Discounted Cash Flow (DCF) Analysis Unlevered

Bank7 Corp. (BSVN)

$22.18

-0.17 (-0.76%)
All numbers are in Millions, Currency in USD
Stock DCF: 14.68 | 22.18 | 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 39.5740.9643.5048.835.684.743.953.302.752.29
Revenue (%)
EBITDA 29.6234.0625.4333.131.032.872.391.991.661.39
EBITDA (%)
EBIT 28.5332.9724.5832.04-2.602.171.811.511.26
EBIT (%)
Depreciation 1.091.100.851.091.030.260.220.180.150.13
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 130.22159.85147.28170.31280.1760.0750.1041.7834.8529.07
Total Cash (%)
Account Receivables 4.697.166.117.1510.522.311.921.601.341.12
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 2.994.238.433.830.640.530.450.370.310.26
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 $ 22.18
Beta 1.699
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 11.825
Total Debt 84.81
Total Equity 208.03
Total Capital 292.84
Debt Weighting 28.96
Equity Weighting 71.04
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 39.5740.9643.5048.835.684.743.953.302.752.29
EBITDA 29.6234.0625.4333.131.032.872.391.991.661.39
EBIT 28.5332.9724.5832.04-2.602.171.811.511.26
Tax Rate 0.00%3.09%45.42%25.57%18.52%18.52%18.52%18.52%18.52%18.52%
EBIAT 28.5331.9513.4223.85-2.121.771.481.231.03
Depreciation 1.091.100.851.091.030.260.220.180.150.13
Accounts Receivable --2.471.04-1.04-3.378.220.380.320.270.22
Inventories ----------
Accounts Payable -1.244.20-4.60-3.19-0.11-0.09-0.07-0.06-0.05
Capital Expenditure -3.97-0.38-3.10-0.44-0.27-0.22-0.19-0.16-0.13-0.11
UFCF 25.6531.4316.4118.86-5.8010.272.101.751.461.22
WACC
PV UFCF 9.471.781.371.050.81
SUM PV UFCF 14.48

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 8.50
Free cash flow (t + 1) 1.24
Terminal Value 19.08
Present Value of Terminal Value 12.69

Intrinsic Value

Enterprise Value 27.16
Net Debt -110.55
Equity Value 137.72
Shares Outstanding 9.38
Equity Value Per Share 14.68