Discounted Cash Flow (DCF) Analysis Levered

Seacoast Banking Corporation of Flo... (SBCF)

$33.08

+1.57 (+4.98%)
All numbers are in Millions, Currency in USD
Stock DCF: 52.68 | 33.08 | 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 235.48261.54300.35324.31346.75382.13421.11464.06511.41563.57
Revenue (%)
Operating Cash Flow 48.91129.61117.7560.65154.57132.07145.54160.39176.75194.78
Operating Cash Flow (%)
Capital Expenditure -5.71-4.02-2.52-1.59-4.33-5-5.51-6.07-6.69-7.37
Capital Expenditure (%)
Free Cash Flow 43.20125.59115.2259.06150.25127.07140.03154.32170.06187.41

Weighted Average Cost Of Capital

Share price $ 33.08
Beta 1.113
Diluted Shares Outstanding 59.02
Cost of Debt
Tax Rate 21.63
After-tax Cost of Debt 8.99%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.797
Total Debt 71.65
Total Equity 1,952.25
Total Capital 2,023.90
Debt Weighting 3.54
Equity Weighting 96.46
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 235.48261.54300.35324.31346.75382.13421.11464.06511.41563.57
Operating Cash Flow 48.91129.61117.7560.65154.57132.07145.54160.39176.75194.78
Capital Expenditure -5.71-4.02-2.52-1.59-4.33-5-5.51-6.07-6.69-7.37
Free Cash Flow 43.20125.59115.2259.06150.25127.07140.03154.32170.06187.41
WACC
PV LFCF 76.6177.5978.5979.6180.63
SUM PV LFCF 599.20

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.80
Free cash flow (t + 1) 191.16
Terminal Value 2,811.15
Present Value of Terminal Value 1,843.91

Intrinsic Value

Enterprise Value 2,443.12
Net Debt -666.08
Equity Value 3,109.20
Shares Outstanding 59.02
Equity Value Per Share 52.68