Discounted Cash Flow (DCF) Analysis Levered

ConnectOne Bancorp, Inc. (CNOB)

$19.7

-0.20 (-1.00%)
All numbers are in Millions, Currency in USD
Stock DCF: Infinity | 19.7 | undervalue

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 194.35252.39277.89315.36504.07646.83830.021,065.091,366.741,753.82
Revenue (%)
Operating Cash Flow 60.6981.12202.27176.7892.89272.49349.67448.70575.78738.85
Operating Cash Flow (%)
Capital Expenditure -1.53-2.20-2.78-3.30-4.67-5.99-7.69-9.87-12.66-16.25
Capital Expenditure (%)
Free Cash Flow 59.1678.93199.49173.4888.22266.50341.98438.83563.12722.60

Weighted Average Cost Of Capital

Share price $ 19.7
Beta 1.294
Diluted Shares Outstanding -
Cost of Debt
Tax Rate 25.61
After-tax Cost of Debt 3.18%
Risk-Free Rate
Market Risk Premium
Cost of Equity 10.381
Total Debt 1,026.19
Total Equity -
Total Capital 1,026.19
Debt Weighting 100.00
Equity Weighting 0.00
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 194.35252.39277.89315.36504.07646.83830.021,065.091,366.741,753.82
Operating Cash Flow 60.6981.12202.27176.7892.89272.49349.67448.70575.78738.85
Capital Expenditure -1.53-2.20-2.78-3.30-4.67-5.99-7.69-9.87-12.66-16.25
Free Cash Flow 59.1678.93199.49173.4888.22266.50341.98438.83563.12722.60
WACC
PV LFCF 258.29321.22399.50496.84617.90
SUM PV LFCF 2,093.76

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 3.18
Free cash flow (t + 1) 737.05
Terminal Value 62,462.17
Present Value of Terminal Value 53,412.07

Intrinsic Value

Enterprise Value 55,505.83
Net Debt 964.77
Equity Value 54,541.06
Shares Outstanding -
Equity Value Per Share Infinity