DCF Tool

AIN

Albany International Corp. – Broadwoven Fabric Mills
Albany International is a leading developer and manufacturer of engineered components, using advanced materials processing and automation capabilities, with two core businesses. Machine Clothing is the world's leading producer of fabrics and process felts used in the manufacture of all grades of paper products. Albany Engineered Composites is a rapidly growing designer and manufacturer of advanced materials-based engineered components for jet engine and airframe applications, supporting both commercial and military platforms. Albany International is headquartered in Rochester, New Hampshire, operates 23 plants in 11 countries, employs more than 4,000 people worldwide.
Analysis Results
Intrinsic Value $213.61
Latest Price $104.24
Relative Value 51% undervalued
Thoughts on this result? Let us know.
Ad
Cash Flow (Millions)
Analysis Parameters
%
%
%
New Ticker
Ad
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 18.4%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 7.8%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 18.4%, 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)
2022 241 224
2023 286 246
2024 338 270
2025 401 297
2026 475 326
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 8300 million. This corresponds to a present value of 5280 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 1360 million. Adding in the terminal value gives a total present value of 6640 million.

There are presently 31.1 million outstanding shares, so the intrinsic value per share is 213.61.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 758,801,000
Current Cash 302,036,000
Current Liabilities 208,166,000
Current Debt 1,606,000
Non-Cash Working Capital (NCWC) 250,205,000
Change in NCWC -36,339,000
EBIT 179,342,000
Tax Provision 47,163,000
Depreciation and Amortization 74,255,000
Capital Expenditure -53,699,000
Unlevered Free Cash Flow 112,584,156
Current Assets 717,276,000
Current Cash 241,316,000
Current Liabilities 190,863,000
Current Debt 1,447,000
Non-Cash Working Capital (NCWC) 286,544,000
Change in NCWC 64,614,000
EBIT 171,816,000
Tax Provision 41,831,000
Depreciation and Amortization 72,705,000
Capital Expenditure -42,390,000
Unlevered Free Cash Flow 215,065,785
Current Assets 618,334,000
Current Cash 195,540,000
Current Liabilities 202,719,000
Current Debt 1,855,000
Non-Cash Working Capital (NCWC) 221,930,000
Change in NCWC 14,718,000
EBIT 196,481,000
Tax Provision 44,829,000
Depreciation and Amortization 70,795,000
Capital Expenditure -67,955,000
Unlevered Free Cash Flow 164,614,456
Current Assets 593,049,000
Current Cash 197,755,000
Current Liabilities 189,306,000
Current Debt 1,224,000
Non-Cash Working Capital (NCWC) 207,212,000
Change in NCWC 6,688,000
EBIT 152,978,000
Tax Provision 32,228,000
Depreciation and Amortization 79,036,000
Capital Expenditure -82,886,000
Unlevered Free Cash Flow 113,036,795
Current Assets 543,707,000
Current Cash 183,727,000
Current Liabilities 161,517,000
Current Debt 2,061,000
Non-Cash Working Capital (NCWC) 200,524,000
Change in NCWC 28,992,000
EBIT 89,642,000
Tax Provision 22,123,000
Depreciation and Amortization 71,956,000
Capital Expenditure -87,637,000
Unlevered Free Cash Flow 66,703,274
Current Assets 501,305,000
Current Cash 181,742,000
Current Liabilities 200,009,000
Current Debt 51,978,000
Non-Cash Working Capital (NCWC) 171,532,000
Change in NCWC 30,213,000
EBIT 100,152,000
Tax Provision 25,454,000
Depreciation and Amortization 67,461,000
Capital Expenditure -73,492,000
Unlevered Free Cash Flow 91,762,142
Current Assets 452,060,000
Current Cash 185,113,000
Current Liabilities 126,231,000
Current Debt 603,000
Non-Cash Working Capital (NCWC) 141,319,000
Change in NCWC -6,287,000
EBIT 87,741,000
Tax Provision -5,787,000
Depreciation and Amortization 60,114,000
Capital Expenditure -50,595,000
Unlevered Free Cash Flow 90,973,000
Current Assets 460,130,000
Current Cash 179,802,000
Current Liabilities 183,398,000
Current Debt 50,676,000
Non-Cash Working Capital (NCWC) 147,606,000
Change in NCWC 1,907,000
EBIT 85,309,000
Tax Provision 25,751,000
Depreciation and Amortization 64,292,000
Capital Expenditure -58,873,000
Unlevered Free Cash Flow 60,089,932
Current Assets 522,484,000
Current Cash 222,666,000
Current Liabilities 158,508,000
Current Debt 4,389,000
Non-Cash Working Capital (NCWC) 145,699,000
Change in NCWC -24,122,000
EBIT 77,199,000
Tax Provision 13,372,000
Depreciation and Amortization 63,789,000
Capital Expenditure -64,457,000
Unlevered Free Cash Flow 19,190,277
Current Assets 512,465,000
Current Cash 190,718,000
Current Liabilities 235,788,000
Current Debt 83,862,000
Non-Cash Working Capital (NCWC) 169,821,000
Change in NCWC -49,179,000
EBIT 82,660,000
Tax Provision -27,523,000
Depreciation and Amortization 63,235,000
Capital Expenditure -37,207,000
Unlevered Free Cash Flow 59,509,000

This analysis is provided for informational purposes only and does not constitute financial or investing advice. For more information on the advantages and limitations of DCF analysis see background. This information is provided on an "as is" basis. No warranty, expressed or implied, is made regarding accuracy, adequacy, completeness, legality, reliability or usefulness of any information. By using this site you agree that under no circumstances shall Valuation Tools LLC be held liable for any loss or damage caused by information obtained from this website including any articles, data, videos, its social media accounts, or any other materials.