DCF Tool

ALV

Autoliv Inc. – Motor Vehicle Gasoline Engine and Engine Parts Manufacturing
Autoliv, Inc. is the worldwide leader in vehicle safety systems, and through our subsidiaries we develop, manufacture and market protective systems, such as airbags, seatbelts, steering wheels and pedestrian protection systems for all major automotive manufacturers in the world. Our products save over 30,000 lives each year and prevent ten times as many severe injuries. Our more than 65,000 associates in 27 countries are passionate about our vision of Saving More Lives and quality is at the heart of everything we do. We have 14 technical centers, with 20 test tracks. Sales in 2019 amounted to US $ 8,548 million.
Analysis Results
Intrinsic Value $53.37
Latest Price $81.33
Relative Value 52% overvalued
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 -2.7%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 8.6%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of -2.7%, 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 (million) Present value (million)
2022 380 350
2023 369 313
2024 359 281
2025 350 251
2026 340 225
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 5270 million. This corresponds to a present value of 3210 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 1420 million. Adding in the terminal value gives a total present value of 4630 million.

There are presently 86.8 million outstanding shares, so the intrinsic value per share is 53.37.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 3,675,000,000
Current Cash 969,000,000
Current Liabilities 2,821,000,000
Current Debt 346,000,000
Non-Cash Working Capital (NCWC) 231,000,000
Change in NCWC -14,700,000
EBIT 681,000,000
Tax Provision 177,000,000
Depreciation and Amortization 394,000,000
Capital Expenditure -458,000,000
Unlevered Free Cash Flow 406,304,878
Current Assets 4,269,000,000
Current Cash 1,178,200,000
Current Liabilities 3,146,900,000
Current Debt 301,800,000
Non-Cash Working Capital (NCWC) 245,700,000
Change in NCWC -269,600,000
EBIT 474,500,000
Tax Provision 102,900,000
Depreciation and Amortization 370,900,000
Capital Expenditure -343,500,000
Unlevered Free Cash Flow 64,628,125
Current Assets 3,002,100,000
Current Cash 444,700,000
Current Liabilities 2,410,200,000
Current Debt 368,100,000
Non-Cash Working Capital (NCWC) 515,300,000
Change in NCWC 90,500,000
EBIT 770,500,000
Tax Provision 185,600,000
Depreciation and Amortization 350,600,000
Capital Expenditure -483,400,000
Unlevered Free Cash Flow 507,649,722
Current Assets 3,285,400,000
Current Cash 615,800,000
Current Liabilities 2,865,500,000
Current Debt 620,700,000
Non-Cash Working Capital (NCWC) 424,800,000
Change in NCWC -185,500,000
EBIT 900,700,000
Tax Provision 234,900,000
Depreciation and Amortization 397,100,000
Capital Expenditure -560,000,000
Unlevered Free Cash Flow 206,815,953
Current Assets 4,204,700,000
Current Cash 959,500,000
Current Liabilities 2,654,600,000
Current Debt 19,700,000
Non-Cash Working Capital (NCWC) 610,300,000
Change in NCWC 73,900,000
EBIT 842,400,000
Tax Provision 203,500,000
Depreciation and Amortization 425,800,000
Capital Expenditure -580,100,000
Unlevered Free Cash Flow 423,543,139
Current Assets 4,140,900,000
Current Cash 1,226,700,000
Current Liabilities 2,597,600,000
Current Debt 219,800,000
Non-Cash Working Capital (NCWC) 536,400,000
Change in NCWC 18,400,000
EBIT 888,800,000
Tax Provision 242,200,000
Depreciation and Amortization 383,000,000
Capital Expenditure -506,800,000
Unlevered Free Cash Flow 515,587,907
Current Assets 4,038,300,000
Current Cash 1,333,500,000
Current Liabilities 2,226,400,000
Current Debt 39,600,000
Non-Cash Working Capital (NCWC) 518,000,000
Change in NCWC -30,200,000
EBIT 893,900,000
Tax Provision 218,200,000
Depreciation and Amortization 319,100,000
Capital Expenditure -465,800,000
Unlevered Free Cash Flow 428,337,901
Current Assets 4,136,200,000
Current Cash 1,529,000,000
Current Liabilities 2,138,600,000
Current Debt 79,600,000
Non-Cash Working Capital (NCWC) 548,200,000
Change in NCWC 55,200,000
EBIT 844,200,000
Tax Provision 198,000,000
Depreciation and Amortization 305,400,000
Capital Expenditure -456,000,000
Unlevered Free Cash Flow 498,197,901
Current Assets 3,700,400,000
Current Cash 1,118,300,000
Current Liabilities 2,428,500,000
Current Debt 339,400,000
Non-Cash Working Capital (NCWC) 493,000,000
Change in NCWC -38,500,000
EBIT 812,300,000
Tax Provision 244,100,000
Depreciation and Amortization 286,000,000
Capital Expenditure -385,600,000
Unlevered Free Cash Flow 404,060,449
Current Assets 3,289,200,000
Current Cash 977,700,000
Current Liabilities 1,849,800,000
Current Debt 69,800,000
Non-Cash Working Capital (NCWC) 531,500,000
Change in NCWC 53,500,000
EBIT 812,000,000
Tax Provision 183,000,000
Depreciation and Amortization 273,200,000
Capital Expenditure -365,400,000
Unlevered Free Cash Flow 551,050,523

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.