Discounted Cash Flow (DCF) Analysis Levered

Triumph Financial, Inc. (TBKCP)

$25.2

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: 55.13 | 25.2 | 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 287.47335.36423.63484.56417.51462.94513.31569.16631.09699.76
Revenue (%)
Operating Cash Flow 72.4597.33136.9674.4943.20103.95115.26127.80141.71157.13
Operating Cash Flow (%)
Capital Expenditure -21.34-17.57-14.36-10.91-26.96-22.93-25.42-28.19-31.26-34.66
Capital Expenditure (%)
Free Cash Flow 51.1179.75122.6063.5716.2481.0289.8499.62110.45122.47

Weighted Average Cost Of Capital

Share price $ 25.2
Beta 1.132
Diluted Shares Outstanding 23.56
Cost of Debt
Tax Rate 28.29
After-tax Cost of Debt 9.61%
Risk-Free Rate
Market Risk Premium
Cost of Equity 9.594
Total Debt 405.42
Total Equity 593.77
Total Capital 999.19
Debt Weighting 40.57
Equity Weighting 59.43
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 287.47335.36423.63484.56417.51462.94513.31569.16631.09699.76
Operating Cash Flow 72.4597.33136.9674.4943.20103.95115.26127.80141.71157.13
Capital Expenditure -21.34-17.57-14.36-10.91-26.96-22.93-25.42-28.19-31.26-34.66
Free Cash Flow 51.1179.75122.6063.5716.2481.0289.8499.62110.45122.47
WACC
PV LFCF 73.9374.7975.6676.5577.44
SUM PV LFCF 378.38

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 9.60
Free cash flow (t + 1) 124.92
Terminal Value 1,643.72
Present Value of Terminal Value 1,039.38

Intrinsic Value

Enterprise Value 1,417.76
Net Debt 118.78
Equity Value 1,298.97
Shares Outstanding 23.56
Equity Value Per Share 55.13