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Major Indexes

Discounted Cash Flow (DCF) Analysis Unlevered


Home Federal Bancorp Inc. of Louisiana

Home Federal Bancorp Inc. of Louisi... (HFBL)

$25.83
1.33 (+5.43%)

Operating Data

Year
A/P
2013
Actual
2014
Actual
2015
Actual
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Projected
2021
Projected
2022
Projected
2023
Projected
Revenue 10.5710.8412.2912.8514.0914.9315.3216.3017.3518.4719.66
Revenue (%)
EBITDA 5.164.435.475.525.966.326.647.107.568.058.57
EBITDA (%)
EBIT 4.764.085.025.025.415.826.036.506.927.377.84
EBIT (%)
Depreciation 0.400.350.460.490.550.500.620.600.640.680.73
Depreciation (%)

Balance Sheet Data

Year
A/P
2013
Projected
2014
Projected
2015
Projected
2016
Projected
2017
Projected
2018
Projected
2019
Projected
2020
Projected
2021
Projected
2022
Projected
2023
Projected
Total Cash 51.6562.0766.0554.9348.8445.1959.7671.3975.9980.8886.09
Total Cash (%)
Account Receivables 0.770.960.931.021.091.151.171.281.361.451.54
Account Receivables (%)
Inventories -----------
Inventories (%)
Accounts Payable -----------
Accounts Payable (%)
Capital Expenditure 1.912.632.122.620.672.532.602.762.943.133.33
Capital Expenditure (%)

Weighted Average Cost Of Capital

Share price $ 25.83
Diluted Shares Outstanding 1.89
Cost of Debt
Tax Rate 21.29
After-tax Cost of Debt -1.01
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.33
Total Debt 0.45
Total Equity 48.92
Total Capital 49.37
Debt Weighting 0.91
Equity Weighting 99.09
Wacc

Build Up Free Cash

Year
A/P
2013
Actual
2014
Actual
2015
Actual
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Projected
2021
Projected
2022
Projected
2023
Projected
Revenue 10.5710.8412.2912.8514.0914.9315.3216.3017.3518.4719.66
EBITDA 5.164.435.475.525.966.326.647.107.568.058.57
EBIT 4.764.085.025.025.415.826.036.506.927.377.84
Tax Rate 34.22%32.68%33.11%32.74%32.50%38.69%21.29%32.18%32.18%32.18%32.18%
EBIAT 3.132.743.363.383.653.574.744.414.695.005.32
Depreciation 0.400.350.460.490.550.500.620.600.640.680.73
Accounts Receivable --0.190.04-0.10-0.07-0.05-0.03-0.10-0.08-0.09-0.09
Inventories -----------
Accounts Payable -----------
Capital Expenditure --0.720.52-0.501.95-1.86-0.07-0.17-0.18-0.19-0.20
UFCF 3.532.184.373.276.082.155.274.745.075.405.75
WACC
PV UFCF 4.124.114.074.04
SUM PV UFCF 30.80

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 7.30
Free cash flow (t + 1) 5.98
Terminal Value 181.19
Present Value of Terminal Value 127.39

Intrinsic Value

Enterprise Value 158.19
Net Debt -59.31
Equity Value 217.50
Shares Outstanding 1.89
Equity Value Per Share 114.84