DCF Tool

CSL

Carlisle Companies Inc. – Plastics Material and Resin Manufacturing
Carlisle Companies Incorporated is a diversified industrial company with a global portfolio of niche brands that delivers energy efficient and highly engineered products and solutions for its customers. Driven by its strategic plan, Vision 2025, Carlisle is committed to generating superior shareholder returns by investing in high-ROIC businesses and maintaining a balanced capital deployment approach, including investments in its businesses, strategic acquisitions, share repurchases and continued dividend increases. Carlisle is headquartered in Phoenix, Arizona. Its worldwide team of employees generated $4.2 billion in revenues in 2020.
Analysis Results
Intrinsic Value $565.45
Latest Price $315.59
Relative Value 44% undervalued
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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 16.9%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 7.4%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 16.9%, 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 1.03 0.955
2023 1.2 1.04
2024 1.4 1.13
2025 1.64 1.23
2026 1.91 1.34
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 36.1 billion. This corresponds to a present value of 23.6 billion.

Intrinsic Value Per Share

The total present value of the projected cash flows is 5.7 billion. Adding in the terminal value gives a total present value of 29.2 billion.

There are presently 51.7 million outstanding shares, so the intrinsic value per share is 565.45.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 2,150,900,000
Current Cash 324,400,000
Current Liabilities 1,169,500,000
Current Debt 352,000,000
Non-Cash Working Capital (NCWC) 1,009,000,000
Change in NCWC 347,000,000
EBIT 566,600,000
Tax Provision 95,500,000
Depreciation and Amortization 226,200,000
Capital Expenditure -134,800,000
Unlevered Free Cash Flow 892,854,300
Current Assets 2,209,300,000
Current Cash 902,200,000
Current Liabilities 646,200,000
Current Debt 1,100,000
Non-Cash Working Capital (NCWC) 662,000,000
Change in NCWC -90,000,000
EBIT 486,100,000
Tax Provision 77,100,000
Depreciation and Amortization 224,200,000
Capital Expenditure -95,500,000
Unlevered Free Cash Flow 431,407,749
Current Assets 1,752,000,000
Current Cash 351,200,000
Current Liabilities 899,000,000
Current Debt 250,200,000
Non-Cash Working Capital (NCWC) 752,000,000
Change in NCWC 94,500,000
EBIT 643,700,000
Tax Provision 121,600,000
Depreciation and Amortization 205,400,000
Capital Expenditure -88,900,000
Unlevered Free Cash Flow 723,213,488
Current Assets 2,056,700,000
Current Cash 803,600,000
Current Liabilities 595,600,000
Current Debt 0
Non-Cash Working Capital (NCWC) 657,500,000
Change in NCWC 51,100,000
EBIT 509,000,000
Tax Provision 87,300,000
Depreciation and Amortization 190,600,000
Capital Expenditure -120,700,000
Unlevered Free Cash Flow 530,346,041
Current Assets 1,644,600,000
Current Cash 379,600,000
Current Liabilities 658,600,000
Current Debt 0
Non-Cash Working Capital (NCWC) 606,400,000
Change in NCWC 150,000,000
EBIT 505,700,000
Tax Provision 102,900,000
Depreciation and Amortization 169,100,000
Capital Expenditure -159,900,000
Unlevered Free Cash Flow 553,758,329
Current Assets 1,355,200,000
Current Cash 385,300,000
Current Liabilities 513,500,000
Current Debt 0
Non-Cash Working Capital (NCWC) 456,400,000
Change in NCWC 3,600,000
EBIT 577,200,000
Tax Provision 159,700,000
Depreciation and Amortization 137,800,000
Capital Expenditure -108,800,000
Unlevered Free Cash Flow 385,247,405
Current Assets 1,319,500,000
Current Cash 410,700,000
Current Liabilities 605,900,000
Current Debt 149,900,000
Non-Cash Working Capital (NCWC) 452,800,000
Change in NCWC -35,700,000
EBIT 502,000,000
Tax Provision 148,300,000
Depreciation and Amortization 129,300,000
Capital Expenditure -72,100,000
Unlevered Free Cash Flow 364,392,070
Current Assets 1,611,500,000
Current Cash 730,800,000
Current Liabilities 392,200,000
Current Debt 0
Non-Cash Working Capital (NCWC) 488,500,000
Change in NCWC 84,400,000
EBIT 406,700,000
Tax Provision 124,400,000
Depreciation and Amortization 104,000,000
Capital Expenditure -118,800,000
Unlevered Free Cash Flow 341,778,649
Current Assets 1,535,000,000
Current Cash 754,500,000
Current Liabilities 376,400,000
Current Debt 0
Non-Cash Working Capital (NCWC) 404,100,000
Change in NCWC -218,100,000
EBIT 362,600,000
Tax Provision 97,800,000
Depreciation and Amortization 113,900,000
Capital Expenditure -110,800,000
Unlevered Free Cash Flow 41,106,666
Current Assets 1,205,300,000
Current Cash 112,500,000
Current Liabilities 470,600,000
Current Debt 0
Non-Cash Working Capital (NCWC) 622,200,000
Change in NCWC -61,800,000
EBIT 437,000,000
Tax Provision 131,500,000
Depreciation and Amortization 104,900,000
Capital Expenditure -140,400,000
Unlevered Free Cash Flow 195,603,961

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