Discounted Cash Flow (DCF) Analysis Levered

Seacoast Banking Corporation of Flo... (SBCF)

$24.14

+0.55 (+2.33%)
All numbers are in Millions, Currency in USD
Stock DCF: 117.13 | 24.14 | 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 300.35324.31346.75432.25767.14991.591,281.701,656.702,141.412,767.93
Revenue (%)
Operating Cash Flow 117.7560.65154.57195.8657.45307.95398.05514.51665.04859.62
Operating Cash Flow (%)
Capital Expenditure -2.52-1.59-4.33-12.64-10.55-13.64-17.63-22.79-29.46-38.08
Capital Expenditure (%)
Free Cash Flow 115.2259.06150.24183.2146.90294.31380.42491.72635.58821.54

Weighted Average Cost Of Capital

Share price $ 24.14
Beta 1.183
Diluted Shares Outstanding 84.33
Cost of Debt
Tax Rate 22.51
After-tax Cost of Debt 3.30%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.846
Total Debt 530.88
Total Equity 2,035.70
Total Capital 2,566.58
Debt Weighting 20.68
Equity Weighting 79.32
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 300.35324.31346.75432.25767.14991.591,281.701,656.702,141.412,767.93
Operating Cash Flow 117.7560.65154.57195.8657.45307.95398.05514.51665.04859.62
Capital Expenditure -2.52-1.59-4.33-12.64-10.55-13.64-17.63-22.79-29.46-38.08
Free Cash Flow 115.2259.06150.24183.2146.90294.31380.42491.72635.58821.54
WACC
PV LFCF 271.28323.21385.08458.79546.61
SUM PV LFCF 1,984.97

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.49
Free cash flow (t + 1) 837.97
Terminal Value 12,911.74
Present Value of Terminal Value 8,590.85

Intrinsic Value

Enterprise Value 10,575.82
Net Debt 698.39
Equity Value 9,877.43
Shares Outstanding 84.33
Equity Value Per Share 117.13