Discounted Cash Flow (DCF) Analysis Levered
WesBanco, Inc. (WSBC)
$36.05
+0.16 (+0.45%)
All numbers are in Millions, Currency in USD
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 | 374.63 | 441.79 | 509.69 | 599.30 | 590.72 | 663.74 | 745.79 | 837.98 | 941.57 | 1,057.97 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 141.63 | 191.56 | 163.36 | 59.61 | 336.30 | 239.07 | 268.62 | 301.83 | 339.14 | 381.06 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -6.03 | -4.67 | -12.20 | -7.55 | -9.34 | -10.49 | -11.79 | -13.24 | -14.88 | -16.72 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 135.59 | 186.89 | 151.16 | 52.06 | 326.96 | 228.58 | 256.83 | 288.58 | 324.26 | 364.34 |
Weighted Average Cost Of Capital
Share price | $ 36.05 |
---|---|
Beta | 0.943 |
Diluted Shares Outstanding | 67.31 |
Cost of Debt | |
Tax Rate | 19.74 |
After-tax Cost of Debt | 4.73% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 7.970 |
Total Debt | 458.67 |
Total Equity | 2,426.55 |
Total Capital | 2,885.22 |
Debt Weighting | 15.90 |
Equity Weighting | 84.10 |
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 | 374.63 | 441.79 | 509.69 | 599.30 | 590.72 | 663.74 | 745.79 | 837.98 | 941.57 | 1,057.97 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 141.63 | 191.56 | 163.36 | 59.61 | 336.30 | 239.07 | 268.62 | 301.83 | 339.14 | 381.06 |
Capital Expenditure | -6.03 | -4.67 | -12.20 | -7.55 | -9.34 | -10.49 | -11.79 | -13.24 | -14.88 | -16.72 |
Free Cash Flow | 135.59 | 186.89 | 151.16 | 52.06 | 326.96 | 228.58 | 256.83 | 288.58 | 324.26 | 364.34 |
WACC | ||||||||||
PV LFCF | 212.73 | 222.45 | 232.62 | 243.26 | 254.38 | |||||
SUM PV LFCF | 1,165.44 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 7.45 |
Free cash flow (t + 1) | 371.63 |
Terminal Value | 6,818.89 |
Present Value of Terminal Value | 4,760.82 |
Intrinsic Value
Enterprise Value | 5,926.26 |
---|---|
Net Debt | -792.68 |
Equity Value | 6,718.94 |
Shares Outstanding | 67.31 |
Equity Value Per Share | 99.82 |