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Celanese Corp – All Other Basic Organic Chemical Manufacturing
who is celanese? we’re engineers, scientists, operators and product developers. we’re innovators, advisers, designers and problem solvers. most importantly, we’re partners – in creating value for our customers with the solutions we offer and in improving the world through the actions of our colleagues. celanese is the chemistry inside innovation™ and we aspire to be the first-choice chemistry solution source for our customers. we know what you’re thinking – that’s a lot to promise and that’s a lot to do. well, we would agree with you, but we’re up for the challenge and we owe it to our customers, shareholders, and employees to deliver on our promise. what does celanese do? we produce products that make our lives a little easier, by helping customers to bring their inspired ideas and innovations to life. from the global production network of our acetyl chain, we provide materials that are critical to the global chemicals and paints and coatings industries. from our broad portfol
Analysis Results
Intrinsic Value $899.60
Latest Price $123.77
Relative Value 86% 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 17.5%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 6.5%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 17.5%, 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 2.79 2.62
2024 3.27 2.89
2025 3.85 3.18
2026 4.52 3.51
2027 5.31 3.87
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 120 billion. This corresponds to a present value of 81.9 billion.

Intrinsic Value Per Share

The total present value of the projected cash flows is 16.1 billion. Adding in the terminal value gives a total present value of 97.9 billion.

There are presently 109.0 million outstanding shares, so the intrinsic value per share is 899.6.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 6,611,000,000
Current Cash 1,508,000,000
Current Liabilities 4,068,000,000
Current Debt 1,306,000,000
Non-Cash Working Capital (NCWC) 2,341,000,000
Change in NCWC 794,000,000
EBIT 1,602,000,000
Tax Provision -489,000,000
Depreciation and Amortization 478,000,000
Capital Expenditure -543,000,000
Unlevered Free Cash Flow 2,331,000,000
Current Assets 3,807,000,000
Current Cash 546,000,000
Current Liabilities 2,505,000,000
Current Debt 791,000,000
Non-Cash Working Capital (NCWC) 1,547,000,000
Change in NCWC 749,000,000
EBIT 2,084,000,000
Tax Provision 330,000,000
Depreciation and Amortization 378,000,000
Capital Expenditure -467,000,000
Unlevered Free Cash Flow 2,438,074,733
Current Assets 3,763,000,000
Current Cash 1,488,000,000
Current Liabilities 1,973,000,000
Current Debt 496,000,000
Non-Cash Working Capital (NCWC) 798,000,000
Change in NCWC -206,000,000
EBIT 849,000,000
Tax Provision 247,000,000
Depreciation and Amortization 356,000,000
Capital Expenditure -364,000,000
Unlevered Free Cash Flow 541,840,071
Current Assets 2,765,000,000
Current Cash 503,000,000
Current Liabilities 1,754,000,000
Current Debt 496,000,000
Non-Cash Working Capital (NCWC) 1,004,000,000
Change in NCWC -182,000,000
EBIT 1,214,000,000
Tax Provision 124,000,000
Depreciation and Amortization 356,000,000
Capital Expenditure -370,000,000
Unlevered Free Cash Flow 865,635,627
Current Assets 2,874,000,000
Current Cash 470,000,000
Current Liabilities 1,779,000,000
Current Debt 561,000,000
Non-Cash Working Capital (NCWC) 1,186,000,000
Change in NCWC 235,000,000
EBIT 1,563,000,000
Tax Provision 292,000,000
Depreciation and Amortization 349,000,000
Capital Expenditure -337,000,000
Unlevered Free Cash Flow 1,507,750,993
Current Assets 2,792,000,000
Current Cash 608,000,000
Current Liabilities 1,559,000,000
Current Debt 326,000,000
Non-Cash Working Capital (NCWC) 951,000,000
Change in NCWC 106,000,000
EBIT 1,150,000,000
Tax Provision 213,000,000
Depreciation and Amortization 310,000,000
Capital Expenditure -267,000,000
Unlevered Free Cash Flow 1,071,139,534
Current Assets 2,472,000,000
Current Cash 668,000,000
Current Liabilities 1,077,000,000
Current Debt 118,000,000
Non-Cash Working Capital (NCWC) 845,000,000
Change in NCWC 92,000,000
EBIT 1,057,000,000
Tax Provision 122,000,000
Depreciation and Amortization 295,000,000
Capital Expenditure -246,000,000
Unlevered Free Cash Flow 1,072,801,941
Current Assets 2,787,000,000
Current Cash 997,000,000
Current Liabilities 1,550,000,000
Current Debt 513,000,000
Non-Cash Working Capital (NCWC) 753,000,000
Change in NCWC 68,000,000
EBIT 863,000,000
Tax Provision 201,000,000
Depreciation and Amortization 363,000,000
Capital Expenditure -232,000,000
Unlevered Free Cash Flow 706,543,032
Current Assets 2,698,000,000
Current Cash 812,000,000
Current Liabilities 1,338,000,000
Current Debt 137,000,000
Non-Cash Working Capital (NCWC) 685,000,000
Change in NCWC -104,000,000
EBIT 998,000,000
Tax Provision 314,000,000
Depreciation and Amortization 298,000,000
Capital Expenditure -678,000,000
Unlevered Free Cash Flow 180,979,808
Current Assets 3,182,000,000
Current Cash 1,025,000,000
Current Liabilities 1,545,000,000
Current Debt 177,000,000
Non-Cash Working Capital (NCWC) 789,000,000
Change in NCWC 149,000,000
EBIT 1,117,000,000
Tax Provision 508,000,000
Depreciation and Amortization 319,000,000
Capital Expenditure -377,000,000
Unlevered Free Cash Flow 855,336,233
Current Assets 2,839,000,000
Current Cash 1,012,000,000
Current Liabilities 1,355,000,000
Current Debt 168,000,000
Non-Cash Working Capital (NCWC) 640,000,000
Change in NCWC -76,000,000
EBIT 774,000,000
Tax Provision 48,000,000
Depreciation and Amortization 320,000,000
Capital Expenditure -410,000,000
Unlevered Free Cash Flow 551,452,054

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