Discounted Cash Flow (DCF) Analysis Levered

Rhinebeck Bancorp, Inc. (RBKB)

$8.53

-0.16 (-1.84%)
All numbers are in Millions, Currency in USD
Stock DCF: 19.04 | 8.53 | undervalue

Free Cash Flow

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 33.5937.8844.6746.8247.7752.2557.1662.5268.3974.80
Revenue (%)
Operating Cash Flow 8.618.9914.857.6514.8013.5814.8516.2417.7719.43
Operating Cash Flow (%)
Capital Expenditure -1.15-2.59-1.87-1.77-1.13-2.15-2.35-2.57-2.82-3.08
Capital Expenditure (%)
Free Cash Flow 7.466.4012.985.8813.6611.4212.5013.6714.9516.35

Weighted Average Cost Of Capital

Share price $ 8.53
Beta 0.745
Diluted Shares Outstanding 11
Cost of Debt
Tax Rate 21.35
After-tax Cost of Debt 8.45%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.801
Total Debt 62.88
Total Equity 93.87
Total Capital 156.75
Debt Weighting 40.11
Equity Weighting 59.89
Wacc

Build Up Free Cash Flow

Year
A/P
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Projected
2024
Projected
2025
Projected
2026
Projected
2027
Projected
Revenue 33.5937.8844.6746.8247.7752.2557.1662.5268.3974.80
Operating Cash Flow 8.618.9914.857.6514.8013.5814.8516.2417.7719.43
Capital Expenditure -1.15-2.59-1.87-1.77-1.13-2.15-2.35-2.57-2.82-3.08
Free Cash Flow 7.466.4012.985.8813.6611.4212.5013.6714.9516.35
WACC
PV LFCF 10.5710.7010.8310.9611.10
SUM PV LFCF 54.17

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.06
Free cash flow (t + 1) 16.68
Terminal Value 275.26
Present Value of Terminal Value 186.82

Intrinsic Value

Enterprise Value 240.99
Net Debt 31.49
Equity Value 209.49
Shares Outstanding 11
Equity Value Per Share 19.04