DCF Tool

CPRI

Capri Holdings Ltd – All Other Miscellaneous Textile Product Mills
Capri Holdings Limited is a global fashion luxury group, consisting of iconic brands that are industry leaders in design, style and craftsmanship. Its brands cover the full spectrum of fashion luxury categories including women's and men's accessories, footwear and ready-to-wear as well as wearable technology, watches, jewelry, eyewear and a full line of fragrance products. The Company's goal is to continue to extend the global reach of its brands while ensuring that they maintain their independence and exclusive DNA.
Analysis Results
Intrinsic Value $14.93
Latest Price $41.68
Relative Value 179% overvalued
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Cash Flow (Billions)
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 -9.3%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 11.3%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of -9.3%, 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 0.315 0.283
2023 0.285 0.23
2024 0.259 0.188
2025 0.235 0.153
2026 0.213 0.125
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 2.33 billion. This corresponds to a present value of 1.23 billion.

Intrinsic Value Per Share

The total present value of the projected cash flows is 0.978 billion. Adding in the terminal value gives a total present value of 2.2 billion.

There are presently 148.0 million outstanding shares, so the intrinsic value per share is 14.93.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 1,546,000,000
Current Cash 232,000,000
Current Liabilities 1,621,000,000
Current Debt 123,000,000
Non-Cash Working Capital (NCWC) -184,000,000
Change in NCWC -252,000,000
EBIT 367,000,000
Tax Provision 66,000,000
Depreciation and Amortization 212,000,000
Capital Expenditure -111,000,000
Unlevered Free Cash Flow 150,000,000
Current Assets 1,894,000,000
Current Cash 592,000,000
Current Liabilities 1,401,000,000
Current Debt 167,000,000
Non-Cash Working Capital (NCWC) 68,000,000
Change in NCWC -577,000,000
EBIT 558,000,000
Tax Provision 10,000,000
Depreciation and Amortization 249,000,000
Capital Expenditure -223,000,000
Unlevered Free Cash Flow 7,000,000
Current Assets 1,729,000,000
Current Cash 172,000,000
Current Liabilities 1,542,000,000
Current Debt 630,000,000
Non-Cash Working Capital (NCWC) 645,000,000
Change in NCWC 306,300,000
EBIT 880,000,000
Tax Provision 79,000,000
Depreciation and Amortization 225,000,000
Capital Expenditure -184,000,000
Unlevered Free Cash Flow 1,115,351,529
Current Assets 1,262,100,000
Current Cash 163,100,000
Current Liabilities 960,300,000
Current Debt 200,000,000
Non-Cash Working Capital (NCWC) 338,700,000
Change in NCWC -165,600,000
EBIT 883,900,000
Tax Provision 149,700,000
Depreciation and Amortization 208,600,000
Capital Expenditure -123,600,000
Unlevered Free Cash Flow 624,923,308
Current Assets 1,164,700,000
Current Cash 227,700,000
Current Liabilities 565,800,000
Current Debt 133,100,000
Non-Cash Working Capital (NCWC) 504,300,000
Change in NCWC -28,000,000
EBIT 889,100,000
Tax Provision 137,100,000
Depreciation and Amortization 219,800,000
Capital Expenditure -170,300,000
Unlevered Free Cash Flow 733,580,525
Current Assets 1,669,800,000
Current Cash 702,000,000
Current Liabilities 435,500,000
Current Debt 0
Non-Cash Working Capital (NCWC) 532,300,000
Change in NCWC -176,128,000
EBIT 1,186,000,000
Tax Provision 334,600,000
Depreciation and Amortization 183,200,000
Capital Expenditure -380,600,000
Unlevered Free Cash Flow 473,961,721
Current Assets 2,017,431,000
Current Cash 978,922,000
Current Liabilities 330,081,000
Current Debt 0
Non-Cash Working Capital (NCWC) 708,428,000
Change in NCWC 194,774,000
EBIT 1,257,925,000
Tax Provision 374,800,000
Depreciation and Amortization 138,425,000
Capital Expenditure -385,433,000
Unlevered Free Cash Flow 830,263,658
Current Assets 1,777,169,000
Current Cash 955,145,000
Current Liabilities 308,370,000
Current Debt 0
Non-Cash Working Capital (NCWC) 513,654,000
Change in NCWC 161,224,000
EBIT 1,009,503,000
Tax Provision 346,162,000
Depreciation and Amortization 79,654,000
Capital Expenditure -213,560,000
Unlevered Free Cash Flow 690,021,399
Current Assets 989,189,000
Current Cash 472,511,000
Current Liabilities 164,248,000
Current Debt 0
Non-Cash Working Capital (NCWC) 352,430,000
Change in NCWC 137,053,000
EBIT 630,739,000
Tax Provision 229,525,000
Depreciation and Amortization 54,291,000
Capital Expenditure -129,867,000
Unlevered Free Cash Flow 461,369,028

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