Discounted Cash Flow (DCF) Analysis Levered

The First of Long Island Corporatio... (FLIC)

$17.53

-0.14 (-0.79%)
All numbers are in Millions, Currency in USD
Stock DCF: 64.10 | 17.53 | 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 103.39104.79110.78116.11119.38123.77128.32133.04137.93143
Revenue (%)
Operating Cash Flow 47.1759.3749.9946.0432.1452.9754.9256.9459.0361.20
Operating Cash Flow (%)
Capital Expenditure -8.89-5.69-2.88-3.01-5.73-5.94-6.16-6.39-6.62-6.87
Capital Expenditure (%)
Free Cash Flow 38.2853.6947.1143.0326.4147.0248.7550.5552.4054.33

Weighted Average Cost Of Capital

Share price $ 17.53
Beta 0.506
Diluted Shares Outstanding 23.60
Cost of Debt
Tax Rate 19.17
After-tax Cost of Debt 4.05%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.360
Total Debt 322.58
Total Equity 413.71
Total Capital 736.29
Debt Weighting 43.81
Equity Weighting 56.19
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 103.39104.79110.78116.11119.38123.77128.32133.04137.93143
Operating Cash Flow 47.1759.3749.9946.0432.1452.9754.9256.9459.0361.20
Capital Expenditure -8.89-5.69-2.88-3.01-5.73-5.94-6.16-6.39-6.62-6.87
Free Cash Flow 38.2853.6947.1143.0326.4147.0248.7550.5552.4054.33
WACC
PV LFCF 40.8740.434039.5839.16
SUM PV LFCF 219.66

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.79
Free cash flow (t + 1) 55.42
Terminal Value 1,986.25
Present Value of Terminal Value 1,571.94

Intrinsic Value

Enterprise Value 1,791.59
Net Debt 278.91
Equity Value 1,512.69
Shares Outstanding 23.60
Equity Value Per Share 64.10