Discounted Cash Flow (DCF) Analysis Levered
HarborOne Bancorp, Inc. (HONE)
$8.65
-0.28 (-3.14%)
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 | 131.43 | 162.73 | 247.06 | 224.53 | 202.53 | 231.25 | 264.05 | 301.49 | 344.25 | 393.07 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 61.17 | -36.13 | -26.95 | 224.30 | 68.90 | 68.15 | 77.81 | 88.85 | 101.45 | 115.83 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -5.54 | -4.43 | -5.74 | -6.46 | -2.26 | -6.13 | -7 | -8 | -9.13 | -10.43 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 55.62 | -40.56 | -32.69 | 217.84 | 66.63 | 62.01 | 70.81 | 80.85 | 92.31 | 105.41 |
Weighted Average Cost Of Capital
Share price | $ 8.65 |
---|---|
Beta | 0.678 |
Diluted Shares Outstanding | 47.12 |
Cost of Debt | |
Tax Rate | 26.15 |
After-tax Cost of Debt | 3.89% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 6.893 |
Total Debt | 434.96 |
Total Equity | 407.57 |
Total Capital | 842.53 |
Debt Weighting | 51.63 |
Equity Weighting | 48.37 |
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 | 131.43 | 162.73 | 247.06 | 224.53 | 202.53 | 231.25 | 264.05 | 301.49 | 344.25 | 393.07 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 61.17 | -36.13 | -26.95 | 224.30 | 68.90 | 68.15 | 77.81 | 88.85 | 101.45 | 115.83 |
Capital Expenditure | -5.54 | -4.43 | -5.74 | -6.46 | -2.26 | -6.13 | -7 | -8 | -9.13 | -10.43 |
Free Cash Flow | 55.62 | -40.56 | -32.69 | 217.84 | 66.63 | 62.01 | 70.81 | 80.85 | 92.31 | 105.41 |
WACC | ||||||||||
PV LFCF | 58.87 | 63.81 | 69.17 | 74.97 | 81.26 | |||||
SUM PV LFCF | 348.08 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 5.34 |
Free cash flow (t + 1) | 107.51 |
Terminal Value | 3,218.98 |
Present Value of Terminal Value | 2,481.71 |
Intrinsic Value
Enterprise Value | 2,829.79 |
---|---|
Net Debt | 336.94 |
Equity Value | 2,492.85 |
Shares Outstanding | 47.12 |
Equity Value Per Share | 52.91 |