Discounted Cash Flow (DCF) Analysis Levered
Hawthorn Bancshares, Inc. (HWBK)
$24.25
-0.42 (-1.72%)
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 | 48.24 | 50.70 | 53.75 | 64.11 | 75.08 | 83.99 | 93.96 | 105.12 | 117.60 | 131.56 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 12.48 | 16.30 | 19.09 | 20.15 | 30.61 | 27.84 | 31.15 | 34.85 | 38.98 | 43.61 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -1.27 | -2.33 | -2.17 | -1.83 | -0.59 | -2.50 | -2.80 | -3.13 | -3.50 | -3.92 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 11.21 | 13.98 | 16.92 | 18.32 | 30.02 | 25.34 | 28.35 | 31.72 | 35.48 | 39.70 |
Weighted Average Cost Of Capital
Share price | $ 24.25 |
---|---|
Beta | 0.419 |
Diluted Shares Outstanding | 6.76 |
Cost of Debt | |
Tax Rate | 20.19 |
After-tax Cost of Debt | 3.99% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 5.509 |
Total Debt | - |
Total Equity | 163.85 |
Total Capital | 163.85 |
Debt Weighting | 0.00 |
Equity Weighting | 100.00 |
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 | 48.24 | 50.70 | 53.75 | 64.11 | 75.08 | 83.99 | 93.96 | 105.12 | 117.60 | 131.56 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 12.48 | 16.30 | 19.09 | 20.15 | 30.61 | 27.84 | 31.15 | 34.85 | 38.98 | 43.61 |
Capital Expenditure | -1.27 | -2.33 | -2.17 | -1.83 | -0.59 | -2.50 | -2.80 | -3.13 | -3.50 | -3.92 |
Free Cash Flow | 11.21 | 13.98 | 16.92 | 18.32 | 30.02 | 25.34 | 28.35 | 31.72 | 35.48 | 39.70 |
WACC | ||||||||||
PV LFCF | 18.37 | 19.48 | 20.65 | 21.90 | 23.22 | |||||
SUM PV LFCF | 135.48 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 5.51 |
Free cash flow (t + 1) | 40.49 |
Terminal Value | 1,153.53 |
Present Value of Terminal Value | 882.19 |
Intrinsic Value
Enterprise Value | 1,017.67 |
---|---|
Net Debt | - |
Equity Value | 1,017.67 |
Shares Outstanding | 6.76 |
Equity Value Per Share | 150.62 |