DCF Tool

BKU

BankUnited Inc – Savings Institutions
BankUnited, Inc., with total assets of $35.0 billion at December 31, 2020, is the bank holding company of BankUnited, N.A., a national bank headquartered in Miami Lakes, Florida with 70 banking centers in 14 Florida counties and 4 banking centers in the New York metropolitan area at December 31, 2020.
Analysis Results
Intrinsic Value $176.13
Latest Price $39.81
Relative Value 77% undervalued
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Cash Flow (Millions)
Analysis Parameters
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Analysis Details
Growth Rate Projection

An exponential growth model was fit to the past cash flow data, giving more weight to more recent years. This model determined a growth rate estimate of 3.2%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 4.6%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 3.2%, the cash flows for the next 5 years are projected.

The present value of each year's flow is adjusted to present value using the discount rate.

Year Future flow (million) Present value (million)
2022 448 428
2023 462 422
2024 477 417
2025 492 411
2026 508 406
Terminal Value

Assuming the company was sold after the projection period at an exit multiple of 30, the terminal value of the company would be 15200 million. This corresponds to a present value of 11600 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 2080 million. Adding in the terminal value gives a total present value of 13700 million.

There are presently 77.9 million outstanding shares, so the intrinsic value per share is 176.13.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 34,153,510,000
Current Cash 0
Current Liabilities 32,233,302,000
Current Debt 0
Non-Cash Working Capital (NCWC) 1,920,208,000
Change in NCWC 5,296,000
EBIT 449,385,000
Tax Provision 34,401,000
Depreciation and Amortization 57,295,000
Capital Expenditure -44,179,000
Unlevered Free Cash Flow 433,396,000
Current Assets 33,403,659,000
Current Cash 0
Current Liabilities 31,488,747,000
Current Debt 0
Non-Cash Working Capital (NCWC) 1,914,912,000
Change in NCWC -36,723,000
EBIT 249,359,000
Tax Provision 51,506,000
Depreciation and Amortization 72,508,000
Capital Expenditure -19,597,000
Unlevered Free Cash Flow 214,041,000
Current Assets 31,321,817,000
Current Cash 0
Current Liabilities 29,370,182,000
Current Debt 0
Non-Cash Working Capital (NCWC) 1,951,635,000
Change in NCWC 71,176,000
EBIT 403,996,000
Tax Provision 90,898,000
Depreciation and Amortization 72,425,000
Capital Expenditure -63,786,000
Unlevered Free Cash Flow 392,913,000
Current Assets 30,720,072,000
Current Cash 0
Current Liabilities 28,839,613,000
Current Debt 0
Non-Cash Working Capital (NCWC) 1,880,459,000
Change in NCWC 170,819,000
EBIT 415,650,000
Tax Provision 90,784,000
Depreciation and Amortization 64,268,000
Capital Expenditure 0
Unlevered Free Cash Flow 559,953,000
Current Assets 28,752,844,000
Current Cash 0
Current Liabilities 27,043,204,000
Current Debt 0
Non-Cash Working Capital (NCWC) 1,709,640,000
Change in NCWC 217,229,000
EBIT 404,461,000
Tax Provision -209,812,000
Depreciation and Amortization 61,552,000
Capital Expenditure 0
Unlevered Free Cash Flow 683,242,000
Current Assets 26,615,741,000
Current Cash 0
Current Liabilities 25,123,330,000
Current Debt 0
Non-Cash Working Capital (NCWC) 1,492,411,000
Change in NCWC 176,601,000
EBIT 335,444,000
Tax Provision 109,703,000
Depreciation and Amortization 56,444,000
Capital Expenditure 0
Unlevered Free Cash Flow 458,786,000
Current Assets 22,655,101,000
Current Cash 0
Current Liabilities 21,339,291,000
Current Debt 0
Non-Cash Working Capital (NCWC) 1,315,810,000
Change in NCWC -134,718,000
EBIT 296,893,000
Tax Provision 45,233,000
Depreciation and Amortization 43,390,000
Capital Expenditure -23,272,000
Unlevered Free Cash Flow 137,060,000
Current Assets 18,270,215,000
Current Cash 0
Current Liabilities 16,819,687,000
Current Debt 0
Non-Cash Working Capital (NCWC) 1,450,528,000
Change in NCWC 164,218,000
EBIT 290,633,000
Tax Provision 89,035,000
Depreciation and Amortization 31,552,000
Capital Expenditure -24,012,000
Unlevered Free Cash Flow 374,150,559
Current Assets 14,231,134,000
Current Cash 0
Current Liabilities 12,944,824,000
Current Debt 0
Non-Cash Working Capital (NCWC) 1,286,310,000
Change in NCWC -23,665,000
EBIT 310,373,000
Tax Provision 109,066,000
Depreciation and Amortization 23,184,000
Capital Expenditure -184,088,000
Unlevered Free Cash Flow 19,354,538

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