Discounted Cash Flow (DCF) Analysis Levered

Village Bank and Trust Financial Co... (VBFC)

$48.15

+0.98 (+2.08%)
All numbers are in Millions, Currency in USD
Stock DCF: 217.16 | 48.15 | 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 21.1623.3526.0733.6437.8443.8550.8158.8868.2479.07
Revenue (%)
Operating Cash Flow 7.837.090.15-7.1442.5313.9516.1718.7421.7225.17
Operating Cash Flow (%)
Capital Expenditure -0.97-0.20-0.23-0.33-0.69-0.79-0.92-1.07-1.24-1.43
Capital Expenditure (%)
Free Cash Flow 6.876.89-0.08-7.4741.8513.1615.2517.6720.4823.73

Weighted Average Cost Of Capital

Share price $ 48.15
Beta 0.640
Diluted Shares Outstanding 1.46
Cost of Debt
Tax Rate 21.55
After-tax Cost of Debt 30.10%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.901
Total Debt 5.66
Total Equity 70.29
Total Capital 75.95
Debt Weighting 7.45
Equity Weighting 92.55
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 21.1623.3526.0733.6437.8443.8550.8158.8868.2479.07
Operating Cash Flow 7.837.090.15-7.1442.5313.9516.1718.7421.7225.17
Capital Expenditure -0.97-0.20-0.23-0.33-0.69-0.79-0.92-1.07-1.24-1.43
Free Cash Flow 6.876.89-0.08-7.4741.8513.1615.2517.6720.4823.73
WACC
PV LFCF 12.1112.9213.7914.7115.69
SUM PV LFCF 69.22

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.63
Free cash flow (t + 1) 24.21
Terminal Value 365.11
Present Value of Terminal Value 241.37

Intrinsic Value

Enterprise Value 310.59
Net Debt -6.41
Equity Value 317
Shares Outstanding 1.46
Equity Value Per Share 217.16