Discounted Cash Flow (DCF) Analysis Levered
Investors Bancorp, Inc. (ISBC)
$13.87
-0.35 (-2.46%)
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 | 715.41 | 690.10 | 708.49 | 793.07 | 835.48 | 869.76 | 905.44 | 942.59 | 981.27 | 1,021.53 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 302.41 | 275.57 | 160.65 | 224.30 | 494.78 | 334.65 | 348.38 | 362.68 | 377.56 | 393.05 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -20.23 | -14.30 | -17.46 | -19.84 | -14.26 | -20.13 | -20.96 | -21.82 | -22.71 | -23.65 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 282.17 | 261.27 | 143.20 | 204.46 | 480.53 | 314.52 | 327.42 | 340.86 | 354.84 | 369.40 |
Weighted Average Cost Of Capital
Share price | $ 13.87 |
---|---|
Beta | 0.000 |
Diluted Shares Outstanding | 236.44 |
Cost of Debt | |
Tax Rate | 26.86 |
After-tax Cost of Debt | 3.28% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 4.626 |
Total Debt | 3,298.60 |
Total Equity | 3,279.37 |
Total Capital | 6,577.97 |
Debt Weighting | 50.15 |
Equity Weighting | 49.85 |
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 | 715.41 | 690.10 | 708.49 | 793.07 | 835.48 | 869.76 | 905.44 | 942.59 | 981.27 | 1,021.53 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 302.41 | 275.57 | 160.65 | 224.30 | 494.78 | 334.65 | 348.38 | 362.68 | 377.56 | 393.05 |
Capital Expenditure | -20.23 | -14.30 | -17.46 | -19.84 | -14.26 | -20.13 | -20.96 | -21.82 | -22.71 | -23.65 |
Free Cash Flow | 282.17 | 261.27 | 143.20 | 204.46 | 480.53 | 314.52 | 327.42 | 340.86 | 354.84 | 369.40 |
WACC | ||||||||||
PV LFCF | 302.57 | 303.01 | 303.46 | 303.91 | 304.35 | |||||
SUM PV LFCF | 1,517.30 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 3.95 |
Free cash flow (t + 1) | 376.79 |
Terminal Value | 19,322.64 |
Present Value of Terminal Value | 15,920.03 |
Intrinsic Value
Enterprise Value | 17,437.33 |
---|---|
Net Debt | 3,010.61 |
Equity Value | 14,426.73 |
Shares Outstanding | 236.44 |
Equity Value Per Share | 61.02 |