Discounted Cash Flow (DCF) Analysis Levered
Silvergate Capital Corporation (SI)
$1.25
0.00 (0.00%)
All numbers are in Millions, Currency in USD
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 | 75.60 | 79.60 | 88.76 | 170.89 | 327.31 | 491.67 | 738.57 | 1,109.44 | 1,666.55 | 2,503.41 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | -3.07 | -126.86 | -479.31 | 79.76 | -537.44 | -807.32 | -1,212.71 | -1,821.68 | -2,736.43 | -4,110.54 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -2.66 | -1.21 | -0.92 | -3.46 | -6.63 | -9.96 | -14.97 | -22.48 | -33.77 | -50.73 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | -5.73 | -128.07 | -480.23 | 76.29 | -544.07 | -817.28 | -1,227.68 | -1,844.16 | -2,770.21 | -4,161.27 |
Weighted Average Cost Of Capital
| Share price | $ 1.25 |
|---|---|
| Beta | 2.234 |
| Diluted Shares Outstanding | 31.55 |
| Cost of Debt | |
| Tax Rate | -1.88 |
| After-tax Cost of Debt | 1.67% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 14.245 |
| Total Debt | 4,300 |
| Total Equity | 39.43 |
| Total Capital | 4,339.43 |
| Debt Weighting | 99.09 |
| Equity Weighting | 0.91 |
| 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 | 75.60 | 79.60 | 88.76 | 170.89 | 327.31 | 491.67 | 738.57 | 1,109.44 | 1,666.55 | 2,503.41 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -3.07 | -126.86 | -479.31 | 79.76 | -537.44 | -807.32 | -1,212.71 | -1,821.68 | -2,736.43 | -4,110.54 |
| Capital Expenditure | -2.66 | -1.21 | -0.92 | -3.46 | -6.63 | -9.96 | -14.97 | -22.48 | -33.77 | -50.73 |
| Free Cash Flow | -5.73 | -128.07 | -480.23 | 76.29 | -544.07 | -817.28 | -1,227.68 | -1,844.16 | -2,770.21 | -4,161.27 |
| WACC | ||||||||||
| PV LFCF | -802.99 | -1,185.11 | -1,749.09 | -2,581.44 | -3,809.90 | |||||
| SUM PV LFCF | -10,128.53 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 1.78 |
| Free cash flow (t + 1) | -4,244.50 |
| Terminal Value | 1,929,316.23 |
| Present Value of Terminal Value | 1,766,408.66 |
Intrinsic Value
| Enterprise Value | 1,756,280.13 |
|---|---|
| Net Debt | 3,744.42 |
| Equity Value | 1,752,535.71 |
| Shares Outstanding | 31.55 |
| Equity Value Per Share | 55,556.69 |