Discounted Cash Flow (DCF) Analysis Levered

Esquire Financial Holdings, Inc. (ESQ)

$38.42

+0.01 (+0.03%)
All numbers are in Millions, Currency in USD
Stock DCF: 149.11 | 38.42 | 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 $ 38.42
Beta 0.902
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 7.147
Total Debt -
Total Equity 286.37
Total Capital 286.37
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 20.9324.7629.2934.6440.98
SUM PV LFCF 150.60

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.15
Free cash flow (t + 1) 59.04
Terminal Value 1,146.42
Present Value of Terminal Value 811.68

Intrinsic Value

Enterprise Value 962.28
Net Debt -149.16
Equity Value 1,111.44
Shares Outstanding 7.45
Equity Value Per Share 149.11