Discounted Cash Flow (DCF) Analysis Levered
Home Bancshares, Inc. (Conway, AR) (HOMB)
$21.821
-0.14 (-0.63%)
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 | 655.34 | 662.74 | 684.56 | 699.78 | 918.88 | 1,006.08 | 1,101.54 | 1,206.06 | 1,320.51 | 1,445.81 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 302.22 | 247.42 | 291.73 | 389.38 | 413.17 | 456.10 | 499.38 | 546.76 | 598.64 | 655.45 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -7.95 | -14.90 | -11.55 | -10.28 | -9.02 | -15.29 | -16.74 | -18.33 | -20.07 | -21.97 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 294.27 | 232.52 | 280.18 | 379.10 | 404.16 | 440.81 | 482.64 | 528.43 | 578.57 | 633.47 |
Weighted Average Cost Of Capital
Share price | $ 21.821 |
---|---|
Beta | 1.156 |
Diluted Shares Outstanding | 195.02 |
Cost of Debt | |
Tax Rate | 22.64 |
After-tax Cost of Debt | 8.45% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 9.835 |
Total Debt | 1,090.42 |
Total Equity | 4,255.51 |
Total Capital | 5,345.93 |
Debt Weighting | 20.40 |
Equity Weighting | 79.60 |
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 | 655.34 | 662.74 | 684.56 | 699.78 | 918.88 | 1,006.08 | 1,101.54 | 1,206.06 | 1,320.51 | 1,445.81 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 302.22 | 247.42 | 291.73 | 389.38 | 413.17 | 456.10 | 499.38 | 546.76 | 598.64 | 655.45 |
Capital Expenditure | -7.95 | -14.90 | -11.55 | -10.28 | -9.02 | -15.29 | -16.74 | -18.33 | -20.07 | -21.97 |
Free Cash Flow | 294.27 | 232.52 | 280.18 | 379.10 | 404.16 | 440.81 | 482.64 | 528.43 | 578.57 | 633.47 |
WACC | ||||||||||
PV LFCF | 402.38 | 402.16 | 401.93 | 401.71 | 401.48 | |||||
SUM PV LFCF | 2,009.66 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 9.55 |
Free cash flow (t + 1) | 646.14 |
Terminal Value | 8,558.20 |
Present Value of Terminal Value | 5,424.01 |
Intrinsic Value
Enterprise Value | 7,433.67 |
---|---|
Net Debt | 365.63 |
Equity Value | 7,068.04 |
Shares Outstanding | 195.02 |
Equity Value Per Share | 36.24 |