DCF Tool


Cars.com – Software Publishers
cars.com is a leading automotive digital marketing company offering advertisers the opportunity to reach more than 18 million in-market car shoppers each month. through data-driven insights we move the industry forward, helping local and national partners align with modern car shopping behavior. advertiser customers gain access to a variety of innovative online and mobile marketing solutions that help them connect with and influence consumers everywhere they are shopping.
Analysis Results
Intrinsic Value $21.93
Latest Price $18.46
Relative Value 16% undervalued
Thoughts on this result? Let us know.
Cash Flow (Millions)
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 -11.9%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 4.7%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of -11.9%, 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 (million) Present value (million)
2023 84.2 80.4
2024 74.2 67.7
2025 65.4 57.0
2026 57.6 48.0
2027 50.8 40.4
Terminal Value

Assuming the company was sold after the projection period at an exit multiple of 30, the terminal value of the company would be 1520 million. This corresponds to a present value of 1160 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 294 million. Adding in the terminal value gives a total present value of 1450 million.

There are presently 66.2 million outstanding shares, so the intrinsic value per share is 21.93.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 148,627,000
Current Cash 31,715,000
Current Liabilities 106,012,000
Current Debt 14,134,000
Non-Cash Working Capital (NCWC) 25,034,000
Change in NCWC 2,015,000
EBIT 66,036,000
Tax Provision 5,370,000
Depreciation and Amortization 94,394,000
Capital Expenditure -19,714,000
Unlevered Free Cash Flow 127,023,464
Current Assets 147,437,000
Current Cash 39,069,000
Current Liabilities 94,290,000
Current Debt 8,941,000
Non-Cash Working Capital (NCWC) 23,019,000
Change in NCWC -4,731,000
EBIT 48,338,000
Tax Provision 1,764,000
Depreciation and Amortization 101,932,000
Capital Expenditure -19,192,000
Unlevered Free Cash Flow 117,355,306
Current Assets 178,081,000
Current Cash 67,719,000
Current Liabilities 90,368,000
Current Debt 7,756,000
Non-Cash Working Capital (NCWC) 27,750,000
Change in NCWC -13,726,000
EBIT 18,558,000
Tax Provision -119,289,000
Depreciation and Amortization 113,276,000
Capital Expenditure -16,712,000
Unlevered Free Cash Flow 101,396,000
Current Assets 122,440,000
Current Cash 13,549,000
Current Liabilities 98,806,000
Current Debt 31,391,000
Non-Cash Working Capital (NCWC) 41,476,000
Change in NCWC -3,141,000
EBIT 15,403,000
Tax Provision -29,955,000
Depreciation and Amortization 116,877,000
Capital Expenditure -21,257,000
Unlevered Free Cash Flow 107,882,000
Current Assets 153,937,000
Current Cash 25,463,000
Current Liabilities 110,710,000
Current Debt 26,853,000
Non-Cash Working Capital (NCWC) 44,617,000
Change in NCWC -8,468,000
EBIT 83,924,000
Tax Provision 18,120,000
Depreciation and Amortization 103,810,000
Capital Expenditure -14,233,000
Unlevered Free Cash Flow 138,320,728
Current Assets 142,639,000
Current Cash 20,563,000
Current Liabilities 90,149,000
Current Debt 21,158,000
Non-Cash Working Capital (NCWC) 53,085,000
Change in NCWC 13,423,000
EBIT 134,256,000
Tax Provision -102,281,000
Depreciation and Amortization 88,639,000
Capital Expenditure -32,774,000
Unlevered Free Cash Flow 203,544,000
Current Assets 119,541,000
Current Cash 8,896,000
Current Liabilities 70,983,000
Current Debt 0
Non-Cash Working Capital (NCWC) 39,662,000
Change in NCWC 29,615,000
EBIT 176,650,000
Tax Provision 59,965,000
Depreciation and Amortization 83,106,000
Capital Expenditure -9,701,000
Unlevered Free Cash Flow 212,689,593

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