Discounted Cash Flow (DCF) Analysis Levered
Ocwen Financial Corporation (OCN)
$23.49
+0.01 (+0.04%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
Revenue | 1,140.93 | 976.91 | 1,076.47 | 999.50 | 1,042 | 1,023.55 | 1,005.42 | 987.62 | 970.13 | 952.96 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 151.94 | 260.97 | -472.15 | 173.20 | -61.30 | 15.59 | 15.31 | 15.04 | 14.78 | 14.52 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -1.95 | -4.10 | -3.30 | -5.50 | -175.10 | -37.36 | -36.70 | -36.05 | -35.41 | -34.79 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 149.99 | 256.87 | -475.46 | 167.70 | -236.40 | -21.77 | -21.39 | -21.01 | -20.64 | -20.27 |
Weighted Average Cost Of Capital
Share price | $ 23.49 |
---|---|
Beta | 1.874 |
Diluted Shares Outstanding | 7.64 |
Cost of Debt | |
Tax Rate | -9.64 |
After-tax Cost of Debt | 4.36% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 13.201 |
Total Debt | 11,429.80 |
Total Equity | 179.36 |
Total Capital | 11,609.16 |
Debt Weighting | 98.46 |
Equity Weighting | 1.54 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
Revenue | 1,140.93 | 976.91 | 1,076.47 | 999.50 | 1,042 | 1,023.55 | 1,005.42 | 987.62 | 970.13 | 952.96 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 151.94 | 260.97 | -472.15 | 173.20 | -61.30 | 15.59 | 15.31 | 15.04 | 14.78 | 14.52 |
Capital Expenditure | -1.95 | -4.10 | -3.30 | -5.50 | -175.10 | -37.36 | -36.70 | -36.05 | -35.41 | -34.79 |
Free Cash Flow | 149.99 | 256.87 | -475.46 | 167.70 | -236.40 | -21.77 | -21.39 | -21.01 | -20.64 | -20.27 |
WACC | ||||||||||
PV LFCF | -20.84 | -19.59 | -18.42 | -17.31 | -16.27 | |||||
SUM PV LFCF | -92.43 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 4.49 |
Free cash flow (t + 1) | -20.68 |
Terminal Value | -830.40 |
Present Value of Terminal Value | -666.68 |
Intrinsic Value
Enterprise Value | -759.11 |
---|---|
Net Debt | 11,174.70 |
Equity Value | -11,933.81 |
Shares Outstanding | 7.64 |
Equity Value Per Share | -1,562.92 |