Discounted Cash Flow (DCF) Analysis Levered
PCB Bancorp (PCB)
$14.09
+0.11 (+0.79%)
All numbers are in Millions, Currency in USD
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 | 80.90 | 77.93 | 95.57 | 104.13 | 113.82 | 124.41 | 135.99 | 148.65 | 162.48 | 177.60 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 30.12 | 17.09 | -1.62 | 57.27 | 32 | 34.98 | 38.24 | 41.79 | 45.68 | 49.94 |
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 | 29.41 | 15.31 | -2.05 | 51.81 | 29.48 | 32.23 | 35.23 | 38.50 | 42.09 | 46 |
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 | 80.90 | 77.93 | 95.57 | 104.13 | 113.82 | 124.41 | 135.99 | 148.65 | 162.48 | 177.60 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 30.12 | 17.09 | -1.62 | 57.27 | 32 | 34.98 | 38.24 | 41.79 | 45.68 | 49.94 |
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 | 29.41 | 15.31 | -2.05 | 51.81 | 29.48 | 32.23 | 35.23 | 38.50 | 42.09 | 46 |
WACC | ||||||||||
PV LFCF | 29.48 | 30.19 | 30.92 | 31.67 | 32.43 | 33.22 | ||||
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 |