DCF Tool

CMD

Cantel Medical Corp – Surgical and Medical Instrument Manufacturing
Analysis Results
Intrinsic Value $54.15
Latest Price $80.37
Relative Value 48% overvalued
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Cash Flow (Millions)
Analysis Parameters
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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 10.0%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 8.8%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 10.0%, 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)
2021 128 117
2022 140 119
2023 154 120
2024 170 121
2025 187 123
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 2800 million. This corresponds to a present value of 1690 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 600 million. Adding in the terminal value gives a total present value of 2290 million.

There are presently 42.3 million outstanding shares, so the intrinsic value per share is 54.15.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 646,626,000
Current Cash 277,871,000
Current Liabilities 179,496,000
Current Debt 7,375,000
Non-Cash Working Capital (NCWC) 196,634,000
Change in NCWC 30,773,000
EBIT 48,307,000
Tax Provision -6,756,000
Depreciation and Amortization 74,344,000
Capital Expenditure -33,796,000
Unlevered Free Cash Flow 119,628,000
Current Assets 351,796,000
Current Cash 44,535,000
Current Liabilities 151,400,000
Current Debt 10,000,000
Non-Cash Working Capital (NCWC) 165,861,000
Change in NCWC 46,498,000
EBIT 83,519,000
Tax Provision 20,277,000
Depreciation and Amortization 42,359,000
Capital Expenditure -95,438,000
Unlevered Free Cash Flow 54,453,437
Current Assets 338,243,000
Current Cash 94,097,000
Current Liabilities 134,783,000
Current Debt 10,000,000
Non-Cash Working Capital (NCWC) 119,363,000
Change in NCWC 5,355,000
EBIT 121,664,000
Tax Provision 26,472,000
Depreciation and Amortization 34,830,000
Capital Expenditure -37,698,000
Unlevered Free Cash Flow 96,743,909
Current Assets 257,371,000
Current Cash 36,584,000
Current Liabilities 106,779,000
Current Debt 0
Non-Cash Working Capital (NCWC) 114,008,000
Change in NCWC 15,968,000
EBIT 110,410,000
Tax Provision 34,855,000
Depreciation and Amortization 33,452,000
Capital Expenditure -27,065,000
Unlevered Free Cash Flow 96,539,528
Current Assets 222,742,000
Current Cash 28,367,000
Current Liabilities 96,335,000
Current Debt 0
Non-Cash Working Capital (NCWC) 98,040,000
Change in NCWC 12,023,000
EBIT 97,251,000
Tax Provision 33,978,000
Depreciation and Amortization 25,084,000
Capital Expenditure -18,889,000
Unlevered Free Cash Flow 80,290,044
Current Assets 188,361,000
Current Cash 31,720,000
Current Liabilities 70,624,000
Current Debt 0
Non-Cash Working Capital (NCWC) 86,017,000
Change in NCWC 20,388,000
EBIT 80,761,000
Tax Provision 28,238,000
Depreciation and Amortization 23,957,000
Capital Expenditure -12,760,000
Unlevered Free Cash Flow 82,414,261
Current Assets 163,909,000
Current Cash 31,781,000
Current Liabilities 66,499,000
Current Debt 0
Non-Cash Working Capital (NCWC) 65,629,000
Change in NCWC -1,804,000
EBIT 70,928,000
Tax Provision 25,346,000
Depreciation and Amortization 18,886,000
Capital Expenditure -13,541,000
Unlevered Free Cash Flow 48,267,063
Current Assets 150,660,000
Current Cash 34,076,000
Current Liabilities 59,151,000
Current Debt 10,000,000
Non-Cash Working Capital (NCWC) 67,433,000
Change in NCWC 8,868,000
EBIT 63,188,000
Tax Provision 21,115,000
Depreciation and Amortization 17,263,000
Capital Expenditure -6,745,000
Unlevered Free Cash Flow 60,467,517
Current Assets 133,892,000
Current Cash 30,186,000
Current Liabilities 55,141,000
Current Debt 10,000,000
Non-Cash Working Capital (NCWC) 58,565,000
Change in NCWC 9,062,000
EBIT 52,124,000
Tax Provision 16,532,000
Depreciation and Amortization 15,925,000
Capital Expenditure -5,502,000
Unlevered Free Cash Flow 53,607,496

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