DCF Tool


TopBuild Corp – All Other Specialty Trade Contractors
topbuild is the leading installer and distributor of insulation products to the united states construction industry, based on revenue. we provide insulation installation services nationwide through our truteamsm business, which has over 190 installation branches located in 43 states; we distribute insulation and other building products nationwide through our service partners® business from our 72 distribution centers located in 35 states; and in addition to our core product and service expertise, we are a leader in building science through topbuild home services, inc. and its environments for living® program. topbuild corp., an independent, publically traded company, was formed in 2015 from the spin-off of masco corporation’s installation and other services businesses.
Analysis Results
Intrinsic Value $1,892.23
Latest Price $251.56
Relative Value 87% 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 51.5%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 10.1%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 51.5%, 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 1.29 1.17
2024 1.95 1.61
2025 2.95 2.21
2026 4.47 3.04
2027 6.77 4.18
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 85.3 billion. This corresponds to a present value of 47.9 billion.

Intrinsic Value Per Share

The total present value of the projected cash flows is 12.2 billion. Adding in the terminal value gives a total present value of 60.1 billion.

There are presently 31.8 million outstanding shares, so the intrinsic value per share is 1892.23.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 1,549,041,000
Current Cash 240,069,000
Current Liabilities 789,639,000
Current Debt 42,275,000
Non-Cash Working Capital (NCWC) 561,608,000
Change in NCWC 206,095,000
EBIT 797,164,000
Tax Provision 186,146,000
Depreciation and Amortization 123,335,000
Capital Expenditure -76,382,000
Unlevered Free Cash Flow 850,263,351
Current Assets 1,187,691,000
Current Cash 139,779,000
Current Liabilities 733,426,000
Current Debt 41,027,000
Non-Cash Working Capital (NCWC) 355,513,000
Change in NCWC 222,266,000
EBIT 476,419,000
Tax Provision 109,427,000
Depreciation and Amortization 79,390,000
Capital Expenditure -55,546,000
Unlevered Free Cash Flow 602,252,281
Current Assets 936,405,000
Current Cash 330,007,000
Current Liabilities 496,477,000
Current Debt 23,326,000
Non-Cash Working Capital (NCWC) 133,247,000
Change in NCWC -19,291,000
EBIT 355,046,000
Tax Provision 76,067,000
Depreciation and Amortization 62,410,000
Capital Expenditure -40,938,000
Unlevered Free Cash Flow 273,636,408
Current Assets 779,827,000
Current Cash 184,807,000
Current Liabilities 476,754,000
Current Debt 34,272,000
Non-Cash Working Capital (NCWC) 152,538,000
Change in NCWC -33,822,000
EBIT 289,523,000
Tax Provision 62,783,000
Depreciation and Amortization 52,700,000
Capital Expenditure -45,536,000
Unlevered Free Cash Flow 191,238,923
Current Assets 704,697,000
Current Cash 100,929,000
Current Liabilities 444,260,000
Current Debt 26,852,000
Non-Cash Working Capital (NCWC) 186,360,000
Change in NCWC 70,190,000
EBIT 208,953,000
Tax Provision 46,072,000
Depreciation and Amortization 39,419,000
Capital Expenditure -52,504,000
Unlevered Free Cash Flow 212,819,034
Current Assets 511,592,000
Current Cash 56,521,000
Current Liabilities 351,401,000
Current Debt 12,500,000
Non-Cash Working Capital (NCWC) 116,170,000
Change in NCWC 29,925,000
EBIT 166,864,000
Tax Provision -30,093,000
Depreciation and Amortization 16,453,000
Capital Expenditure -25,308,000
Unlevered Free Cash Flow 187,934,000
Current Assets 526,553,000
Current Cash 134,375,000
Current Liabilities 325,933,000
Current Debt 20,000,000
Non-Cash Working Capital (NCWC) 86,245,000
Change in NCWC 30,412,000
EBIT 121,604,000
Tax Provision 43,667,000
Depreciation and Amortization 12,011,000
Capital Expenditure -14,156,000
Unlevered Free Cash Flow 104,201,912

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.