Discounted Cash Flow (DCF) Analysis Levered

PCB Bancorp (PCB)

$14.09

+0.11 (+0.79%)
All numbers are in Millions, Currency in USD
Stock DCF: 70.30 | 14.09 | undervalue

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 80.9077.9395.57104.13113.82124.41135.99148.65162.48177.60
Revenue (%)
Operating Cash Flow 30.1217.09-1.6257.273234.9838.2441.7945.6849.94
Operating Cash Flow (%)
Capital Expenditure -0.71-1.78-0.43-5.45-2.52-2.75-3.01-3.29-3.60-3.93
Capital Expenditure (%)
Free Cash Flow 29.4115.31-2.0551.8129.4832.2335.2338.5042.0946

Weighted Average Cost Of Capital

Share price $ 14.09
Beta 0.674
Diluted Shares Outstanding 15.07
Cost of Debt
Tax Rate 29.18
After-tax Cost of Debt 3.54%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.819
Total Debt 6.24
Total Equity 212.27
Total Capital 218.51
Debt Weighting 2.85
Equity Weighting 97.15
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 80.9077.9395.57104.13113.82124.41135.99148.65162.48177.60
Operating Cash Flow 30.1217.09-1.6257.273234.9838.2441.7945.6849.94
Capital Expenditure -0.71-1.78-0.43-5.45-2.52-2.75-3.01-3.29-3.60-3.93
Free Cash Flow 29.4115.31-2.0551.8129.4832.2335.2338.5042.0946
WACC
PV LFCF 29.4830.1930.9231.6732.4333.22
SUM PV LFCF 158.44

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.73
Free cash flow (t + 1) 46.92
Terminal Value 992.06
Present Value of Terminal Value 716.32

Intrinsic Value

Enterprise Value 874.76
Net Debt -184.28
Equity Value 1,059.04
Shares Outstanding 15.07
Equity Value Per Share 70.30