DCF Tool

ATKR

Atkore Inc – Iron and Steel Pipe and Tube Manufacturing from Purchased Steel
atkore delivers a unique portfolio of integrated electrical raceway solutions that deploy, isolate and protect a structure’s electrical circuitry from source to outlet. with 3,100 employees and 39 manufacturing and distribution facilities worldwide, we meet our customers’ needs by providing unmatched quality, delivery and value across a robust product line that includes steel, pvc and aluminum conduit, armored cable and flexible conduits, metal framing, wire baskets, cable trays and other complementary products including fittings and mechanical pipe. our mission is to be the customer’s first choice in electrical raceway and mechanical products and solutions by providing unmatched quality, delivery, and value based on sustainable excellence in strategy, people and processes.
Analysis Results
Intrinsic Value $536.64
Latest Price $166.86
Relative Value 69% undervalued
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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 26.9%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 11.3%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 26.9%, 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)
2024 0.939 0.844
2025 1.19 0.963
2026 1.51 1.1
2027 1.92 1.25
2028 2.44 1.43
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 26.8 billion. This corresponds to a present value of 14.1 billion.

Intrinsic Value Per Share

The total present value of the projected cash flows is 5.59 billion. Adding in the terminal value gives a total present value of 19.7 billion.

There are presently 36.8 million outstanding shares, so the intrinsic value per share is 536.64.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 1,538,490,000
Current Cash 388,114,000
Current Liabilities 564,604,000
Current Debt 1,200,000
Non-Cash Working Capital (NCWC) 586,972,000
Change in NCWC 23,802,000
EBIT 893,491,000
Tax Provision 160,390,000
Depreciation and Amortization 135,845,000
Capital Expenditure -218,888,000
Unlevered Free Cash Flow 665,711,005
Current Assets 1,452,820,000
Current Cash 388,751,000
Current Liabilities 501,911,000
Current Debt 1,012,000
Non-Cash Working Capital (NCWC) 563,170,000
Change in NCWC 242,031,000
EBIT 1,233,805,000
Tax Provision 290,186,000
Depreciation and Amortization 98,331,000
Capital Expenditure -135,776,000
Unlevered Free Cash Flow 1,140,927,319
Current Assets 1,421,452,000
Current Cash 576,289,000
Current Liabilities 524,936,000
Current Debt 912,000
Non-Cash Working Capital (NCWC) 321,139,000
Change in NCWC 52,674,000
EBIT 798,950,000
Tax Provision 192,144,000
Depreciation and Amortization 93,072,000
Capital Expenditure -64,474,000
Unlevered Free Cash Flow 683,410,138
Current Assets 828,676,000
Current Cash 284,471,000
Current Liabilities 276,170,000
Current Debt 430,000
Non-Cash Working Capital (NCWC) 268,465,000
Change in NCWC -20,123,000
EBIT 239,556,000
Tax Provision 49,696,000
Depreciation and Amortization 89,273,000
Capital Expenditure -33,770,000
Unlevered Free Cash Flow 215,999,896
Current Assets 699,537,000
Current Cash 123,415,000
Current Liabilities 287,534,000
Current Debt 0
Non-Cash Working Capital (NCWC) 288,588,000
Change in NCWC 14,298,000
EBIT 223,664,000
Tax Provision 45,618,000
Depreciation and Amortization 72,347,000
Capital Expenditure -34,860,000
Unlevered Free Cash Flow 220,198,230
Current Assets 647,138,000
Current Cash 126,662,000
Current Liabilities 272,747,000
Current Debt 26,561,000
Non-Cash Working Capital (NCWC) 274,290,000
Change in NCWC 21,871,000
EBIT 179,698,000
Tax Provision 29,707,000
Depreciation and Amortization 66,890,000
Capital Expenditure -38,501,000
Unlevered Free Cash Flow 197,867,682
Current Assets 505,759,000
Current Cash 45,718,000
Current Liabilities 211,837,000
Current Debt 4,215,000
Non-Cash Working Capital (NCWC) 252,419,000
Change in NCWC 73,332,000
EBIT 157,457,000
Tax Provision 41,486,000
Depreciation and Amortization 54,727,000
Capital Expenditure -25,122,000
Unlevered Free Cash Flow 208,602,038

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