Discounted Cash Flow (DCF) Analysis Levered

Guaranty Bancshares, Inc. (GNTY)

$24.51

-0.65 (-2.58%)
All numbers are in Millions, Currency in USD
Stock DCF: 153.42 | 24.51 | undervalue

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 94.48111.07117.69128.60142.65158.24175.53194.71215.99239.59
Revenue (%)
Operating Cash Flow 32.0542.5243.5438.8549.7255.1561.1867.8675.2883.50
Operating Cash Flow (%)
Capital Expenditure -5.09-5.90-2.90-5.68-6.27-6.96-7.72-8.56-9.49-10.53
Capital Expenditure (%)
Free Cash Flow 26.9636.6240.6533.1643.4548.1953.4659.3065.7872.97

Weighted Average Cost Of Capital

Share price $ 24.51
Beta 0.426
Diluted Shares Outstanding 12.09
Cost of Debt
Tax Rate 17.89
After-tax Cost of Debt 4.11%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.664
Total Debt -
Total Equity 296.40
Total Capital 296.40
Debt Weighting 0.00
Equity Weighting 100.00
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 94.48111.07117.69128.60142.65158.24175.53194.71215.99239.59
Operating Cash Flow 32.0542.5243.5438.8549.7255.1561.1867.8675.2883.50
Capital Expenditure -5.09-5.90-2.90-5.68-6.27-6.96-7.72-8.56-9.49-10.53
Free Cash Flow 26.9636.6240.6533.1643.4548.1953.4659.3065.7872.97
WACC
PV LFCF 43.4545.6147.8950.2752.7855.41
SUM PV LFCF 251.96

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.66
Free cash flow (t + 1) 74.43
Terminal Value 2,033.61
Present Value of Terminal Value 1,544.24

Intrinsic Value

Enterprise Value 1,796.20
Net Debt -59.03
Equity Value 1,855.23
Shares Outstanding 12.09
Equity Value Per Share 153.42