Discounted Cash Flow (DCF) Analysis Levered
KB Financial Group Inc. (KB)
$40.15
-0.49 (-1.21%)
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 | 12,531,647 | 12,495,175.02 | 15,050,934 | 17,037,416.02 | 16,683,025.16 | 17,987,689.94 | 19,394,383.59 | 20,911,085.10 | 22,546,397.40 | 24,309,596.25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -8,957,618.02 | 9,400,705.94 | -11,540,694.06 | -6,700,265.07 | 5,686,083.97 | -2,812,072.95 | -3,031,985.86 | -3,269,096.64 | -3,524,750.23 | -3,800,396.73 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -578,433.01 | -942,293.01 | -607,721.04 | -478,308.93 | -534,194.97 | -798,805.43 | -861,274.51 | -928,628.88 | -1,001,250.56 | -1,079,551.49 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -9,536,051.02 | 8,458,412.93 | -12,148,415.11 | -7,178,574 | 5,151,889 | -3,610,878.38 | -3,893,260.37 | -4,197,725.52 | -4,526,000.79 | -4,879,948.22 |
Weighted Average Cost Of Capital
| Share price | $ 40.15 |
|---|---|
| Beta | 0.722 |
| Diluted Shares Outstanding | 410.54 |
| Cost of Debt | |
| Tax Rate | 24.17 |
| After-tax Cost of Debt | 4.15% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.209 |
| Total Debt | 140,415,569 |
| Total Equity | 16,483.18 |
| Total Capital | 140,432,052.18 |
| Debt Weighting | 99.99 |
| Equity Weighting | 0.01 |
| 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 | 12,531,647 | 12,495,175.02 | 15,050,934 | 17,037,416.02 | 16,683,025.16 | 17,987,689.94 | 19,394,383.59 | 20,911,085.10 | 22,546,397.40 | 24,309,596.25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -8,957,618.02 | 9,400,705.94 | -11,540,694.06 | -6,700,265.07 | 5,686,083.97 | -2,812,072.95 | -3,031,985.86 | -3,269,096.64 | -3,524,750.23 | -3,800,396.73 |
| Capital Expenditure | -578,433.01 | -942,293.01 | -607,721.04 | -478,308.93 | -534,194.97 | -798,805.43 | -861,274.51 | -928,628.88 | -1,001,250.56 | -1,079,551.49 |
| Free Cash Flow | -9,536,051.02 | 8,458,412.93 | -12,148,415.11 | -7,178,574 | 5,151,889 | -3,610,878.38 | -3,893,260.37 | -4,197,725.52 | -4,526,000.79 | -4,879,948.22 |
| WACC | ||||||||||
| PV LFCF | -3,466,997.96 | -3,589,177.20 | -3,715,662.11 | -3,846,604.44 | -3,982,161.25 | |||||
| SUM PV LFCF | -18,600,602.97 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 4.15 |
| Free cash flow (t + 1) | -4,977,547.18 |
| Terminal Value | -231,513,822.48 |
| Present Value of Terminal Value | -188,921,138.52 |
Intrinsic Value
| Enterprise Value | -207,521,741.49 |
|---|---|
| Net Debt | 108,352,148 |
| Equity Value | -315,873,889.49 |
| Shares Outstanding | 410.54 |
| Equity Value Per Share | -769,410.87 |