Discounted Cash Flow (DCF) Analysis Levered

OP Bancorp (OPBK)

$11.85

+0.06 (+0.51%)
All numbers are in Millions, Currency in USD
Stock DCF: 39.78 | 11.85 | 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 44.7050.2955.7056.1477.0488.85102.47118.17136.28157.16
Revenue (%)
Operating Cash Flow -2.1530.6118.16-4.9615.3817.7320.4523.5927.2031.37
Operating Cash Flow (%)
Capital Expenditure -0.42-1.20-1.74-0.62-1.45-1.68-1.93-2.23-2.57-2.96
Capital Expenditure (%)
Free Cash Flow -2.5729.4116.42-5.5713.9216.0618.5221.3624.6328.41

Weighted Average Cost Of Capital

Share price $ 11.85
Beta 0.536
Diluted Shares Outstanding 15.16
Cost of Debt
Tax Rate 29.03
After-tax Cost of Debt 21.57%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.191
Total Debt 10.31
Total Equity 179.59
Total Capital 189.90
Debt Weighting 5.43
Equity Weighting 94.57
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 44.7050.2955.7056.1477.0488.85102.47118.17136.28157.16
Operating Cash Flow -2.1530.6118.16-4.9615.3817.7320.4523.5927.2031.37
Capital Expenditure -0.42-1.20-1.74-0.62-1.45-1.68-1.93-2.23-2.57-2.96
Free Cash Flow -2.5729.4116.42-5.5713.9216.0618.5221.3624.6328.41
WACC
PV LFCF 1516.1717.4218.7720.22
SUM PV LFCF 87.58

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.03
Free cash flow (t + 1) 28.97
Terminal Value 576.02
Present Value of Terminal Value 410.12

Intrinsic Value

Enterprise Value 497.70
Net Debt -105.15
Equity Value 602.85
Shares Outstanding 15.16
Equity Value Per Share 39.78