DCF Tool

CVLT

Commvault Systems Inc – Data Processing, Hosting, and Related Services
commvault’s data protection and information management solutions help companies protect, access and use all of the their data, anywhere and anytime as a powerful strategic asset.
Analysis Results
Intrinsic Value $345.19
Latest Price $95.73
Relative Value 72% undervalued
Thoughts on this result? Let us know.
Ad
Cash Flow (Billions)
Analysis Parameters
%
%
%
New Ticker
Ad
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 72.2%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 8.4%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 72.2%, 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)
2024 0.15 0.139
2025 0.259 0.22
2026 0.446 0.35
2027 0.769 0.556
2028 1.32 0.884
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 21.0 billion. This corresponds to a present value of 13.0 billion.

Intrinsic Value Per Share

The total present value of the projected cash flows is 2.15 billion. Adding in the terminal value gives a total present value of 15.1 billion.

There are presently 43.8 million outstanding shares, so the intrinsic value per share is 345.19.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 550,914,000
Current Cash 287,778,000
Current Liabilities 410,076,000
Current Debt 0
Non-Cash Working Capital (NCWC) -146,940,000
Change in NCWC 30,550,000
EBIT 53,048,000
Tax Provision 20,412,000
Depreciation and Amortization 10,323,000
Capital Expenditure -3,241,000
Unlevered Free Cash Flow 90,680,000
Current Assets 484,081,000
Current Cash 267,507,000
Current Liabilities 394,064,000
Current Debt 0
Non-Cash Working Capital (NCWC) -177,490,000
Change in NCWC -14,651,000
EBIT 47,758,000
Tax Provision 9,790,000
Depreciation and Amortization 10,950,000
Capital Expenditure -3,911,000
Unlevered Free Cash Flow 29,376,413
Current Assets 607,600,000
Current Cash 397,237,000
Current Liabilities 373,202,000
Current Debt 0
Non-Cash Working Capital (NCWC) -162,839,000
Change in NCWC -16,244,000
EBIT 41,908,000
Tax Provision 9,719,000
Depreciation and Amortization 15,878,000
Capital Expenditure -8,176,000
Unlevered Free Cash Flow 33,366,000
Current Assets 513,686,000
Current Cash 331,727,000
Current Liabilities 328,554,000
Current Debt 0
Non-Cash Working Capital (NCWC) -146,595,000
Change in NCWC -16,921,000
EBIT 57,000
Tax Provision -6,901,000
Depreciation and Amortization 17,065,000
Capital Expenditure -3,203,000
Unlevered Free Cash Flow -3,002,000
Current Assets 655,002,000
Current Cash 458,330,000
Current Liabilities 326,346,000
Current Debt 0
Non-Cash Working Capital (NCWC) -129,674,000
Change in NCWC 10,132,000
EBIT 19,673,000
Tax Provision 6,866,000
Depreciation and Amortization 12,060,000
Capital Expenditure -6,560,000
Unlevered Free Cash Flow 22,350,668
Current Assets 646,788,000
Current Cash 462,421,000
Current Liabilities 324,173,000
Current Debt 0
Non-Cash Working Capital (NCWC) -139,806,000
Change in NCWC -2,763,000
EBIT -4,567,000
Tax Provision 58,400,000
Depreciation and Amortization 11,785,000
Capital Expenditure -7,047,000
Unlevered Free Cash Flow -2,592,000
Current Assets 598,736,000
Current Cash 450,184,000
Current Liabilities 285,595,000
Current Debt 0
Non-Cash Working Capital (NCWC) -137,043,000
Change in NCWC -2,277,000
EBIT -729,000
Tax Provision -1,063,000
Depreciation and Amortization 10,232,000
Capital Expenditure -6,424,000
Unlevered Free Cash Flow 802,000
Current Assets 517,377,000
Current Cash 387,179,000
Current Liabilities 264,964,000
Current Debt 0
Non-Cash Working Capital (NCWC) -134,766,000
Change in NCWC -30,779,000
EBIT 1,916,000
Tax Provision 1,709,000
Depreciation and Amortization 11,179,000
Capital Expenditure -8,391,000
Unlevered Free Cash Flow -27,849,766
Current Assets 541,551,000
Current Cash 387,609,000
Current Liabilities 257,929,000
Current Debt 0
Non-Cash Working Capital (NCWC) -103,987,000
Change in NCWC -8,282,000
EBIT 38,784,000
Tax Provision 13,242,000
Depreciation and Amortization 9,046,000
Capital Expenditure -65,081,000
Unlevered Free Cash Flow -38,738,228
Current Assets 630,531,000
Current Cash 482,709,000
Current Liabilities 243,527,000
Current Debt 0
Non-Cash Working Capital (NCWC) -95,705,000
Change in NCWC -2,887,000
EBIT 100,420,000
Tax Provision 37,246,000
Depreciation and Amortization 6,207,000
Capital Expenditure -67,130,000
Unlevered Free Cash Flow -308,796
Current Assets 555,498,000
Current Cash 435,912,000
Current Liabilities 212,404,000
Current Debt 0
Non-Cash Working Capital (NCWC) -92,818,000
Change in NCWC -14,885,000
EBIT 80,895,000
Tax Provision 28,745,000
Depreciation and Amortization 4,939,000
Capital Expenditure -17,030,000
Unlevered Free Cash Flow 25,545,439

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.