Discounted Cash Flow (DCF) Analysis Levered
Home Bancshares, Inc. (Conway, AR) (HOMB)
$20.3875
-0.13 (-0.65%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 544.43 | 655.34 | 654.13 | 684.56 | 699.78 | 747.13 | 797.68 | 851.65 | 909.27 | 970.79 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 176.91 | 302.22 | 247.41 | 291.73 | 389.38 | 320.81 | 342.51 | 365.68 | 390.43 | 416.84 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -5.19 | -7.95 | -14.90 | -11.55 | -10.28 | -11.36 | -12.13 | -12.95 | -13.82 | -14.76 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 171.72 | 294.27 | 232.52 | 280.18 | 379.10 | 309.45 | 330.39 | 352.74 | 376.60 | 402.09 |
Weighted Average Cost Of Capital
Share price | $ 20.3,875 |
---|---|
Beta | 1.303 |
Diluted Shares Outstanding | 164.31 |
Cost of Debt | |
Tax Rate | 23.45 |
After-tax Cost of Debt | 5.18% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 8.998 |
Total Debt | 771.09 |
Total Equity | 3,349.79 |
Total Capital | 4,120.88 |
Debt Weighting | 18.71 |
Equity Weighting | 81.29 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 544.43 | 655.34 | 654.13 | 684.56 | 699.78 | 747.13 | 797.68 | 851.65 | 909.27 | 970.79 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 176.91 | 302.22 | 247.41 | 291.73 | 389.38 | 320.81 | 342.51 | 365.68 | 390.43 | 416.84 |
Capital Expenditure | -5.19 | -7.95 | -14.90 | -11.55 | -10.28 | -11.36 | -12.13 | -12.95 | -13.82 | -14.76 |
Free Cash Flow | 171.72 | 294.27 | 232.52 | 280.18 | 379.10 | 309.45 | 330.39 | 352.74 | 376.60 | 402.09 |
WACC | ||||||||||
PV LFCF | 285.79 | 281.79 | 277.85 | 273.96 | 270.13 | |||||
SUM PV LFCF | 1,389.52 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 8.28 |
Free cash flow (t + 1) | 410.13 |
Terminal Value | 6,530.68 |
Present Value of Terminal Value | 4,387.50 |
Intrinsic Value
Enterprise Value | 5,777.02 |
---|---|
Net Debt | -2,879.22 |
Equity Value | 8,656.24 |
Shares Outstanding | 164.31 |
Equity Value Per Share | 52.68 |