow | 1,305.27 | 1,835.34 | -409.25 | 11,170.88 | 3,442.82 | 3,264.12 | 3,220.39 | 3,177.25 | 3,134.68 | 3,092.69 |
| WACC | ||||||||||
| PV LFCF | 2,637.89 | 2,103.24 | 1,676.95 | 1,337.07 | 1,066.07 | |||||
| SUM PV LFCF | 8,821.21 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 23.74 |
| Free cash flow (t + 1) | 3,154.54 |
| Terminal Value | 14,510.30 |
| Present Value of Terminal Value | 5,001.80 |
Intrinsic Value
| Enterprise Value | 13,823.01 |
|---|---|
| Net Debt | -10,627.33 |
| Equity Value | 24,450.34 |
| Shares Outstanding | 408.97 |
| Equity Value Per Share | 59.78 |