Discounted Cash Flow (DCF) Analysis Unlevered

Hawthorn Bancshares, Inc. (HWBK)

$20.85

-0.78 (-3.61%)
All numbers are in Millions, Currency in USD
Stock DCF: - | 20.85 | undervalue

Operating Data

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 57.6367.9775.0872.7387.9698.12109.45122.09136.19151.92
Revenue (%)
EBITDA 2219.7430.5035.5834.4738.4542.8947.8553.3759.54
EBITDA (%)
EBIT 19.9417.4828.2133.4431.6335.2939.3643.9148.9854.64
EBIT (%)
Depreciation 2.062.262.282.142.843.163.533.944.394.90
Depreciation (%)

Balance Sheet Data

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Total Cash 208.53226.64333.35337.38352.52393.24438.65489.32545.83608.88
Total Cash (%)
Account Receivables 6.486.646.627.958.961011.1512.4413.8815.48
Account Receivables (%)
Inventories -108.25-208.67-182.25-103.42-193.45-215.80-240.72-268.52-299.54-334.13
Inventories (%)
Accounts Payable 1.140.840.280.901.061.181.321.471.641.83
Accounts Payable (%)
Capital Expenditure -2.17-1.83-0.59-2.57-2.37-2.64-2.95-3.29-3.67-4.09
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 20.85
Beta 0.519
Diluted Shares Outstanding -
Cost of Debt
Tax Rate -121.30
After-tax Cost of Debt 5.00%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.609
Total Debt -
Total Equity -
Total Capital -
Debt Weighting -
Equity Weighting -
Wacc

Build Up Free Cash

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 57.6367.9775.0872.7387.9698.12109.45122.09136.19151.92
EBITDA 2219.7430.5035.5834.4738.4542.8947.8553.3759.54
EBIT 19.9417.4828.2133.4431.6335.2939.3643.9148.9854.64
Tax Rate 19.18%18.21%20.19%17.29%-121.30%-9.28%-9.28%-9.28%-9.28%-9.28%
EBIAT 16.1114.2922.5227.6670.0138.5643.0247.9953.5359.71
Depreciation 2.062.262.282.142.843.163.533.944.394.90
Accounts Receivable --0.160.02-1.33-1.01-1.04-1.15-1.29-1.44-1.60
Inventories -100.42-26.42-78.8290.0322.3424.9227.8031.0134.60
Accounts Payable --0.30-0.560.620.160.120.140.150.170.19
Capital Expenditure -2.17-1.83-0.59-2.57-2.37-2.64-2.95-3.29-3.67-4.09
UFCF 16.01114.70-2.75-52.30159.6560.5267.5175.308493.70
WACC
PV UFCF -----
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -
Free cash flow (t + 1) 95.58
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt -
Equity Value -
Shares Outstanding -
Equity Value Per Share -