Discounted Cash Flow (DCF) Analysis Levered
SLM Corporation (SLM)
$18.05
-0.02 (-0.11%)
All numbers are in Millions, Currency in USD
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 | 1,126.32 | 1,361.17 | 1,672.24 | 1,811.44 | 2,030 | 2,355.28 | 2,732.67 | 3,170.54 | 3,678.58 | 4,268.01 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | -166.91 | -102.74 | -15.64 | -182.67 | -49.52 | -168.76 | -195.80 | -227.18 | -263.58 | -305.81 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | - | - | - | - | - | -168.76 | -195.80 | -227.18 | -263.58 | -305.81 |
Weighted Average Cost Of Capital
Share price | $ 18.05 |
---|---|
Beta | 1.235 |
Diluted Shares Outstanding | 387.19 |
Cost of Debt | |
Tax Rate | 24.65 |
After-tax Cost of Debt | 4.85% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 8.588 |
Total Debt | 5,930.99 |
Total Equity | 6,988.87 |
Total Capital | 12,919.86 |
Debt Weighting | 45.91 |
Equity Weighting | 54.09 |
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 | 1,126.32 | 1,361.17 | 1,672.24 | 1,811.44 | 2,030 | 2,355.28 | 2,732.67 | 3,170.54 | 3,678.58 | 4,268.01 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | -166.91 | -102.74 | -15.64 | -182.67 | -49.52 | -168.76 | -195.80 | -227.18 | -263.58 | -305.81 |
Capital Expenditure | - | - | - | - | - | - | - | - | - | - |
Free Cash Flow | - | - | - | - | - | -168.76 | -195.80 | -227.18 | -263.58 | -305.81 |
WACC | ||||||||||
PV LFCF | -157.91 | -171.44 | -186.12 | -202.06 | -219.37 | |||||
SUM PV LFCF | -936.91 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 6.87 |
Free cash flow (t + 1) | -311.93 |
Terminal Value | -6,405.13 |
Present Value of Terminal Value | -4,594.62 |
Intrinsic Value
Enterprise Value | -5,531.52 |
---|---|
Net Debt | 1,596.39 |
Equity Value | -7,127.91 |
Shares Outstanding | 387.19 |
Equity Value Per Share | -18.41 |