DCF Tool


Clarivate Plc – Data Processing, Hosting, and Related Services
Clarivate™ is a global leader in providing solutions to accelerate the lifecycle of innovation. The company's bold mission is to help customers solve some of the world's most complex problems by providing actionable information and insights that reduce the time from new ideas to life-changing inventions in the areas of science and intellectual property. Clarivate helps customers discover, protect and commercialize their inventions using its trusted subscription and technology-based solutions coupled with deep domain expertise.
Analysis Results
Intrinsic Value $84.07
Latest Price $10.12
Relative Value 88% undervalued
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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 70.4%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 8.2%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 70.4%, 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 (billion) Present value (billion)
2022 0.561 0.518
2023 0.955 0.816
2024 1.63 1.29
2025 2.77 2.03
2026 4.73 3.19
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 78.2 billion. This corresponds to a present value of 48.8 billion.

Intrinsic Value Per Share

The total present value of the projected cash flows is 7.84 billion. Adding in the terminal value gives a total present value of 56.7 billion.

There are presently 674.0 million outstanding shares, so the intrinsic value per share is 84.07.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 1,637,238,000
Current Cash 430,879,000
Current Liabilities 1,901,974,000
Current Debt 30,577,000
Non-Cash Working Capital (NCWC) -665,038,000
Change in NCWC -160,379,000
EBIT 69,986,000
Tax Provision 12,298,000
Depreciation and Amortization 537,815,000
Capital Expenditure -118,543,000
Unlevered Free Cash Flow 328,879,000
Current Assets 1,147,564,000
Current Cash 257,730,000
Current Liabilities 1,423,093,000
Current Debt 28,600,000
Non-Cash Working Capital (NCWC) -504,659,000
Change in NCWC -279,607,000
EBIT -32,590,000
Tax Provision -2,698,000
Depreciation and Amortization 303,150,000
Capital Expenditure -107,713,000
Unlevered Free Cash Flow -116,760,000
Current Assets 493,076,000
Current Cash 76,130,000
Current Liabilities 650,998,000
Current Debt 9,000,000
Non-Cash Working Capital (NCWC) -225,052,000
Change in NCWC -24,720,000
EBIT 7,242,000
Tax Provision 10,201,000
Depreciation and Amortization 200,542,000
Capital Expenditure -69,836,000
Unlevered Free Cash Flow 113,228,000

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