DCF Tool


ACI Worldwide Inc – Software Publishers
aci worldwide, the universal payments (up) company,powers electronic payments for more than 5,100 organizations around the world. more than 1,000 of the largest financial institutions and intermediaries as well as thousands of leading merchants globally rely on aci to execute $14 trillion each day in payments. in addition, thousands of organizations utilize our electronic bill presentment and payment services. through our comprehensive suite of software and saas-based solutions, we deliver real-time, any-to-any payments capabilities and enable the industry’s most complete omni-channel payments experience. to learn more about aci, please visit www.aciworldwide.com. you can also find us on twitter @aci_worldwide.
Analysis Results
Intrinsic Value $67.45
Latest Price $22.94
Relative Value 66% undervalued
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Cash Flow (Millions)
Analysis Parameters
New Ticker
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 10.4%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 7.6%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 10.4%, 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)
2023 330 307
2024 365 315
2025 403 323
2026 445 331
2027 491 340
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 8880 million. This corresponds to a present value of 5710 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 1610 million. Adding in the terminal value gives a total present value of 7320 million.

There are presently 109.0 million outstanding shares, so the intrinsic value per share is 67.45.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 1,114,805,000
Current Cash 124,981,000
Current Liabilities 858,842,000
Current Debt 65,521,000
Non-Cash Working Capital (NCWC) 196,503,000
Change in NCWC 89,413,000
EBIT 203,835,000
Tax Provision 64,458,000
Depreciation and Amortization 138,364,000
Capital Expenditure -39,893,000
Unlevered Free Cash Flow 328,134,435
Current Assets 937,434,000
Current Cash 122,059,000
Current Liabilities 754,155,000
Current Debt 45,870,000
Non-Cash Working Capital (NCWC) 107,090,000
Change in NCWC -11,110,000
EBIT 209,897,000
Tax Provision 47,274,000
Depreciation and Amortization 143,908,000
Capital Expenditure -45,368,000
Unlevered Free Cash Flow 240,647,076
Current Assets 1,154,914,000
Current Cash 165,374,000
Current Liabilities 905,605,000
Current Debt 34,265,000
Non-Cash Working Capital (NCWC) 118,200,000
Change in NCWC -102,976,000
EBIT 144,744,000
Tax Provision 25,966,000
Depreciation and Amortization 163,764,000
Capital Expenditure -46,633,000
Unlevered Free Cash Flow 120,791,171
Current Assets 920,376,000
Current Cash 121,398,000
Current Liabilities 611,950,000
Current Debt 34,148,000
Non-Cash Working Capital (NCWC) 221,176,000
Change in NCWC 79,054,000
EBIT 123,756,000
Tax Provision 5,148,000
Depreciation and Amortization 138,503,000
Capital Expenditure -48,014,000
Unlevered Free Cash Flow 284,476,179
Current Assets 566,477,000
Current Cash 148,502,000
Current Liabilities 296,620,000
Current Debt 20,767,000
Non-Cash Working Capital (NCWC) 142,122,000
Change in NCWC 94,007,000
EBIT 125,911,000
Tax Provision 22,878,000
Depreciation and Amortization 97,350,000
Capital Expenditure -43,893,000
Unlevered Free Cash Flow 241,995,661
Current Assets 421,821,000
Current Cash 69,710,000
Current Liabilities 321,782,000
Current Debt 17,786,000
Non-Cash Working Capital (NCWC) 48,115,000
Change in NCWC 1,920,000
EBIT 84,640,000
Tax Provision 38,437,000
Depreciation and Amortization 102,224,000
Capital Expenditure -54,414,000
Unlevered Free Cash Flow 59,704,901
Current Assets 407,991,000
Current Cash 75,753,000
Current Liabilities 376,366,000
Current Debt 90,323,000
Non-Cash Working Capital (NCWC) 46,195,000
Change in NCWC 55,501,000
EBIT 69,667,000
Tax Provision 56,046,000
Depreciation and Amortization 103,454,000
Capital Expenditure -63,080,000
Unlevered Free Cash Flow 144,502,364
Current Assets 388,084,000
Current Cash 102,239,000
Current Liabilities 390,444,000
Current Debt 95,293,000
Non-Cash Working Capital (NCWC) -9,306,000
Change in NCWC -58,809,000
EBIT 127,948,000
Tax Provision 27,937,000
Depreciation and Amortization 97,431,000
Capital Expenditure -48,905,000
Unlevered Free Cash Flow 86,136,476
Current Assets 418,268,000
Current Cash 77,301,000
Current Liabilities 378,816,000
Current Debt 87,352,000
Non-Cash Working Capital (NCWC) 49,503,000
Change in NCWC 6,487,000
EBIT 138,172,000
Tax Provision 31,209,000
Depreciation and Amortization 86,683,000
Capital Expenditure -34,900,000
Unlevered Free Cash Flow 152,782,451
Current Assets 436,362,000
Current Cash 95,059,000
Current Liabilities 345,600,000
Current Debt 47,313,000
Non-Cash Working Capital (NCWC) 43,016,000
Change in NCWC 12,318,000
EBIT 123,048,000
Tax Provision 29,291,000
Depreciation and Amortization 69,967,000
Capital Expenditure -32,601,000
Unlevered Free Cash Flow 134,043,317
Current Assets 356,126,000
Current Cash 76,329,000
Current Liabilities 266,599,000
Current Debt 17,500,000
Non-Cash Working Capital (NCWC) 30,698,000
Change in NCWC 112,989,000
EBIT 74,372,000
Tax Provision 16,422,000
Depreciation and Amortization 50,781,000
Capital Expenditure -16,662,000
Unlevered Free Cash Flow 202,767,353

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