Discounted Cash Flow (DCF) Analysis Levered

Esquire Financial Holdings, Inc. (ESQ)

$36.39

-0.89 (-2.39%)
All numbers are in Millions, Currency in USD
Stock DCF: 130.94 | 36.39 | 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 25.3735.5945.9252.0964.7382.04103.99131.80167.06211.74
Revenue (%)
Operating Cash Flow 3.989.4314.8915.5930.0824.7831.4139.8150.4563.95
Operating Cash Flow (%)
Capital Expenditure -0.19-0.57-0.65-3.14-2.94-2.35-2.98-3.78-4.79-6.07
Capital Expenditure (%)
Free Cash Flow 3.798.8614.2512.4527.1322.4328.4336.0345.6757.88

Weighted Average Cost Of Capital

Share price $ 36.39
Beta 0.882
Diluted Shares Outstanding 7.45
Cost of Debt
Tax Rate 21.06
After-tax Cost of Debt 3.95%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.930
Total Debt -
Total Equity 271.24
Total Capital 271.24
Debt Weighting 0.00
Equity Weighting 100.00
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 25.3735.5945.9252.0964.7382.04103.99131.80167.06211.74
Operating Cash Flow 3.989.4314.8915.5930.0824.7831.4139.8150.4563.95
Capital Expenditure -0.19-0.57-0.65-3.14-2.94-2.35-2.98-3.78-4.79-6.07
Free Cash Flow 3.798.8614.2512.4527.1322.4328.4336.0345.6757.88
WACC
PV LFCF 20.7824.4028.6633.6539.52
SUM PV LFCF 147.01

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.93
Free cash flow (t + 1) 59.04
Terminal Value 995.63
Present Value of Terminal Value 679.81

Intrinsic Value

Enterprise Value 826.82
Net Debt -149.16
Equity Value 975.98
Shares Outstanding 7.45
Equity Value Per Share 130.94