Discounted Cash Flow (DCF) Analysis Levered
LendingClub Corporation (LC)
$9.265
-0.07 (-0.80%)
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 | 595.44 | 655.20 | 243.51 | 802.42 | 1,187.22 | 1,854.08 | 2,895.51 | 4,521.92 | 7,061.89 | 11,028.56 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | -638.95 | -270.64 | 418.03 | 239.87 | 80.60 | 221.52 | 345.94 | 540.26 | 843.72 | 1,317.64 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -52.98 | -50.67 | -31.15 | -34.41 | -100.05 | -156.25 | -244.02 | -381.08 | -595.14 | -929.43 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | -691.93 | -321.31 | 386.88 | 205.46 | -19.45 | 65.26 | 101.92 | 159.18 | 248.58 | 388.21 |
Weighted Average Cost Of Capital
Share price | $ 9.265 |
---|---|
Beta | 1.945 |
Diluted Shares Outstanding | 108.10 |
Cost of Debt | |
Tax Rate | -89.29 |
After-tax Cost of Debt | 124.78% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 12.932 |
Total Debt | 66.13 |
Total Equity | 1,001.52 |
Total Capital | 1,067.65 |
Debt Weighting | 6.19 |
Equity Weighting | 93.81 |
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 | 595.44 | 655.20 | 243.51 | 802.42 | 1,187.22 | 1,854.08 | 2,895.51 | 4,521.92 | 7,061.89 | 11,028.56 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | -638.95 | -270.64 | 418.03 | 239.87 | 80.60 | 221.52 | 345.94 | 540.26 | 843.72 | 1,317.64 |
Capital Expenditure | -52.98 | -50.67 | -31.15 | -34.41 | -100.05 | -156.25 | -244.02 | -381.08 | -595.14 | -929.43 |
Free Cash Flow | -691.93 | -321.31 | 386.88 | 205.46 | -19.45 | 65.26 | 101.92 | 159.18 | 248.58 | 388.21 |
WACC | ||||||||||
PV LFCF | 54.45 | 70.95 | 92.44 | 120.44 | 156.93 | |||||
SUM PV LFCF | 495.20 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 19.86 |
Free cash flow (t + 1) | 395.98 |
Terminal Value | 2,217.12 |
Present Value of Terminal Value | 896.23 |
Intrinsic Value
Enterprise Value | 1,391.43 |
---|---|
Net Debt | -990.90 |
Equity Value | 2,382.33 |
Shares Outstanding | 108.10 |
Equity Value Per Share | 22.04 |