Discounted Cash Flow (DCF) Analysis Levered
Kemper Corporation (KMPR)
$44.12
+0.85 (+1.96%)
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 | 3,725.10 | 5,038.20 | 5,200.80 | 5,736.30 | 5,576.80 | 6,218.04 | 6,933.01 | 7,730.19 | 8,619.04 | 9,610.08 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 539.20 | 534.30 | 448 | 350.70 | -210.30 | 448.15 | 499.68 | 557.14 | 621.20 | 692.63 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -65.30 | -84 | -53.40 | -57.80 | -76.05 | -84.79 | -94.54 | -105.41 | -117.53 | -131.05 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 473.90 | 450.30 | 394.60 | 292.90 | -286.35 | 363.36 | 405.14 | 451.73 | 503.67 | 561.58 |
Weighted Average Cost Of Capital
| Share price | $ 44.12 |
|---|---|
| Beta | 0.892 |
| Diluted Shares Outstanding | 64.26 |
| Cost of Debt | |
| Tax Rate | 22.67 |
| After-tax Cost of Debt | 3.87% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 7.903 |
| Total Debt | - |
| Total Equity | 2,835.35 |
| Total Capital | 2,835.35 |
| Debt Weighting | 0.00 |
| Equity Weighting | 100.00 |
| 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 | 3,725.10 | 5,038.20 | 5,200.80 | 5,736.30 | 5,576.80 | 6,218.04 | 6,933.01 | 7,730.19 | 8,619.04 | 9,610.08 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 539.20 | 534.30 | 448 | 350.70 | -210.30 | 448.15 | 499.68 | 557.14 | 621.20 | 692.63 |
| Capital Expenditure | -65.30 | -84 | -53.40 | -57.80 | -76.05 | -84.79 | -94.54 | -105.41 | -117.53 | -131.05 |
| Free Cash Flow | 473.90 | 450.30 | 394.60 | 292.90 | -286.35 | 363.36 | 405.14 | 451.73 | 503.67 | 561.58 |
| WACC | ||||||||||
| PV LFCF | 336.76 | 347.99 | 359.59 | 371.58 | 383.98 | |||||
| SUM PV LFCF | 1,799.90 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 7.90 |
| Free cash flow (t + 1) | 572.81 |
| Terminal Value | 9,708.67 |
| Present Value of Terminal Value | 6,638.23 |
Intrinsic Value
| Enterprise Value | 8,438.13 |
|---|---|
| Net Debt | -212.40 |
| Equity Value | 8,650.53 |
| Shares Outstanding | 64.26 |
| Equity Value Per Share | 134.61 |