Discounted Cash Flow (DCF) Analysis Levered
Central Pacific Financial Corp. (CPF)
$23.79
+0.49 (+2.10%)
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 | 203.60 | 207.56 | 221.77 | 238.47 | 254.11 | 268.64 | 284.01 | 300.25 | 317.43 | 335.59 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 96.78 | 103.49 | 72.19 | 76.79 | 110.49 | 110.48 | 116.80 | 123.48 | 130.55 | 138.01 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -6.53 | -3.22 | -7.20 | -26 | -22.16 | -14.84 | -15.69 | -16.59 | -17.54 | -18.54 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 90.25 | 100.26 | 65 | 50.79 | 88.33 | 95.64 | 101.11 | 106.89 | 113.01 | 119.47 |
Weighted Average Cost Of Capital
Share price | $ 23.79 |
---|---|
Beta | 1.111 |
Diluted Shares Outstanding | 28.05 |
Cost of Debt | |
Tax Rate | 24.38 |
After-tax Cost of Debt | 3.99% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 8.624 |
Total Debt | 146.35 |
Total Equity | 667.21 |
Total Capital | 813.56 |
Debt Weighting | 17.99 |
Equity Weighting | 82.01 |
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 | 203.60 | 207.56 | 221.77 | 238.47 | 254.11 | 268.64 | 284.01 | 300.25 | 317.43 | 335.59 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 96.78 | 103.49 | 72.19 | 76.79 | 110.49 | 110.48 | 116.80 | 123.48 | 130.55 | 138.01 |
Capital Expenditure | -6.53 | -3.22 | -7.20 | -26 | -22.16 | -14.84 | -15.69 | -16.59 | -17.54 | -18.54 |
Free Cash Flow | 90.25 | 100.26 | 65 | 50.79 | 88.33 | 95.64 | 101.11 | 106.89 | 113.01 | 119.47 |
WACC | ||||||||||
PV LFCF | 88.73 | 87.02 | 85.35 | 83.71 | 82.10 | |||||
SUM PV LFCF | 426.91 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 7.79 |
Free cash flow (t + 1) | 121.86 |
Terminal Value | 2,104.65 |
Present Value of Terminal Value | 1,446.40 |
Intrinsic Value
Enterprise Value | 1,873.31 |
---|---|
Net Debt | -182.56 |
Equity Value | 2,055.87 |
Shares Outstanding | 28.05 |
Equity Value Per Share | 73.30 |