Discounted Cash Flow (DCF) Analysis Levered

MVB Financial Corp. (MVBF)

$28.2

-0.82 (-2.83%)
All numbers are in Millions, Currency in USD
Stock DCF: 114.39 | 28.2 | undervalue

Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 81.8087.14120.96117.10139.75161.24186.03214.63247.63285.71
Revenue (%)
Operating Cash Flow 33.126.69-8.06112.2447.9955.3763.8873.7085.0398.10
Operating Cash Flow (%)
Capital Expenditure -4.50-2.69-2.04-6.62-5.56-6.42-7.41-8.54-9.86-11.37
Capital Expenditure (%)
Free Cash Flow 28.634-10.10105.6242.4248.9556.4765.1675.1786.73

Weighted Average Cost Of Capital

Share price $ 28.2
Beta 0.923
Diluted Shares Outstanding 12.94
Cost of Debt
Tax Rate 19.47
After-tax Cost of Debt 6.92%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.322
Total Debt 73.03
Total Equity 365.05
Total Capital 438.08
Debt Weighting 16.67
Equity Weighting 83.33
Wacc

Build Up Free Cash Flow

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 81.8087.14120.96117.10139.75161.24186.03214.63247.63285.71
Operating Cash Flow 33.126.69-8.06112.2447.9955.3763.8873.7085.0398.10
Capital Expenditure -4.50-2.69-2.04-6.62-5.56-6.42-7.41-8.54-9.86-11.37
Free Cash Flow 28.634-10.10105.6242.4248.9556.4765.1675.1786.73
WACC
PV LFCF 30.6932.7634.9737.3239.84
SUM PV LFCF 259.07

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.09
Free cash flow (t + 1) 88.47
Terminal Value 1,452.64
Present Value of Terminal Value 984.53

Intrinsic Value

Enterprise Value 1,243.60
Net Debt -237.13
Equity Value 1,480.73
Shares Outstanding 12.94
Equity Value Per Share 114.39