DCF Tool

ACN

Accenture plc – Data Processing, Hosting, and Related Services
Accenture plc is an Irish-American professional services company based in Dublin, specializing in information technology services and consulting. A Fortune Global 500 company, it reported revenues of $61.6 billion in 2022.
Analysis Results
Intrinsic Value $199.26
Latest Price $316.81
Relative Value 59% overvalued
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Cash Flow (Billions)
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 11.7%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 10.0%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 11.7%, 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 (billion) Present value (billion)
2023 8.38 7.62
2024 9.36 7.73
2025 10.5 7.85
2026 11.7 7.96
2027 13.0 8.08
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 165 billion. This corresponds to a present value of 93.1 billion.

Intrinsic Value Per Share

The total present value of the projected cash flows is 39.2 billion. Adding in the terminal value gives a total present value of 132 billion.

There are presently 664.0 million outstanding shares, so the intrinsic value per share is 199.26.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 21,610,871,000
Current Cash 7,893,806,000
Current Liabilities 17,523,496,000
Current Debt 9,175,000
Non-Cash Working Capital (NCWC) -3,797,256,000
Change in NCWC 405,488,000
EBIT 9,367,181,000
Tax Provision 2,207,207,000
Depreciation and Amortization 2,088,216,000
Capital Expenditure -717,998,000
Unlevered Free Cash Flow 8,894,634,279
Current Assets 19,666,511,000
Current Cash 8,172,468,000
Current Liabilities 15,708,867,000
Current Debt 12,080,000
Non-Cash Working Capital (NCWC) -4,202,744,000
Change in NCWC -788,091,000
EBIT 7,621,529,000
Tax Provision 1,770,571,000
Depreciation and Amortization 1,891,242,000
Capital Expenditure -580,132,000
Unlevered Free Cash Flow 6,405,821,478
Current Assets 17,749,756,000
Current Cash 8,509,639,000
Current Liabilities 12,662,590,000
Current Debt 7,820,000
Non-Cash Working Capital (NCWC) -3,414,653,000
Change in NCWC -1,679,762,000
EBIT 6,513,644,000
Tax Provision 1,589,018,000
Depreciation and Amortization 1,773,124,000
Capital Expenditure -599,132,000
Unlevered Free Cash Flow 4,480,003,932
Current Assets 15,450,601,000
Current Cash 6,130,007,000
Current Liabilities 11,061,896,000
Current Debt 6,411,000
Non-Cash Working Capital (NCWC) -1,734,891,000
Change in NCWC -155,142,000
EBIT 6,305,074,000
Tax Provision 1,405,556,000
Depreciation and Amortization 892,760,000
Capital Expenditure -599,009,000
Unlevered Free Cash Flow 5,026,149,034
Current Assets 13,585,559,000
Current Cash 5,018,894,000
Current Liabilities 10,151,751,000
Current Debt 5,337,000
Non-Cash Working Capital (NCWC) -1,579,749,000
Change in NCWC 274,205,000
EBIT 5,841,041,000
Tax Provision 1,593,499,000
Depreciation and Amortization 926,776,000
Capital Expenditure -619,187,000
Unlevered Free Cash Flow 4,820,296,440
Current Assets 12,097,289,000
Current Cash 4,129,871,000
Current Liabilities 9,824,279,000
Current Debt 2,907,000
Non-Cash Working Capital (NCWC) -1,853,954,000
Change in NCWC -45,541,000
EBIT 5,142,402,000
Tax Provision 981,100,000
Depreciation and Amortization 801,789,000
Capital Expenditure -515,919,000
Unlevered Free Cash Flow 4,289,755,344
Current Assets 11,976,222,000
Current Cash 4,908,484,000
Current Liabilities 8,878,924,000
Current Debt 2,773,000
Non-Cash Working Capital (NCWC) -1,808,413,000
Change in NCWC -494,242,000
EBIT 4,810,445,000
Tax Provision 1,253,969,000
Depreciation and Amortization 729,052,000
Capital Expenditure -496,566,000
Unlevered Free Cash Flow 3,472,206,194
Current Assets 11,579,394,000
Current Cash 4,363,214,000
Current Liabilities 8,532,199,000
Current Debt 1,848,000
Non-Cash Working Capital (NCWC) -1,314,171,000
Change in NCWC -136,957,000
EBIT 4,500,251,000
Tax Provision 1,136,741,000
Depreciation and Amortization 645,923,000
Capital Expenditure -395,017,000
Unlevered Free Cash Flow 3,454,334,899
Current Assets 11,904,442,000
Current Cash 4,923,907,000
Current Liabilities 8,158,079,000
Current Debt 330,000
Non-Cash Working Capital (NCWC) -1,177,214,000
Change in NCWC 774,008,000
EBIT 4,282,497,000
Tax Provision 1,121,743,000
Depreciation and Amortization 620,743,000
Capital Expenditure -321,870,000
Unlevered Free Cash Flow 4,237,603,396
Current Assets 11,844,178,000
Current Cash 5,634,410,000
Current Liabilities 8,160,990,000
Current Debt 0
Non-Cash Working Capital (NCWC) -1,951,222,000
Change in NCWC 212,828,000
EBIT 4,066,638,000
Tax Provision 784,775,000
Depreciation and Amortization 593,028,000
Capital Expenditure -369,593,000
Unlevered Free Cash Flow 3,767,436,697
Current Assets 12,587,931,000
Current Cash 6,642,787,000
Current Liabilities 8,109,205,000
Current Debt 11,000
Non-Cash Working Capital (NCWC) -2,164,050,000
Change in NCWC -27,056,000
EBIT 3,873,239,000
Tax Provision 1,079,241,000
Depreciation and Amortization 0
Capital Expenditure -371,974,000
Unlevered Free Cash Flow 2,403,519,442

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