Discounted Cash Flow (DCF) Analysis Levered

International General Insurance Hol... (IGIC)

$13

-0.06 (-0.46%)
All numbers are in Millions, Currency in USD
Stock DCF: 43.49 | 13 | undervalue

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 207.99249.94296357.10386.60451.84528.09617.20721.35843.08
Revenue (%)
Operating Cash Flow 104.0921.40-90.57129.79-85.3538.2144.6552.1960.9971.29
Operating Cash Flow (%)
Capital Expenditure -1.15-1.06-1.90-2.35-1.27-2.35-2.75-3.21-3.75-4.39
Capital Expenditure (%)
Free Cash Flow 102.9420.35-92.48127.44-86.6235.8541.9048.9857.2466.90

Weighted Average Cost Of Capital

Share price $ 13
Beta 0.192
Diluted Shares Outstanding 45.50
Cost of Debt
Tax Rate 9.87
After-tax Cost of Debt 3.91%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.245
Total Debt 3.07
Total Equity 591.50
Total Capital 594.57
Debt Weighting 0.52
Equity Weighting 99.48
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 207.99249.94296357.10386.60451.84528.09617.20721.35843.08
Operating Cash Flow 104.0921.40-90.57129.79-85.3538.2144.6552.1960.9971.29
Capital Expenditure -1.15-1.06-1.90-2.35-1.27-2.35-2.75-3.21-3.75-4.39
Free Cash Flow 102.9420.35-92.48127.44-86.6235.8541.9048.9857.2466.90
WACC
PV LFCF 34.0737.8442.0246.6651.82
SUM PV LFCF 212.41

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.24
Free cash flow (t + 1) 68.24
Terminal Value 2,106.11
Present Value of Terminal Value 1,631.46

Intrinsic Value

Enterprise Value 1,843.87
Net Debt -134.93
Equity Value 1,978.80
Shares Outstanding 45.50
Equity Value Per Share 43.49