Discounted Cash Flow (DCF) Analysis Unlevered
Bank7 Corp. (BSVN)
$24.37
-0.58 (-2.32%)
All numbers are in Millions, Currency in USD
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 | 39.57 | 40.96 | 43.50 | 48.83 | 5.68 | 4.74 | 3.95 | 3.30 | 2.75 | 2.29 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
EBITDA | 29.62 | 34.06 | 25.43 | 33.13 | 1.03 | 2.87 | 2.39 | 1.99 | 1.66 | 1.39 |
EBITDA (%) | ||||||||||
EBIT | 28.53 | 32.97 | 24.58 | 32.04 | - | 2.60 | 2.17 | 1.81 | 1.51 | 1.26 |
EBIT (%) | ||||||||||
Depreciation | 1.09 | 1.10 | 0.85 | 1.09 | 1.03 | 0.26 | 0.22 | 0.18 | 0.15 | 0.13 |
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 | 130.22 | 159.85 | 147.28 | 170.31 | 280.17 | 60.07 | 50.10 | 41.78 | 34.85 | 29.07 |
---|---|---|---|---|---|---|---|---|---|---|
Total Cash (%) | ||||||||||
Account Receivables | 4.69 | 7.16 | 6.11 | 7.15 | 10.52 | 2.31 | 1.92 | 1.60 | 1.34 | 1.12 |
Account Receivables (%) | ||||||||||
Inventories | - | - | - | - | - | - | - | - | - | - |
Inventories (%) | ||||||||||
Accounts Payable | 2.99 | 4.23 | 8.43 | 3.83 | 0.64 | 0.53 | 0.45 | 0.37 | 0.31 | 0.26 |
Accounts Payable (%) | ||||||||||
Capital Expenditure | -3.97 | -0.38 | -3.10 | -0.44 | -0.27 | -0.22 | -0.19 | -0.16 | -0.13 | -0.11 |
Capital Expenditure (%) |
Weighted Average Cost Of Capital
Share price | $ 24.37 |
---|---|
Beta | 1.820 |
Diluted Shares Outstanding | 9.38 |
Cost of Debt | |
Tax Rate | 18.52 |
After-tax Cost of Debt | 0.33% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 11.429 |
Total Debt | 84.81 |
Total Equity | 228.57 |
Total Capital | 313.38 |
Debt Weighting | 27.06 |
Equity Weighting | 72.94 |
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 | 39.57 | 40.96 | 43.50 | 48.83 | 5.68 | 4.74 | 3.95 | 3.30 | 2.75 | 2.29 |
---|---|---|---|---|---|---|---|---|---|---|
EBITDA | 29.62 | 34.06 | 25.43 | 33.13 | 1.03 | 2.87 | 2.39 | 1.99 | 1.66 | 1.39 |
EBIT | 28.53 | 32.97 | 24.58 | 32.04 | - | 2.60 | 2.17 | 1.81 | 1.51 | 1.26 |
Tax Rate | 0.00% | 3.09% | 45.42% | 25.57% | 18.52% | 18.52% | 18.52% | 18.52% | 18.52% | 18.52% |
EBIAT | 28.53 | 31.95 | 13.42 | 23.85 | - | 2.12 | 1.77 | 1.48 | 1.23 | 1.03 |
Depreciation | 1.09 | 1.10 | 0.85 | 1.09 | 1.03 | 0.26 | 0.22 | 0.18 | 0.15 | 0.13 |
Accounts Receivable | - | -2.47 | 1.04 | -1.04 | -3.37 | 8.22 | 0.38 | 0.32 | 0.27 | 0.22 |
Inventories | - | - | - | - | - | - | - | - | - | - |
Accounts Payable | - | 1.24 | 4.20 | -4.60 | -3.19 | -0.11 | -0.09 | -0.07 | -0.06 | -0.05 |
Capital Expenditure | -3.97 | -0.38 | -3.10 | -0.44 | -0.27 | -0.22 | -0.19 | -0.16 | -0.13 | -0.11 |
UFCF | 25.65 | 31.43 | 16.41 | 18.86 | -5.80 | 10.27 | 2.10 | 1.75 | 1.46 | 1.22 |
WACC | ||||||||||
PV UFCF | 9.47 | 1.78 | 1.37 | 1.05 | 0.81 | |||||
SUM PV UFCF | 14.49 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 8.43 |
Free cash flow (t + 1) | 1.24 |
Terminal Value | 19.29 |
Present Value of Terminal Value | 12.87 |
Intrinsic Value
Enterprise Value | 27.36 |
---|---|
Net Debt | -110.55 |
Equity Value | 137.91 |
Shares Outstanding | 9.38 |
Equity Value Per Share | 14.70 |