Discounted Cash Flow (DCF) Analysis Levered

CoreCard Corporation (INS)

$40.15

-0.13 (-0.32%)
All numbers are in Millions, Currency in USD
Stock DCF: 89.49 | 40.15 | undervalue

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 9.3020.1034.3035.8748.2575.49118.10184.77289.09452.29
Revenue (%)
Operating Cash Flow -2.476.6610.5820.9711.5718.1028.3144.3069.31108.43
Operating Cash Flow (%)
Capital Expenditure -0.89-0.87-1.68-6.87-4.58-7.16-11.21-17.54-27.44-42.93
Capital Expenditure (%)
Free Cash Flow -3.365.798.9114.096.9910.9317.1026.7641.8765.50

Weighted Average Cost Of Capital

Share price $ 40.15
Beta 0.894
Diluted Shares Outstanding 8.92
Cost of Debt
Tax Rate 23.16
After-tax Cost of Debt -2.98%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.817
Total Debt 2.71
Total Equity 358.12
Total Capital 360.83
Debt Weighting 0.75
Equity Weighting 99.25
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 9.3020.1034.3035.8748.2575.49118.10184.77289.09452.29
Operating Cash Flow -2.476.6610.5820.9711.5718.1028.3144.3069.31108.43
Capital Expenditure -0.89-0.87-1.68-6.87-4.58-7.16-11.21-17.54-27.44-42.93
Free Cash Flow -3.365.798.9114.096.9910.9317.1026.7641.8765.50
WACC
PV LFCF 8.5012.2417.6125.3436.46
SUM PV LFCF 118.40

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.73
Free cash flow (t + 1) 66.81
Terminal Value 992.78
Present Value of Terminal Value 653.29

Intrinsic Value

Enterprise Value 771.69
Net Debt -26.54
Equity Value 798.23
Shares Outstanding 8.92
Equity Value Per Share 89.49