Discounted Cash Flow (DCF) Analysis Levered

Harbor Custom Development, Inc. (HCDI)

$1.01

+0.01 (+1.00%)
All numbers are in Millions, Currency in USD
Stock DCF: 52,961,247.30 | 1.01 | undervalue

Free Cash Flow

Year
A/P
2018
Actual
2019
Actual
2020
Projected
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 5.7330.95167.20903.184,878.7326,353.57142,354.69768,960.774,153,714
Revenue (%)
Operating Cash Flow -8.28-3.180-86.42-2,004.14-10,825.81-58,478.05-315,882.32-1,706,309.16
Operating Cash Flow (%)
Capital Expenditure -0.51-0.40-0-0.75-126.07-681.01-3,678.63-19,870.94-107,337.33
Capital Expenditure (%)
Free Cash Flow -8.79-3.590-87.17-2,130.21-11,506.82-62,156.68-335,753.26-1,813,646.49

Weighted Average Cost Of Capital

Share price $ 1.01
Beta 0.175
Diluted Shares Outstanding 5.98
Cost of Debt
Tax Rate 16.63
After-tax Cost of Debt 0.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 4.703
Total Debt 13.43
Total Equity 6.04
Total Capital 19.46
Debt Weighting 68.98
Equity Weighting 31.02
Wacc

Build Up Free Cash Flow

Year
A/P
2018
Actual
2019
Actual
2020
Projected
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 5.7330.95167.20903.184,878.7326,353.57142,354.69768,960.774,153,714
Operating Cash Flow -8.28-3.180-86.42-2,004.14-10,825.81-58,478.05-315,882.32-1,706,309.16
Capital Expenditure -0.51-0.40-0-0.75-126.07-681.01-3,678.63-19,870.94-107,337.33
Free Cash Flow -8.79-3.590-87.17-2,130.21-11,506.82-62,156.68-335,753.26-1,813,646.49
WACC
PV LFCF 0-88.44-2,130.21-11,341.24-60,380.70-321,466.46-1,711,485.43
SUM PV LFCF -2,076,487.32

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 1.46
Free cash flow (t + 1) -1,849,919.42
Terminal Value 342,577,669.83
Present Value of Terminal Value 318,628,604.23

Intrinsic Value

Enterprise Value 316,552,116.91
Net Debt -12.20
Equity Value 316,552,129.11
Shares Outstanding 5.98
Equity Value Per Share 52,961,247.30