Discounted Cash Flow (DCF) Analysis Levered
Hanmi Financial Corporation (HAFC)
$16.23
+0.05 (+0.31%)
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 | 224 | 235.55 | 271.85 | 292 | 313.65 | 336.90 | 361.88 | 388.71 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 76.63 | 58.80 | 60.20 | 93.73 | 147.31 | 109.23 | 117.33 | 126.03 | 135.38 | 145.41 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -3.70 | -1.58 | -4.39 | -2.72 | -1.93 | -3.74 | -4.01 | -4.31 | -4.63 | -4.98 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 72.94 | 57.22 | 55.81 | 91.01 | 145.38 | 105.50 | 113.32 | 121.72 | 130.74 | 140.44 |
Weighted Average Cost Of Capital
Share price | $ 16.23 |
---|---|
Beta | 0.982 |
Diluted Shares Outstanding | 30.39 |
Cost of Debt | |
Tax Rate | 27.95 |
After-tax Cost of Debt | 3.34% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 9.210 |
Total Debt | 779.41 |
Total Equity | 493.26 |
Total Capital | 1,272.67 |
Debt Weighting | 61.24 |
Equity Weighting | 38.76 |
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 | 224 | 235.55 | 271.85 | 292 | 313.65 | 336.90 | 361.88 | 388.71 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 76.63 | 58.80 | 60.20 | 93.73 | 147.31 | 109.23 | 117.33 | 126.03 | 135.38 | 145.41 |
Capital Expenditure | -3.70 | -1.58 | -4.39 | -2.72 | -1.93 | -3.74 | -4.01 | -4.31 | -4.63 | -4.98 |
Free Cash Flow | 72.94 | 57.22 | 55.81 | 91.01 | 145.38 | 105.50 | 113.32 | 121.72 | 130.74 | 140.44 |
WACC | ||||||||||
PV LFCF | 99.88 | 101.58 | 103.30 | 105.06 | 106.84 | |||||
SUM PV LFCF | 516.67 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 5.62 |
Free cash flow (t + 1) | 143.24 |
Terminal Value | 3,957.04 |
Present Value of Terminal Value | 3,010.51 |
Intrinsic Value
Enterprise Value | 3,527.18 |
---|---|
Net Debt | 426.99 |
Equity Value | 3,100.19 |
Shares Outstanding | 30.39 |
Equity Value Per Share | 102.01 |