Discounted Cash Flow (DCF) Analysis Levered

United Bancshares, Inc. (UBOH)

$20.75

0.00 (0.00%)
All numbers are in Millions, Currency in USD
Stock DCF: 101.59 | 20.75 | undervalue

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 27.8036.0541.8257.2653.0863.0874.9589.07105.84125.77
Revenue (%)
Operating Cash Flow 5.865.153.6217.229.8311.6813.8816.5019.6123.30
Operating Cash Flow (%)
Capital Expenditure -4.18-0.52-0.75-1.58-2.79-3.32-3.95-4.69-5.57-6.62
Capital Expenditure (%)
Free Cash Flow 1.684.622.8715.647.048.369.9411.8114.0316.67

Weighted Average Cost Of Capital

Share price $ 20.75
Beta 0.563
Diluted Shares Outstanding 3.27
Cost of Debt
Tax Rate 15.51
After-tax Cost of Debt 4.22%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.412
Total Debt -
Total Equity 67.87
Total Capital 67.87
Debt Weighting 0.00
Equity Weighting 100.00
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 27.8036.0541.8257.2653.0863.0874.9589.07105.84125.77
Operating Cash Flow 5.865.153.6217.229.8311.6813.8816.5019.6123.30
Capital Expenditure -4.18-0.52-0.75-1.58-2.79-3.32-3.95-4.69-5.57-6.62
Free Cash Flow 1.684.622.8715.647.048.369.9411.8114.0316.67
WACC
PV LFCF 7.868.789.8010.9412.22
SUM PV LFCF 49.60

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.41
Free cash flow (t + 1) 17.01
Terminal Value 385.68
Present Value of Terminal Value 282.69

Intrinsic Value

Enterprise Value 332.29
Net Debt -0
Equity Value 332.29
Shares Outstanding 3.27
Equity Value Per Share 101.59