Discounted Cash Flow (DCF) Analysis Levered

Northeast Bank (NBN)

$40.9

-0.40 (-0.97%)
All numbers are in Millions, Currency in USD
Stock DCF: 100.54 | 40.9 | 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 58.9866.5276.11135.85104.67126.32152.44183.97222.02267.94
Revenue (%)
Operating Cash Flow 19.4518.7716.318.3430.5029.7935.9543.3852.3563.18
Operating Cash Flow (%)
Capital Expenditure -0.98-0.30-1.16-1.26-1.06-1.41-1.70-2.05-2.47-2.98
Capital Expenditure (%)
Free Cash Flow 18.4718.4815.157.0829.4428.3834.2541.3349.8860.20

Weighted Average Cost Of Capital

Share price $ 40.9
Beta 1.254
Diluted Shares Outstanding 7.90
Cost of Debt
Tax Rate 31.50
After-tax Cost of Debt 18.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.410
Total Debt 19.45
Total Equity 323.22
Total Capital 342.67
Debt Weighting 5.68
Equity Weighting 94.32
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 58.9866.5276.11135.85104.67126.32152.44183.97222.02267.94
Operating Cash Flow 19.4518.7716.318.3430.5029.7935.9543.3852.3563.18
Capital Expenditure -0.98-0.30-1.16-1.26-1.06-1.41-1.70-2.05-2.47-2.98
Free Cash Flow 18.4718.4815.157.0829.4428.3834.2541.3349.8860.20
WACC
PV LFCF 25.8228.3631.1434.1937.55
SUM PV LFCF 157.06

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 9.90
Free cash flow (t + 1) 61.40
Terminal Value 777.27
Present Value of Terminal Value 484.82

Intrinsic Value

Enterprise Value 641.89
Net Debt -152.63
Equity Value 794.51
Shares Outstanding 7.90
Equity Value Per Share 100.54