Discounted Cash Flow (DCF) Analysis Unlevered

Century Communities, Inc. (CCS)

$44.2

+0.64 (+1.47%)
All numbers are in Millions, Currency in USD
Stock DCF: - | 44.2 | undervalue

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 1,423.802,147.412,535.913,161.194,216.315,554.457,317.289,639.5712,698.9016,729.17
Revenue (%)
EBITDA 91.14140.56146.02283.38652.03479.17631.24831.581,095.491,443.17
EBITDA (%)
EBIT 84.16128.53132.63270.24641.12454.15598.28788.161,038.291,367.82
EBIT (%)
Depreciation 6.9712.0313.3813.1410.9125.0232.9643.4257.2075.36
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 88.8332.9055.44394316.31332.41437.91576.89759.981,001.17
Total Cash (%)
Account Receivables 15.7568.6743.4432.9455.3993.01122.53161.42212.65280.14
Account Receivables (%)
Inventories 1,390.351,848.241,995.551,929.662,456.614,240.475,586.277,359.199,694.7912,771.64
Inventories (%)
Accounts Payable 24.8389.9184.79107.7184.68163.19214.98283.21373.10491.51
Accounts Payable (%)
Capital Expenditure -17.63-15.80-16.12-8.52-11.58-35.03-46.15-60.80-80.09-105.51
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 44.2
Beta 1.852
Diluted Shares Outstanding 34.44
Cost of Debt
Tax Rate 22.25
After-tax Cost of Debt -%
Risk-Free Rate
Market Risk Premium
Cost of Equity 12.437
Total Debt 1,348.17
Total Equity 1,522.47
Total Capital 2,870.64
Debt Weighting 46.96
Equity Weighting 53.04
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 1,423.802,147.412,535.913,161.194,216.315,554.457,317.289,639.5712,698.9016,729.17
EBITDA 91.14140.56146.02283.38652.03479.17631.24831.581,095.491,443.17
EBIT 84.16128.53132.63270.24641.12454.15598.28788.161,038.291,367.82
Tax Rate 40.24%24.96%14.81%23.71%22.25%25.19%25.19%25.19%25.19%25.19%
EBIAT 50.3096.45112.99206.16498.50339.73447.56589.60776.721,023.23
Depreciation 6.9712.0313.3813.1410.9125.0232.9643.4257.2075.36
Accounts Receivable --52.9225.2310.50-22.45-37.63-29.52-38.89-51.23-67.49
Inventories --457.89-147.3165.89-526.95-1,783.85-1,345.80-1,772.92-2,335.60-3,076.85
Accounts Payable -65.08-5.1122.92-23.0378.5151.7968.2389.88118.41
Capital Expenditure -17.63-15.80-16.12-8.52-11.58-35.03-46.15-60.80-80.09-105.51
UFCF 39.64-353.05-16.93310.08-74.59-1,413.24-889.17-1,171.36-1,543.12-2,032.86
WACC
PV UFCF -----
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -
Free cash flow (t + 1) -2,073.52
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt 1,031.86
Equity Value -
Shares Outstanding 34.44
Equity Value Per Share -