Discounted Cash Flow (DCF) Analysis Levered

LCNB Corp. (LCNB)

$14.62

-0.17 (-1.15%)
Financial Summary
Financial Statements
Quarter Financials
Chart
Financial Ratios
Profile
Historical Data
DCFDCF Levered
All numbers are in Millions, Currency in USD
Stock DCF: 37.71 | 14.62 | undervalue

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 57.6764.8970.1469.5171.4675.4879.7384.2188.9593.96
Revenue (%)
Operating Cash Flow 19.7421.9713.6817.8225.2422.4223.6925.0226.4327.91
Operating Cash Flow (%)
Capital Expenditure -0.60-3.93-2.79-1.94-0.88-2.28-2.41-2.54-2.69-2.84
Capital Expenditure (%)
Free Cash Flow 19.1418.0310.8915.8824.3620.1421.2822.4723.7425.07

Weighted Average Cost Of Capital

Share price $ 14.62
Beta 0.755
Diluted Shares Outstanding 11.41
Cost of Debt
Tax Rate 17.88
After-tax Cost of Debt 3.99%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.001
Total Debt 96.90
Total Equity 166.83
Total Capital 263.73
Debt Weighting 36.74
Equity Weighting 63.26
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 57.6764.8970.1469.5171.4675.4879.7384.2188.9593.96
Operating Cash Flow 19.7421.9713.6817.8225.2422.4223.6925.0226.4327.91
Capital Expenditure -0.60-3.93-2.79-1.94-0.88-2.28-2.41-2.54-2.69-2.84
Free Cash Flow 19.1418.0310.8915.8824.3620.1421.2822.4723.7425.07
WACC
PV LFCF 13.7813.6613.5513.4313.32
SUM PV LFCF 92.96

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.53
Free cash flow (t + 1) 25.58
Terminal Value 564.60
Present Value of Terminal Value 411.51

Intrinsic Value

Enterprise Value 504.47
Net Debt 74.20
Equity Value 430.27
Shares Outstanding 11.41
Equity Value Per Share 37.71