Discounted Cash Flow (DCF) Analysis Levered
Hanmi Financial Corporation (HAFC)
$16.77
-0.30 (-1.76%)
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 | 205.53 | 203.42 | 222.59 | 235.18 | 271.85 | 291.99 | 313.63 | 336.87 | 361.84 | 388.65 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 76.63 | 58.80 | 60.20 | 93.73 | 147.31 | 109.37 | 117.47 | 126.18 | 135.53 | 145.57 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -3.70 | -1.58 | -4.39 | -2.72 | -3.88 | -4.17 | -4.47 | -4.81 | -5.16 | -5.54 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 72.94 | 57.22 | 55.81 | 91.01 | 143.43 | 105.20 | 113 | 121.37 | 130.37 | 140.03 |
Weighted Average Cost Of Capital
Share price | $ 16.77 |
---|---|
Beta | 0.936 |
Diluted Shares Outstanding | 30.39 |
Cost of Debt | |
Tax Rate | 27.95 |
After-tax Cost of Debt | 5.43% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 8.132 |
Total Debt | 479.41 |
Total Equity | 509.67 |
Total Capital | 989.08 |
Debt Weighting | 48.47 |
Equity Weighting | 51.53 |
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 | 205.53 | 203.42 | 222.59 | 235.18 | 271.85 | 291.99 | 313.63 | 336.87 | 361.84 | 388.65 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 76.63 | 58.80 | 60.20 | 93.73 | 147.31 | 109.37 | 117.47 | 126.18 | 135.53 | 145.57 |
Capital Expenditure | -3.70 | -1.58 | -4.39 | -2.72 | -3.88 | -4.17 | -4.47 | -4.81 | -5.16 | -5.54 |
Free Cash Flow | 72.94 | 57.22 | 55.81 | 91.01 | 143.43 | 105.20 | 113 | 121.37 | 130.37 | 140.03 |
WACC | ||||||||||
PV LFCF | 98.49 | 99.03 | 99.58 | 100.13 | 100.68 | |||||
SUM PV LFCF | 497.91 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 6.82 |
Free cash flow (t + 1) | 142.83 |
Terminal Value | 2,963.26 |
Present Value of Terminal Value | 2,130.63 |
Intrinsic Value
Enterprise Value | 2,628.53 |
---|---|
Net Debt | 126.99 |
Equity Value | 2,501.54 |
Shares Outstanding | 30.39 |
Equity Value Per Share | 82.31 |