Discounted Cash Flow (DCF) Analysis Unlevered

First Community Corporation (FCCO)

$17.45

-0.25 (-1.41%)
All numbers are in Millions, Currency in USD
Stock DCF: 58.89 | 17.45 | 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 37.8443.8245.7950.4059.0166.0173.8482.6092.40103.37
Revenue (%)
EBITDA 13.7019.9921.7318.3522.0926.823033.5637.5441.99
EBITDA (%)
EBIT 11.9117.9019.6116.3519.4223.8326.6629.8233.3637.32
EBIT (%)
Depreciation 1.792.082.1222.672.983.343.734.184.67
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 294.81270.10334.49424.860391.99438.49490.51548.70613.79
Total Cash (%)
Account Receivables ----------
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable ----------
Accounts Payable (%)
Capital Expenditure -3.07-1.47-2.79-1.09-2.91-3.25-3.64-4.07-4.56-5.10
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 17.45
Beta 0.544
Diluted Shares Outstanding 7.56
Cost of Debt
Tax Rate 21.29
After-tax Cost of Debt 11,788,209.25%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.263
Total Debt 0
Total Equity 132.01
Total Capital 132.01
Debt Weighting 0.00
Equity Weighting 100.00
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 37.8443.8245.7950.4059.0166.0173.8482.6092.40103.37
EBITDA 13.7019.9921.7318.3522.0926.823033.5637.5441.99
EBIT 11.9117.9019.6116.3519.4223.8326.6629.8233.3637.32
Tax Rate 36.41%19.35%20.67%19.82%21.29%23.51%23.51%23.51%23.51%23.51%
EBIAT 7.5714.4415.5613.1115.2918.2320.3922.8125.5228.54
Depreciation 1.792.082.1222.672.983.343.734.184.67
Accounts Receivable ----------
Inventories ----------
Accounts Payable ----------
Capital Expenditure -3.07-1.47-2.79-1.09-2.91-3.25-3.64-4.07-4.56-5.10
UFCF 6.2915.0614.8914.0215.0517.9620.0922.4725.1428.12
WACC
PV UFCF 16.6917.3518.0418.7519.50
SUM PV UFCF 90.34

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.60
Free cash flow (t + 1) 28.68
Terminal Value 512.23
Present Value of Terminal Value 355.14

Intrinsic Value

Enterprise Value 445.48
Net Debt -0
Equity Value 445.48
Shares Outstanding 7.56
Equity Value Per Share 58.89