Discounted Cash Flow (DCF) Analysis Levered

FedNat Holding Company (FNHC)

$0.0002

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: -37.13 | 0.0002 | overvalue

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 391.66396.09414.96432.23245.55225.21206.55189.44173.75159.36
Revenue (%)
Operating Cash Flow 13.1130.2735.32-91.91-191.17-35.86-32.89-30.17-27.67-25.38
Operating Cash Flow (%)
Capital Expenditure -0.98-2.03-2.04-3.36-1.84-1.25-1.15-1.05-0.96-0.88
Capital Expenditure (%)
Free Cash Flow 12.1328.2433.28-95.27-193.01-37.11-34.04-31.22-28.63-26.26

Weighted Average Cost Of Capital

Share price $ 0.0,002
Beta 2.071
Diluted Shares Outstanding 13.85
Cost of Debt
Tax Rate -0.31
After-tax Cost of Debt 7.37%
Risk-Free Rate
Market Risk Premium
Cost of Equity 14.036
Total Debt 118.81
Total Equity 0
Total Capital 118.81
Debt Weighting 100.00
Equity Weighting 0.00
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 391.66396.09414.96432.23245.55225.21206.55189.44173.75159.36
Operating Cash Flow 13.1130.2735.32-91.91-191.17-35.86-32.89-30.17-27.67-25.38
Capital Expenditure -0.98-2.03-2.04-3.36-1.84-1.25-1.15-1.05-0.96-0.88
Free Cash Flow 12.1328.2433.28-95.27-193.01-37.11-34.04-31.22-28.63-26.26
WACC
PV LFCF -34.57-29.53-25.22-21.54-18.40
SUM PV LFCF -129.26

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.37
Free cash flow (t + 1) -26.79
Terminal Value -498.81
Present Value of Terminal Value -349.56

Intrinsic Value

Enterprise Value -478.82
Net Debt 35.28
Equity Value -514.10
Shares Outstanding 13.85
Equity Value Per Share -37.13