Discounted Cash Flow (DCF) Analysis Levered
SouthState Corporation (SSB)
$67.5
-0.46 (-0.68%)
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 | 657.18 | 647.84 | 1,137.60 | 1,387.43 | 1,644.92 | 2,116.59 | 2,723.51 | 3,504.45 | 4,509.33 | 5,802.35 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 283.71 | 181.03 | 536.94 | 537.26 | 1,730.89 | 1,110.21 | 1,428.56 | 1,838.18 | 2,365.27 | 3,043.50 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -14.54 | -15.80 | -16.93 | -28.42 | -17.67 | -39.21 | -50.45 | -64.91 | -83.53 | -107.48 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 269.17 | 165.23 | 520.01 | 508.85 | 1,713.22 | 1,071 | 1,378.11 | 1,773.27 | 2,281.75 | 2,936.02 |
Weighted Average Cost Of Capital
| Share price | $ 67.5 |
|---|---|
| Beta | 0.819 |
| Diluted Shares Outstanding | 75.18 |
| Cost of Debt | |
| Tax Rate | 21.68 |
| After-tax Cost of Debt | 12.25% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 8.305 |
| Total Debt | 392.27 |
| Total Equity | 5,074.72 |
| Total Capital | 5,466.99 |
| Debt Weighting | 7.18 |
| Equity Weighting | 92.82 |
| 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 | 657.18 | 647.84 | 1,137.60 | 1,387.43 | 1,644.92 | 2,116.59 | 2,723.51 | 3,504.45 | 4,509.33 | 5,802.35 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 283.71 | 181.03 | 536.94 | 537.26 | 1,730.89 | 1,110.21 | 1,428.56 | 1,838.18 | 2,365.27 | 3,043.50 |
| Capital Expenditure | -14.54 | -15.80 | -16.93 | -28.42 | -17.67 | -39.21 | -50.45 | -64.91 | -83.53 | -107.48 |
| Free Cash Flow | 269.17 | 165.23 | 520.01 | 508.85 | 1,713.22 | 1,071 | 1,378.11 | 1,773.27 | 2,281.75 | 2,936.02 |
| WACC | ||||||||||
| PV LFCF | 986.28 | 1,168.70 | 1,384.86 | 1,641 | 1,944.51 | |||||
| SUM PV LFCF | 7,125.35 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 8.59 |
| Free cash flow (t + 1) | 2,994.74 |
| Terminal Value | 45,443.74 |
| Present Value of Terminal Value | 30,097.12 |
Intrinsic Value
| Enterprise Value | 37,222.47 |
|---|---|
| Net Debt | -156.11 |
| Equity Value | 37,378.58 |
| Shares Outstanding | 75.18 |
| Equity Value Per Share | 497.18 |