Discounted Cash Flow (DCF) Analysis Levered
Franklin Financial Services Corpora... (FRAF)
$31.19
+0.31 (+1.00%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 52.28 | 56.52 | 55.96 | 60.26 | 56.45 | 57.64 | 58.87 | 60.11 | 61.38 | 62.68 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 9.30 | 18.97 | 6.44 | 26.35 | 25.24 | 17.44 | 17.81 | 18.19 | 18.57 | 18.97 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -1.16 | -1.65 | -0.48 | -8.81 | -12.22 | -4.87 | -4.98 | -5.08 | -5.19 | -5.30 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 8.14 | 17.31 | 5.95 | 17.54 | 13.03 | 12.57 | 12.84 | 13.11 | 13.38 | 13.67 |
Weighted Average Cost Of Capital
Share price | $ 31.19 |
---|---|
Beta | 0.517 |
Diluted Shares Outstanding | 4.36 |
Cost of Debt | |
Tax Rate | 14.62 |
After-tax Cost of Debt | 67.58% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 5.940 |
Total Debt | 6.14 |
Total Equity | 135.89 |
Total Capital | 142.04 |
Debt Weighting | 4.33 |
Equity Weighting | 95.67 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 52.28 | 56.52 | 55.96 | 60.26 | 56.45 | 57.64 | 58.87 | 60.11 | 61.38 | 62.68 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 9.30 | 18.97 | 6.44 | 26.35 | 25.24 | 17.44 | 17.81 | 18.19 | 18.57 | 18.97 |
Capital Expenditure | -1.16 | -1.65 | -0.48 | -8.81 | -12.22 | -4.87 | -4.98 | -5.08 | -5.19 | -5.30 |
Free Cash Flow | 8.14 | 17.31 | 5.95 | 17.54 | 13.03 | 12.57 | 12.84 | 13.11 | 13.38 | 13.67 |
WACC | ||||||||||
PV LFCF | 11.57 | 10.88 | 10.23 | 9.62 | 9.04 | |||||
SUM PV LFCF | 51.35 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 8.61 |
Free cash flow (t + 1) | 13.94 |
Terminal Value | 210.91 |
Present Value of Terminal Value | 139.56 |
Intrinsic Value
Enterprise Value | 190.90 |
---|---|
Net Debt | -11.74 |
Equity Value | 202.64 |
Shares Outstanding | 4.36 |
Equity Value Per Share | 46.51 |