DCF Tool


Columbus Mckinnon Corp. – Iron and Steel Forging
columbus mckinnon manufactures a broad line of material handling products for use in a wide range of markets around the world. primary products include hoists, lifting chain, overhead crane systems and below-the-hook attachments. the company has a rich 135-year history, and many of the brands are the most recognized in the world. products from columbus mckinnon are used to lift, position, and secure loads in hundreds of industries including fabrication, food processing, mining, forestry, entertainment, trucking, utility, and defense – to name only a few.
Analysis Results
Intrinsic Value $212.91
Latest Price $36.08
Relative Value 83% undervalued
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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 13.4%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 4.1%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 13.4%, 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 (million) Present value (million)
2024 137 131
2025 155 143
2026 176 156
2027 200 170
2028 227 185
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 6800 million. This corresponds to a present value of 5330 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 786 million. Adding in the terminal value gives a total present value of 6120 million.

There are presently 28.7 million outstanding shares, so the intrinsic value per share is 212.91.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 496,240,000
Current Cash 133,176,000
Current Liabilities 241,657,000
Current Debt 40,604,000
Non-Cash Working Capital (NCWC) 162,011,000
Change in NCWC 19,880,000
EBIT 97,841,000
Tax Provision 26,046,000
Depreciation and Amortization 41,947,000
Capital Expenditure -12,632,000
Unlevered Free Cash Flow 112,818,253
Current Assets 466,589,000
Current Cash 115,390,000
Current Liabilities 249,619,000
Current Debt 40,551,000
Non-Cash Working Capital (NCWC) 142,131,000
Change in NCWC 81,825,000
EBIT 73,781,000
Tax Provision 8,786,000
Depreciation and Amortization 41,924,000
Capital Expenditure -13,104,000
Unlevered Free Cash Flow 167,564,951
Current Assets 441,842,000
Current Cash 202,127,000
Current Liabilities 183,859,000
Current Debt 4,450,000
Non-Cash Working Capital (NCWC) 60,306,000
Change in NCWC -57,116,000
EBIT 42,255,000
Tax Provision 970,000
Depreciation and Amortization 28,153,000
Capital Expenditure -12,300,000
Unlevered Free Cash Flow -3,075,819
Current Assets 382,746,000
Current Cash 114,450,000
Current Liabilities 155,324,000
Current Debt 4,450,000
Non-Cash Working Capital (NCWC) 117,422,000
Change in NCWC -27,795,000
EBIT 90,000,000
Tax Provision 17,484,000
Depreciation and Amortization 29,126,000
Capital Expenditure -9,432,000
Unlevered Free Cash Flow 61,504,474
Current Assets 362,588,000
Current Cash 71,093,000
Current Liabilities 211,278,000
Current Debt 65,000,000
Non-Cash Working Capital (NCWC) 145,217,000
Change in NCWC -5,124,000
EBIT 95,114,000
Tax Provision 10,321,000
Depreciation and Amortization 32,675,000
Capital Expenditure -12,288,000
Unlevered Free Cash Flow 91,819,179
Current Assets 360,295,000
Current Cash 63,021,000
Current Liabilities 206,997,000
Current Debt 60,064,000
Non-Cash Working Capital (NCWC) 150,341,000
Change in NCWC 25,373,000
EBIT 70,099,000
Tax Provision 27,620,000
Depreciation and Amortization 36,136,000
Capital Expenditure -14,515,000
Unlevered Free Cash Flow 78,124,812
Current Assets 340,950,000
Current Cash 77,591,000
Current Liabilities 190,959,000
Current Debt 52,568,000
Non-Cash Working Capital (NCWC) 124,968,000
Change in NCWC -6,887,000
EBIT 27,098,000
Tax Provision 4,043,000
Depreciation and Amortization 25,162,000
Capital Expenditure -14,368,000
Unlevered Free Cash Flow 22,594,988
Current Assets 272,729,000
Current Cash 51,603,000
Current Liabilities 132,517,000
Current Debt 43,246,000
Non-Cash Working Capital (NCWC) 131,855,000
Change in NCWC 4,551,000
EBIT 40,570,000
Tax Provision 12,045,000
Depreciation and Amortization 20,531,000
Capital Expenditure -22,320,000
Unlevered Free Cash Flow 27,879,633
Current Assets 274,029,000
Current Cash 63,056,000
Current Liabilities 96,961,000
Current Debt 13,292,000
Non-Cash Working Capital (NCWC) 127,304,000
Change in NCWC 768,000
EBIT 54,648,000
Tax Provision 8,825,000
Depreciation and Amortization 14,562,000
Capital Expenditure -17,243,000
Unlevered Free Cash Flow 39,344,229
Current Assets 326,552,000
Current Cash 112,309,000
Current Liabilities 89,295,000
Current Debt 1,588,000
Non-Cash Working Capital (NCWC) 126,536,000
Change in NCWC 17,431,000
EBIT 54,350,000
Tax Provision 12,301,000
Depreciation and Amortization 13,380,000
Capital Expenditure -20,846,000
Unlevered Free Cash Flow 48,665,935
Current Assets 313,978,000
Current Cash 121,660,000
Current Liabilities 84,237,000
Current Debt 1,024,000
Non-Cash Working Capital (NCWC) 109,105,000
Change in NCWC 4,663,000
EBIT 54,371,000
Tax Provision -35,674,000
Depreciation and Amortization 12,115,000
Capital Expenditure -14,879,000
Unlevered Free Cash Flow 56,270,000

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