Discounted Cash Flow (DCF) Analysis Unlevered

CoreCard Corporation (INS)

$40.15

-0.13 (-0.32%)
All numbers are in Millions, Currency in USD
Stock DCF: - | 40.15 | 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 9.3020.1034.3035.8748.2575.49118.10184.77289.09452.29
Revenue (%)
EBITDA 0.836.8614.5312.7711.7621.9534.3453.7384.06131.52
EBITDA (%)
EBIT 0.506.2513.5210.639.8919.0229.7646.5672.85113.98
EBIT (%)
Depreciation 0.330.611.012.141.872.934.587.1711.2117.54
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 14.4619.2726.4137.9629.2474.69116.86182.84286.06447.55
Total Cash (%)
Account Receivables 1.224.318.763.275.7712.2619.1830.0146.9673.46
Account Receivables (%)
Inventories ----------
Inventories (%)
Accounts Payable 0.320.270.400.712.762.073.245.067.9212.39
Accounts Payable (%)
Capital Expenditure -0.89-0.87-1.68-6.87-4.58-7.16-11.21-17.54-27.44-42.93
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 40.15
Beta 0.894
Diluted Shares Outstanding 8.92
Cost of Debt
Tax Rate 23.16
After-tax Cost of Debt -%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.969
Total Debt 2.71
Total Equity 358.12
Total Capital 360.83
Debt Weighting 0.75
Equity Weighting 99.25
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 9.3020.1034.3035.8748.2575.49118.10184.77289.09452.29
EBITDA 0.836.8614.5312.7711.7621.9534.3453.7384.06131.52
EBIT 0.506.2513.5210.639.8919.0229.7646.5672.85113.98
Tax Rate 5.59%0.06%18.84%23.22%23.16%14.17%14.17%14.17%14.17%14.17%
EBIAT 0.476.2410.978.167.6016.3325.5439.9662.5397.82
Depreciation 0.330.611.012.141.872.934.587.1711.2117.54
Accounts Receivable --3.09-4.455.49-2.50-6.49-6.92-10.83-16.94-26.51
Inventories ----------
Accounts Payable --0.050.130.312.05-0.701.171.832.864.47
Capital Expenditure -0.89-0.86-1.68-6.88-4.58-7.16-11.21-17.54-27.44-42.93
UFCF -0.092.865.999.224.444.9013.1620.5932.2150.40
WACC
PV UFCF -----
SUM PV UFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) -
Free cash flow (t + 1) 51.41
Terminal Value -
Present Value of Terminal Value -

Intrinsic Value

Enterprise Value -
Net Debt -26.54
Equity Value -
Shares Outstanding 8.92
Equity Value Per Share -