Discounted Cash Flow (DCF) Analysis Levered

Peapack-Gladstone Financial Corpora... (PGC)

$35.14

-0.28 (-0.79%)
All numbers are in Millions, Currency in USD
Stock DCF: 79.09 | 35.14 | 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 143.35156.70174.97189.36210.30231.47254.76280.40308.63339.69
Revenue (%)
Operating Cash Flow 55.9364.2586.3036.7278.2086.0794.73104.26114.76126.31
Operating Cash Flow (%)
Capital Expenditure -2.38-1.06-1.71-3.08-2.59-2.86-3.14-3.46-3.81-4.19
Capital Expenditure (%)
Free Cash Flow 53.5563.1984.5933.6475.6083.2191.59100.80110.95122.11

Weighted Average Cost Of Capital

Share price $ 35.14
Beta 1.092
Diluted Shares Outstanding 19.29
Cost of Debt
Tax Rate 27.09
After-tax Cost of Debt 10.80%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.700
Total Debt 148.63
Total Equity 677.94
Total Capital 826.57
Debt Weighting 17.98
Equity Weighting 82.02
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 143.35156.70174.97189.36210.30231.47254.76280.40308.63339.69
Operating Cash Flow 55.9364.2586.3036.7278.2086.0794.73104.26114.76126.31
Capital Expenditure -2.38-1.06-1.71-3.08-2.59-2.86-3.14-3.46-3.81-4.19
Free Cash Flow 53.5563.1984.5933.6475.6083.2191.59100.80110.95122.11
WACC
PV LFCF 64.1164.6965.2865.8666.46
SUM PV LFCF 388.37

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 9.08
Free cash flow (t + 1) 124.56
Terminal Value 1,759.28
Present Value of Terminal Value 1,139.22

Intrinsic Value

Enterprise Value 1,527.59
Net Debt 1.83
Equity Value 1,525.77
Shares Outstanding 19.29
Equity Value Per Share 79.09