Discounted Cash Flow (DCF) Analysis Levered

Pacific Premier Bancorp, Inc. (PPBI)

$30.86

-0.69 (-2.19%)
All numbers are in Millions, Currency in USD
Stock DCF: 198.73 | 30.86 | 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 269.08410.45463.19622.31750.10975.651,269.021,650.612,146.942,792.51
Revenue (%)
Operating Cash Flow 84298.69182.69212.30332.94433.05563.27732.64952.941,239.48
Operating Cash Flow (%)
Capital Expenditure -4.16-10.29-18.83-11.41-18.67-24.28-31.58-41.08-53.43-69.50
Capital Expenditure (%)
Free Cash Flow 79.83288.39163.86200.89314.27408.77531.69691.56899.511,169.98

Weighted Average Cost Of Capital

Share price $ 30.86
Beta 1.191
Diluted Shares Outstanding 93.91
Cost of Debt
Tax Rate 26.24
After-tax Cost of Debt 2.85%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.497
Total Debt 888.57
Total Equity 2,897.95
Total Capital 3,786.52
Debt Weighting 23.47
Equity Weighting 76.53
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 269.08410.45463.19622.31750.10975.651,269.021,650.612,146.942,792.51
Operating Cash Flow 84298.69182.69212.30332.94433.05563.27732.64952.941,239.48
Capital Expenditure -4.16-10.29-18.83-11.41-18.67-24.28-31.58-41.08-53.43-69.50
Free Cash Flow 79.83288.39163.86200.89314.27408.77531.69691.56899.511,169.98
WACC
PV LFCF 381.42462.92561.84681.89827.59
SUM PV LFCF 2,915.65

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.17
Free cash flow (t + 1) 1,193.38
Terminal Value 23,082.82
Present Value of Terminal Value 16,327.62

Intrinsic Value

Enterprise Value 19,243.27
Net Debt 581.65
Equity Value 18,661.62
Shares Outstanding 93.91
Equity Value Per Share 198.73