Discounted Cash Flow (DCF) Analysis Levered
Investar Holding Corporation (ISTR)
$11.47
-0.15 (-1.29%)
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 | 61.59 | 71.04 | 85.67 | 96.26 | 108.39 | 124.90 | 143.91 | 165.82 | 191.07 | 220.16 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 16.41 | 18.57 | 17.75 | 33.48 | 42.75 | 36.90 | 42.52 | 48.99 | 56.45 | 65.04 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -4.94 | -7.92 | -7.59 | -3.32 | -1.06 | -8.10 | -9.34 | -10.76 | -12.40 | -14.28 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 11.48 | 10.65 | 10.16 | 30.16 | 41.69 | 28.80 | 33.18 | 38.23 | 44.05 | 50.76 |
Weighted Average Cost Of Capital
Share price | $ 11.47 |
---|---|
Beta | 0.648 |
Diluted Shares Outstanding | 10.18 |
Cost of Debt | |
Tax Rate | 19.48 |
After-tax Cost of Debt | 3.33% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 7.196 |
Total Debt | 439.74 |
Total Equity | 116.77 |
Total Capital | 556.51 |
Debt Weighting | 79.02 |
Equity Weighting | 20.98 |
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 | 61.59 | 71.04 | 85.67 | 96.26 | 108.39 | 124.90 | 143.91 | 165.82 | 191.07 | 220.16 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 16.41 | 18.57 | 17.75 | 33.48 | 42.75 | 36.90 | 42.52 | 48.99 | 56.45 | 65.04 |
Capital Expenditure | -4.94 | -7.92 | -7.59 | -3.32 | -1.06 | -8.10 | -9.34 | -10.76 | -12.40 | -14.28 |
Free Cash Flow | 11.48 | 10.65 | 10.16 | 30.16 | 41.69 | 28.80 | 33.18 | 38.23 | 44.05 | 50.76 |
WACC | ||||||||||
PV LFCF | 22.57 | 24.98 | 27.64 | 30.58 | 33.83 | |||||
SUM PV LFCF | 170.99 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 4.14 |
Free cash flow (t + 1) | 51.78 |
Terminal Value | 2,419.41 |
Present Value of Terminal Value | 1,975.25 |
Intrinsic Value
Enterprise Value | 2,146.24 |
---|---|
Net Debt | 399.67 |
Equity Value | 1,746.57 |
Shares Outstanding | 10.18 |
Equity Value Per Share | 171.56 |