DCF Tool

CRL

Charles River Laboratories International Inc. – Research and Development in Biotechnology
Charles River provides essential products and services to help pharmaceutical and biotechnology companies, government agencies and leading academic institutions around the globe accelerate their research and drug development efforts. Our dedicated employees are focused on providing clients with exactly what they need to improve and expedite the discovery, early-stage development and safe manufacture of new therapies for the patients who need them.
Analysis Results
Intrinsic Value $141.07
Latest Price $230.21
Relative Value 63% 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)
2022 402 370
2023 442 373
2024 487 377
2025 535 381
2026 589 385
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 8780 million. This corresponds to a present value of 5280 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 1890 million. Adding in the terminal value gives a total present value of 7170 million.

There are presently 50.8 million outstanding shares, so the intrinsic value per share is 141.07.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 1,274,095,000
Current Cash 242,277,000
Current Liabilities 1,033,185,000
Current Debt 2,795,000
Non-Cash Working Capital (NCWC) 1,428,000
Change in NCWC -180,718,000
EBIT 589,862,000
Tax Provision 81,873,000
Depreciation and Amortization 265,540,000
Capital Expenditure -228,772,000
Unlevered Free Cash Flow 345,448,578
Current Assets 1,201,131,000
Current Cash 229,448,000
Current Liabilities 839,751,000
Current Debt 50,214,000
Non-Cash Working Capital (NCWC) 182,146,000
Change in NCWC 71,412,000
EBIT 432,729,000
Tax Provision 81,808,000
Depreciation and Amortization 234,924,000
Capital Expenditure -166,560,000
Unlevered Free Cash Flow 493,329,009
Current Assets 1,021,325,000
Current Cash 238,955,000
Current Liabilities 710,181,000
Current Debt 38,545,000
Non-Cash Working Capital (NCWC) 110,734,000
Change in NCWC -63,969,000
EBIT 351,151,000
Tax Provision 50,023,000
Depreciation and Amortization 198,095,000
Capital Expenditure -140,514,000
Unlevered Free Cash Flow 286,997,295
Current Assets 897,836,000
Current Cash 196,327,000
Current Liabilities 558,222,000
Current Debt 31,416,000
Non-Cash Working Capital (NCWC) 174,703,000
Change in NCWC -27,133,000
EBIT 331,383,000
Tax Provision 54,463,000
Depreciation and Amortization 161,779,000
Capital Expenditure -140,054,000
Unlevered Free Cash Flow 261,902,122
Current Assets 826,625,000
Current Cash 192,283,000
Current Liabilities 463,504,000
Current Debt 30,998,000
Non-Cash Working Capital (NCWC) 201,836,000
Change in NCWC 68,681,000
EBIT 310,398,000
Tax Provision 171,369,000
Depreciation and Amortization 131,159,000
Capital Expenditure -82,431,000
Unlevered Free Cash Flow 248,680,213
Current Assets 656,832,000
Current Cash 121,397,000
Current Liabilities 429,593,000
Current Debt 27,313,000
Non-Cash Working Capital (NCWC) 133,155,000
Change in NCWC 7,112,000
EBIT 237,419,000
Tax Provision 66,835,000
Depreciation and Amortization 126,658,000
Capital Expenditure -55,288,000
Unlevered Free Cash Flow 244,719,286
Current Assets 559,234,000
Current Cash 138,463,000
Current Liabilities 311,761,000
Current Debt 17,033,000
Non-Cash Working Capital (NCWC) 126,043,000
Change in NCWC -56,566,000
EBIT 210,249,000
Tax Provision 43,391,000
Depreciation and Amortization 94,881,000
Capital Expenditure -63,252,000
Unlevered Free Cash Flow 138,630,284
Current Assets 606,898,000
Current Cash 160,023,000
Current Liabilities 296,170,000
Current Debt 31,904,000
Non-Cash Working Capital (NCWC) 182,609,000
Change in NCWC 22,741,000
EBIT 186,970,000
Tax Provision 47,671,000
Depreciation and Amortization 96,445,000
Capital Expenditure -56,925,000
Unlevered Free Cash Flow 199,043,512
Current Assets 552,550,000
Current Cash 167,085,000
Current Liabilities 247,034,000
Current Debt 21,437,000
Non-Cash Working Capital (NCWC) 159,868,000
Change in NCWC -6,055,000
EBIT 161,467,000
Tax Provision 32,911,000
Depreciation and Amortization 96,636,000
Capital Expenditure -39,154,000
Unlevered Free Cash Flow 174,477,491
Current Assets 485,252,000
Current Cash 116,466,000
Current Liabilities 342,247,000
Current Debt 139,384,000
Non-Cash Working Capital (NCWC) 165,923,000
Change in NCWC 16,383,000
EBIT 168,695,000
Tax Provision 27,628,000
Depreciation and Amortization 81,275,000
Capital Expenditure -47,534,000
Unlevered Free Cash Flow 182,897,233

This analysis is provided for informational purposes only and does not constitute financial or investing advice. For more information on the advantages and limitations of DCF analysis see background. This information is provided on an "as is" basis. No warranty, expressed or implied, is made regarding accuracy, adequacy, completeness, legality, reliability or usefulness of any information. By using this site you agree that under no circumstances shall Valuation Tools LLC be held liable for any loss or damage caused by information obtained from this website including any articles, data, videos, its social media accounts, or any other materials.