Discounted Cash Flow (DCF) Analysis Levered
Glacier Bancorp, Inc. (GBCI)
$36.78
+0.79 (+2.20%)
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 | 538.72 | 629.09 | 727.79 | 778.89 | 884.97 | 1,002.46 | 1,135.54 | 1,286.30 | 1,457.07 | 1,650.52 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 280.71 | 226.65 | 189.54 | 572.05 | 470.66 | 482.80 | 546.89 | 619.50 | 701.75 | 794.91 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -18.64 | -16.40 | -11.72 | -9.44 | -23.24 | -23.08 | -26.15 | -29.62 | -33.55 | -38.01 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 262.07 | 210.25 | 177.83 | 562.61 | 447.42 | 459.71 | 520.75 | 589.88 | 668.20 | 756.91 |
Weighted Average Cost Of Capital
Share price | $ 36.78 |
---|---|
Beta | 0.808 |
Diluted Shares Outstanding | 110.83 |
Cost of Debt | |
Tax Rate | 18.12 |
After-tax Cost of Debt | 3.47% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 8.052 |
Total Debt | 2,010.08 |
Total Equity | 4,076.25 |
Total Capital | 6,086.33 |
Debt Weighting | 33.03 |
Equity Weighting | 66.97 |
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 | 538.72 | 629.09 | 727.79 | 778.89 | 884.97 | 1,002.46 | 1,135.54 | 1,286.30 | 1,457.07 | 1,650.52 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 280.71 | 226.65 | 189.54 | 572.05 | 470.66 | 482.80 | 546.89 | 619.50 | 701.75 | 794.91 |
Capital Expenditure | -18.64 | -16.40 | -11.72 | -9.44 | -23.24 | -23.08 | -26.15 | -29.62 | -33.55 | -38.01 |
Free Cash Flow | 262.07 | 210.25 | 177.83 | 562.61 | 447.42 | 459.71 | 520.75 | 589.88 | 668.20 | 756.91 |
WACC | ||||||||||
PV LFCF | 431.49 | 458.78 | 487.78 | 518.62 | 551.42 | |||||
SUM PV LFCF | 2,448.10 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 6.54 |
Free cash flow (t + 1) | 772.05 |
Terminal Value | 17,005.41 |
Present Value of Terminal Value | 12,388.64 |
Intrinsic Value
Enterprise Value | 14,836.74 |
---|---|
Net Debt | 1,608.08 |
Equity Value | 13,228.66 |
Shares Outstanding | 110.83 |
Equity Value Per Share | 119.36 |