Discounted Cash Flow (DCF) Analysis Levered
Wintrust Financial Corporation (WTFCM)
$22.16
-0.10 (-0.43%)
All numbers are in Millions, Currency in USD
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 | 1,316.79 | 1,459.17 | 1,641 | 1,707.58 | 1,956 | 2,160.80 | 2,387.03 | 2,636.95 | 2,913.03 | 3,218.03 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 377.18 | 265.99 | -518.46 | 1,130.87 | 1,375 | 656.02 | 724.71 | 800.59 | 884.41 | 977 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -68.27 | -82.02 | -63.65 | -57.08 | -53.45 | -89.71 | -99.11 | -109.48 | -120.95 | -133.61 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 308.91 | 183.97 | -582.11 | 1,073.80 | 1,321.55 | 566.31 | 625.60 | 691.10 | 763.46 | 843.39 |
Weighted Average Cost Of Capital
| Share price | $ 22.16 |
|---|---|
| Beta | 1.221 |
| Diluted Shares Outstanding | 57.79 |
| Cost of Debt | |
| Tax Rate | 27.25 |
| After-tax Cost of Debt | 4.71% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 10.018 |
| Total Debt | 3,893.64 |
| Total Equity | 1,280.54 |
| Total Capital | 5,174.18 |
| Debt Weighting | 75.25 |
| Equity Weighting | 24.75 |
| 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 | 1,316.79 | 1,459.17 | 1,641 | 1,707.58 | 1,956 | 2,160.80 | 2,387.03 | 2,636.95 | 2,913.03 | 3,218.03 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 377.18 | 265.99 | -518.46 | 1,130.87 | 1,375 | 656.02 | 724.71 | 800.59 | 884.41 | 977 |
| Capital Expenditure | -68.27 | -82.02 | -63.65 | -57.08 | -53.45 | -89.71 | -99.11 | -109.48 | -120.95 | -133.61 |
| Free Cash Flow | 308.91 | 183.97 | -582.11 | 1,073.80 | 1,321.55 | 566.31 | 625.60 | 691.10 | 763.46 | 843.39 |
| WACC | ||||||||||
| PV LFCF | 534.15 | 556.57 | 579.94 | 604.28 | 629.64 | |||||
| SUM PV LFCF | 2,904.58 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 6.02 |
| Free cash flow (t + 1) | 860.26 |
| Terminal Value | 21,399.55 |
| Present Value of Terminal Value | 15,975.91 |
Intrinsic Value
| Enterprise Value | 18,880.49 |
|---|---|
| Net Debt | 1,414.02 |
| Equity Value | 17,466.48 |
| Shares Outstanding | 57.79 |
| Equity Value Per Share | 302.26 |