DCF Tool

ATRI

Atrion Corp. – Surgical and Medical Instrument Manufacturing
atrion corp is a medical device company located in 527 plymouth rd, plymouth, pennsylvania, united states.
Analysis Results
Intrinsic Value $332.59
Latest Price $419.00
Relative Value 26% overvalued
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Cash Flow (Millions)
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 1.4%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 7.0%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 1.4%, 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 31.4 29.4
2024 31.9 27.9
2025 32.4 26.4
2026 32.8 25.0
2027 33.3 23.7
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 679 million. This corresponds to a present value of 453 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 132 million. Adding in the terminal value gives a total present value of 585 million.

There are presently 1.76 million outstanding shares, so the intrinsic value per share is 332.59.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 119,397,000
Current Cash 25,883,000
Current Liabilities 18,098,000
Current Debt 0
Non-Cash Working Capital (NCWC) 75,416,000
Change in NCWC 13,514,000
EBIT 39,687,000
Tax Provision 5,609,000
Depreciation and Amortization 13,812,000
Capital Expenditure -33,736,000
Unlevered Free Cash Flow 27,796,428
Current Assets 136,571,000
Current Cash 61,323,000
Current Liabilities 13,346,000
Current Debt 0
Non-Cash Working Capital (NCWC) 61,902,000
Change in NCWC 4,927,000
EBIT 36,042,000
Tax Provision 5,374,000
Depreciation and Amortization 12,885,000
Capital Expenditure -15,828,000
Unlevered Free Cash Flow 32,985,803
Current Assets 112,319,000
Current Cash 41,708,000
Current Liabilities 13,636,000
Current Debt 0
Non-Cash Working Capital (NCWC) 56,975,000
Change in NCWC 4,725,000
EBIT 35,668,000
Tax Provision 6,352,000
Depreciation and Amortization 11,652,000
Capital Expenditure -21,886,000
Unlevered Free Cash Flow 24,269,194
Current Assets 132,338,000
Current Cash 68,814,000
Current Liabilities 11,274,000
Current Debt 0
Non-Cash Working Capital (NCWC) 52,250,000
Change in NCWC 8,642,000
EBIT 40,529,000
Tax Provision 6,407,000
Depreciation and Amortization 10,853,000
Capital Expenditure -20,446,000
Unlevered Free Cash Flow 33,562,680
Current Assets 122,265,000
Current Cash 68,437,000
Current Liabilities 10,220,000
Current Debt 0
Non-Cash Working Capital (NCWC) 43,608,000
Change in NCWC 3,601,000
EBIT 41,707,000
Tax Provision 7,781,000
Depreciation and Amortization 9,123,000
Capital Expenditure -17,507,000
Unlevered Free Cash Flow 29,203,898
Current Assets 115,233,000
Current Cash 65,604,000
Current Liabilities 9,622,000
Current Debt 0
Non-Cash Working Capital (NCWC) 40,007,000
Change in NCWC -933,000
EBIT 41,274,000
Tax Provision 5,747,000
Depreciation and Amortization 8,677,000
Capital Expenditure -9,677,000
Unlevered Free Cash Flow 33,738,693
Current Assets 94,115,000
Current Cash 44,102,000
Current Liabilities 9,073,000
Current Debt 0
Non-Cash Working Capital (NCWC) 40,940,000
Change in NCWC 351,000
EBIT 39,126,000
Tax Provision 11,685,000
Depreciation and Amortization 8,953,000
Capital Expenditure -10,639,000
Unlevered Free Cash Flow 26,147,661
Current Assets 78,295,000
Current Cash 28,390,000
Current Liabilities 9,316,000
Current Debt 0
Non-Cash Working Capital (NCWC) 40,589,000
Change in NCWC 248,000
EBIT 42,510,000
Tax Provision 11,945,000
Depreciation and Amortization 8,823,000
Capital Expenditure -9,323,000
Unlevered Free Cash Flow 29,833,680
Current Assets 74,136,000
Current Cash 23,859,000
Current Liabilities 9,936,000
Current Debt 0
Non-Cash Working Capital (NCWC) 40,341,000
Change in NCWC 6,296,000
EBIT 40,817,000
Tax Provision 14,213,000
Depreciation and Amortization 8,723,000
Capital Expenditure -12,671,000
Unlevered Free Cash Flow 29,359,235
Current Assets 90,319,000
Current Cash 46,910,000
Current Liabilities 9,364,000
Current Debt 0
Non-Cash Working Capital (NCWC) 34,045,000
Change in NCWC 687,000
EBIT 37,944,000
Tax Provision 12,683,000
Depreciation and Amortization 8,592,000
Capital Expenditure -9,653,000
Unlevered Free Cash Flow 25,313,696
Current Assets 56,747,000
Current Cash 16,181,000
Current Liabilities 7,208,000
Current Debt 0
Non-Cash Working Capital (NCWC) 33,358,000
Change in NCWC 4,528,000
EBIT 33,626,000
Tax Provision 11,446,000
Depreciation and Amortization 7,610,000
Capital Expenditure -10,347,000
Unlevered Free Cash Flow 24,443,851

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