Discounted Cash Flow (DCF) Analysis Levered

Pacific Premier Bancorp, Inc. (PPBI)

$22.99

+0.13 (+0.57%)
All numbers are in Millions, Currency in USD
Stock DCF: 54.10 | 22.99 | undervalue

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 463.19622.31750.10762.60887.991,050.031,241.651,468.241,736.172,053.01
Revenue (%)
Operating Cash Flow 182.69212.30320.21411.03250.28416.51492.51582.39688.67814.34
Operating Cash Flow (%)
Capital Expenditure -18.83-11.41-9.29-7.48-6.61-18.61-22.01-26.02-30.77-36.39
Capital Expenditure (%)
Free Cash Flow 163.86200.89310.92403.56243.67397.89470.50556.37657.90777.96

Weighted Average Cost Of Capital

Share price $ 22.99
Beta 1.209
Diluted Shares Outstanding 94.24
Cost of Debt
Tax Rate 9.37
After-tax Cost of Debt 24.34%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.865
Total Debt 978.96
Total Equity 2,166.51
Total Capital 3,145.46
Debt Weighting 31.12
Equity Weighting 68.88
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 463.19622.31750.10762.60887.991,050.031,241.651,468.241,736.172,053.01
Operating Cash Flow 182.69212.30320.21411.03250.28416.51492.51582.39688.67814.34
Capital Expenditure -18.83-11.41-9.29-7.48-6.61-18.61-22.01-26.02-30.77-36.39
Free Cash Flow 163.86200.89310.92403.56243.67397.89470.50556.37657.90777.96
WACC
PV LFCF 347.90359.70371.90384.51397.55
SUM PV LFCF 1,861.56

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 14.37
Free cash flow (t + 1) 793.51
Terminal Value 6,414.83
Present Value of Terminal Value 3,278.12

Intrinsic Value

Enterprise Value 5,139.68
Net Debt 41.49
Equity Value 5,098.19
Shares Outstanding 94.24
Equity Value Per Share 54.10