DCF Tool


Brunswick Corp. – Boat Building
today, brunswick is the market leader in the marine, fitness and billiards industries; and our participation in these industries is deliberate. no company has brunswick’s breadth and scope in the marine industry. no company equals brunswick’s quality and innovation in fitness equipment. and no company possesses brunswick’s knowledge and heritage in billiards. as evidenced by our current portfolio of businesses, we are a different company today than we were 160 years, 25 years or even five years ago, and we have an ambitious road before us. despite our evolution, two fundamentals remain consistent: • our goal to be the best—and all it entails—in any industry of which we are a part; • our ability to create and unlock value in our varying portfolio of businesses.
Analysis Results
Intrinsic Value $396.38
Latest Price $78.23
Relative Value 80% undervalued
Thoughts on this result? Let us know.
Cash Flow (Billions)
Analysis Parameters
New Ticker
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 24.2%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 9.8%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 24.2%, 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 1.19 1.08
2024 1.47 1.22
2025 1.83 1.38
2026 2.27 1.56
2027 2.82 1.77
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 36.9 billion. This corresponds to a present value of 21.0 billion.

Intrinsic Value Per Share

The total present value of the projected cash flows is 7.02 billion. Adding in the terminal value gives a total present value of 28.0 billion.

There are presently 70.7 million outstanding shares, so the intrinsic value per share is 396.38.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 2,695,200,000
Current Cash 600,100,000
Current Liabilities 1,489,900,000
Current Debt 89,000,000
Non-Cash Working Capital (NCWC) 694,200,000
Change in NCWC 329,700,000
EBIT 976,900,000
Tax Provision 172,300,000
Depreciation and Amortization 231,200,000
Capital Expenditure -388,300,000
Unlevered Free Cash Flow 952,311,773
Current Assets 2,124,600,000
Current Cash 355,300,000
Current Liabilities 1,442,200,000
Current Debt 37,400,000
Non-Cash Working Capital (NCWC) 364,500,000
Change in NCWC 306,400,000
EBIT 816,000,000
Tax Provision 141,000,000
Depreciation and Amortization 178,100,000
Capital Expenditure -267,100,000
Unlevered Free Cash Flow 877,158,826
Current Assets 1,670,500,000
Current Cash 576,300,000
Current Liabilities 1,079,200,000
Current Debt 43,100,000
Non-Cash Working Capital (NCWC) 58,100,000
Change in NCWC -243,500,000
EBIT 547,900,000
Tax Provision 98,000,000
Depreciation and Amortization 153,400,000
Capital Expenditure -182,400,000
Unlevered Free Cash Flow 161,809,562
Current Assets 1,525,800,000
Current Cash 321,100,000
Current Liabilities 944,400,000
Current Debt 41,300,000
Non-Cash Working Capital (NCWC) 301,600,000
Change in NCWC -68,200,000
EBIT 497,100,000
Tax Provision 80,300,000
Depreciation and Amortization 138,700,000
Capital Expenditure -232,600,000
Unlevered Free Cash Flow -25,588,346
Current Assets 1,880,200,000
Current Cash 295,200,000
Current Liabilities 1,256,500,000
Current Debt 41,300,000
Non-Cash Working Capital (NCWC) 369,800,000
Change in NCWC 2,200,000
EBIT 455,600,000
Tax Provision 59,100,000
Depreciation and Amortization 149,600,000
Capital Expenditure -193,400,000
Unlevered Free Cash Flow 330,430,912
Current Assets 1,846,700,000
Current Cash 449,600,000
Current Liabilities 1,035,100,000
Current Debt 5,600,000
Non-Cash Working Capital (NCWC) 367,600,000
Change in NCWC 96,300,000
EBIT 494,200,000
Tax Provision 156,000,000
Depreciation and Amortization 98,200,000
Capital Expenditure -189,300,000
Unlevered Free Cash Flow 274,829,070
Current Assets 1,688,500,000
Current Cash 458,200,000
Current Liabilities 964,900,000
Current Debt 5,900,000
Non-Cash Working Capital (NCWC) 271,300,000
Change in NCWC -142,700,000
EBIT 484,000,000
Tax Provision 115,300,000
Depreciation and Amortization 103,900,000
Capital Expenditure -193,900,000
Unlevered Free Cash Flow 108,099,589
Current Assets 1,984,900,000
Current Cash 668,800,000
Current Liabilities 908,100,000
Current Debt 6,000,000
Non-Cash Working Capital (NCWC) 414,000,000
Change in NCWC -23,300,000
EBIT 430,100,000
Tax Provision 87,800,000
Depreciation and Amortization 88,900,000
Capital Expenditure -132,500,000
Unlevered Free Cash Flow 243,394,225
Current Assets 1,967,800,000
Current Cash 635,900,000
Current Liabilities 900,100,000
Current Debt 5,500,000
Non-Cash Working Capital (NCWC) 437,300,000
Change in NCWC 174,600,000
EBIT 362,400,000
Tax Provision 93,000,000
Depreciation and Amortization 81,200,000
Capital Expenditure -124,800,000
Unlevered Free Cash Flow 376,334,352
Current Assets 1,508,600,000
Current Cash 369,200,000
Current Liabilities 883,100,000
Current Debt 6,400,000
Non-Cash Working Capital (NCWC) 262,700,000
Change in NCWC 208,200,000
EBIT 323,700,000
Tax Provision -545,600,000
Depreciation and Amortization 87,500,000
Capital Expenditure -148,100,000
Unlevered Free Cash Flow 471,300,000
Current Assets 1,360,100,000
Current Cash 376,600,000
Current Liabilities 937,200,000
Current Debt 8,200,000
Non-Cash Working Capital (NCWC) 54,500,000
Change in NCWC 19,000,000
EBIT 286,100,000
Tax Provision 33,600,000
Depreciation and Amortization 90,000,000
Capital Expenditure -115,200,000
Unlevered Free Cash Flow 226,789,723

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.