Discounted Cash Flow (DCF) Analysis Unlevered

Bogota Financial Corp. (BSBK)

$11.02

-0.02 (-0.18%)
All numbers are in Millions, Currency in USD
Stock DCF: -429.95 | 11.02 | overvalue

Operating Data

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 14.5213.8411.7114.7021.8224.7628.0931.8736.1641.03
Revenue (%)
EBITDA 13.4114.6015.5512.46-743.87-148.24-168.20-190.84-216.54-245.69
EBITDA (%)
EBIT 13.0614.2815.2512.1815.1923.5626.7330.3334.4139.04
EBIT (%)
Depreciation 0.350.310.300.27-759.05-171.80-194.93-221.17-250.95-284.73
Depreciation (%)

Balance Sheet Data

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Total Cash 34.3638.12141.6192.26146.91149.62169.76192.61218.54247.97
Total Cash (%)
Account Receivables 1.731.952.022.862.713.724.224.785.436.16
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable ----------
Accounts Payable (%)
Capital Expenditure -0.13-0.52-0.16-1.75-0.98-1.11-1.26-1.43-1.62-1.84
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 11.02
Beta 0.693
Diluted Shares Outstanding 12.17
Cost of Debt
Tax Rate 19.96
After-tax Cost of Debt 5.45%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.967
Total Debt 85.05
Total Equity 134.12
Total Capital 219.17
Debt Weighting 38.81
Equity Weighting 61.19
Wacc

Build Up Free Cash

Year
A/P
2017
Actual
2018
Actual
2019
Actual
2020
Actual
2021
Actual
2022
Projected
2023
Projected
2024
Projected
2025
Projected
2026
Projected
Revenue 14.5213.8411.7114.7021.8224.7628.0931.8736.1641.03
EBITDA 13.4114.6015.5512.46-743.87-148.24-168.20-190.84-216.54-245.69
EBIT 13.0614.2815.2512.1815.1923.5626.7330.3334.4139.04
Tax Rate 40.26%25.16%25.94%17.45%19.96%25.76%25.76%25.76%25.76%25.76%
EBIAT 7.8010.6911.2910.0612.1517.4919.8422.5225.5528.99
Depreciation 0.350.310.300.27-759.05-171.80-194.93-221.17-250.95-284.73
Accounts Receivable --0.22-0.07-0.830.14-1-0.50-0.57-0.64-0.73
Inventories ----------
Accounts Payable ----------
Capital Expenditure -0.13-0.52-0.16-1.75-0.98-1.11-1.26-1.43-1.62-1.84
UFCF 8.0210.2611.367.75-747.73-156.42-176.84-200.65-227.66-258.31
WACC
PV UFCF -147.04-156.27-166.67-177.77-189.60
SUM PV UFCF -837.35

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.38
Free cash flow (t + 1) -263.48
Terminal Value -6,015.45
Present Value of Terminal Value -4,415.38

Intrinsic Value

Enterprise Value -5,252.73
Net Debt -20.02
Equity Value -5,232.71
Shares Outstanding 12.17
Equity Value Per Share -429.95