Discounted Cash Flow (DCF) Analysis Levered

Elevate Credit, Inc. (ELVT)

$1.83

-0.02 (-1.08%)
All numbers are in Millions, Currency in USD
Stock DCF: 51.49 | 1.83 | undervalue

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 673.13786.68746.96465.35416.64378.78344.36313.06284.61258.75
Revenue (%)
Operating Cash Flow 308.69362.28370.34211.35156.16169.99154.54140.50127.73116.12
Operating Cash Flow (%)
Capital Expenditure -16.76-27.49-24.69-16.07-17.28-12.79-11.63-10.58-9.61-8.74
Capital Expenditure (%)
Free Cash Flow 291.93334.79345.65195.28138.88157.19142.91129.92118.11107.38

Weighted Average Cost Of Capital

Share price $ 1.83
Beta 1.899
Diluted Shares Outstanding 34.26
Cost of Debt
Tax Rate 18.81
After-tax Cost of Debt 6.07%
Risk-Free Rate
Market Risk Premium
Cost of Equity 12.647
Total Debt 514.45
Total Equity 62.70
Total Capital 577.15
Debt Weighting 89.14
Equity Weighting 10.86
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 673.13786.68746.96465.35416.64378.78344.36313.06284.61258.75
Operating Cash Flow 308.69362.28370.34211.35156.16169.99154.54140.50127.73116.12
Capital Expenditure -16.76-27.49-24.69-16.07-17.28-12.79-11.63-10.58-9.61-8.74
Free Cash Flow 291.93334.79345.65195.28138.88157.19142.91129.92118.11107.38
WACC
PV LFCF 147.20125.31106.6890.8277.32
SUM PV LFCF 547.32

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.79
Free cash flow (t + 1) 109.53
Terminal Value 2,286.61
Present Value of Terminal Value 1,646.41

Intrinsic Value

Enterprise Value 2,193.74
Net Debt 429.47
Equity Value 1,764.27
Shares Outstanding 34.26
Equity Value Per Share 51.49