Discounted Cash Flow (DCF) Analysis Levered

Bank7 Corp. (BSVN)

$25.71

-0.04 (-0.16%)

All numbers are in Millions, Currency in USD

Stock DCF: 17.84 | 25.71 | overvalue

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	39.57	40.96	43.50	48.83	5.68	4.74	3.95	3.30	2.75	2.29
Revenue (%)
Operating Cash Flow	25.88	27	19.18	25.23	29.96	7.15	5.96	4.97	4.15	3.46
Operating Cash Flow (%)
Capital Expenditure	-3.97	-0.38	-3.10	-0.44	-0.27	-0.22	-0.19	-0.16	-0.13	-0.11
Capital Expenditure (%)
Free Cash Flow	21.91	26.62	16.08	24.80	29.69	6.92	5.78	4.82	4.02	3.35

Weighted Average Cost Of Capital

Share price	$ 25.71
Beta	1.734
Diluted Shares Outstanding	9.38
Cost of Debt
Tax Rate	18.52
After-tax Cost of Debt	0.33%
Risk-Free Rate
Market Risk Premium
Cost of Equity	11.062
Total Debt	84.81
Total Equity	241.14
Total Capital	325.95
Debt Weighting	26.02
Equity Weighting	73.98
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	39.57	40.96	43.50	48.83	5.68	4.74	3.95	3.30	2.75	2.29
Operating Cash Flow	25.88	27	19.18	25.23	29.96	7.15	5.96	4.97	4.15	3.46
Capital Expenditure	-3.97	-0.38	-3.10	-0.44	-0.27	-0.22	-0.19	-0.16	-0.13	-0.11
Free Cash Flow	21.91	26.62	16.08	24.80	29.69	6.92	5.78	4.82	4.02	3.35
WACC
PV LFCF						6.40	4.93	3.80	2.92	2.25
SUM PV LFCF										20.29

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%)	8.27
Free cash flow (t + 1)	3.42
Terminal Value	54.51
Present Value of Terminal Value	36.64

Intrinsic Value

Enterprise Value	56.93
Net Debt	-110.55
Equity Value	167.48
Shares Outstanding	9.38
Equity Value Per Share	17.86