Discounted Cash Flow (DCF) Analysis Levered

UMB Financial Corporation (UMBF)

$76.27

+0.40 (+0.53%)
Financial Summary
Financial Statements
Quarter Financials
Chart
Financial Ratios
Profile
Historical Data
DCFDCF Levered
All numbers are in Millions, Currency in USD
Stock DCF: 47.56 | 76.27 | overvalue

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 947.651,027.731,218.231,195.99221.92190.69163.86140.80120.99103.96
Revenue (%)
Operating Cash Flow 297.10341.42373.60534.08769.55185.61159.49137.05117.76101.19
Operating Cash Flow (%)
Capital Expenditure -57.94-72.31-60.22-33.69-51.72-16.86-14.49-12.45-10.70-9.19
Capital Expenditure (%)
Free Cash Flow 239.16269.11313.38500.40717.84168.74145124.60107.0692

Weighted Average Cost Of Capital

Share price $ 76.27
Beta 0.834
Diluted Shares Outstanding 48.75
Cost of Debt
Tax Rate 18.86
After-tax Cost of Debt 47.61%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.191
Total Debt 381.31
Total Equity 3,717.96
Total Capital 4,099.28
Debt Weighting 9.30
Equity Weighting 90.70
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 947.651,027.731,218.231,195.99221.92190.69163.86140.80120.99103.96
Operating Cash Flow 297.10341.42373.60534.08769.55185.61159.49137.05117.76101.19
Capital Expenditure -57.94-72.31-60.22-33.69-51.72-16.86-14.49-12.45-10.70-9.19
Free Cash Flow 239.16269.11313.38500.40717.84168.74145124.60107.0692
WACC
PV LFCF 150.85115.8889.0268.3852.53
SUM PV LFCF 476.67

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 11.86
Free cash flow (t + 1) 93.84
Terminal Value 951.72
Present Value of Terminal Value 543.42

Intrinsic Value

Enterprise Value 1,020.09
Net Debt -1,298.48
Equity Value 2,318.56
Shares Outstanding 48.75
Equity Value Per Share 47.56