DCF Tool

DIN

Dine Brands Global Inc – Lessors of Nonfinancial Intangible Assets (except Copyrighted Works)
Based in Glendale, California, Dine Brands Global, Inc., through its subsidiaries, franchises restaurants under both the Applebee's Neighborhood Grill + Bar and IHOP brands. With over 3,500 restaurants combined in 17 countries, Dine Brands is one of the largest full-service restaurant companies in the world.
Analysis Results
Intrinsic Value $112.24
Latest Price $69.62
Relative Value 38% undervalued
Thoughts on this result? Let us know.
Ad
Cash Flow (Millions)
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 -4.7%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 6.5%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of -4.7%, 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 106 99.7
2023 101 89.2
2024 96.5 79.9
2025 92.0 71.5
2026 87.7 64.0
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 1980 million. This corresponds to a present value of 1360 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 404 million. Adding in the terminal value gives a total present value of 1760 million.

There are presently 15.7 million outstanding shares, so the intrinsic value per share is 112.24.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 574,353,000
Current Cash 361,412,000
Current Liabilities 410,730,000
Current Debt 10,693,000
Non-Cash Working Capital (NCWC) -187,096,000
Change in NCWC -65,958,000
EBIT 196,154,000
Tax Provision 24,059,000
Depreciation and Amortization 39,885,000
Capital Expenditure -16,849,000
Unlevered Free Cash Flow 114,525,036
Current Assets 586,506,000
Current Cash 383,369,000
Current Liabilities 348,568,000
Current Debt 24,293,000
Non-Cash Working Capital (NCWC) -121,138,000
Change in NCWC -7,769,000
EBIT 97,585,000
Tax Provision -4,568,000
Depreciation and Amortization 42,829,000
Capital Expenditure -10,927,000
Unlevered Free Cash Flow 121,718,000
Current Assets 346,917,000
Current Cash 116,043,000
Current Liabilities 357,912,000
Current Debt 13,669,000
Non-Cash Working Capital (NCWC) -113,369,000
Change in NCWC -81,240,000
EBIT 213,899,000
Tax Provision 34,127,000
Depreciation and Amortization 42,493,000
Capital Expenditure -19,424,000
Unlevered Free Cash Flow 103,012,083
Current Assets 382,190,000
Current Cash 137,164,000
Current Liabilities 316,186,000
Current Debt 39,031,000
Non-Cash Working Capital (NCWC) -32,129,000
Change in NCWC -42,189,000
EBIT 176,299,000
Tax Provision 30,254,000
Depreciation and Amortization 32,175,000
Capital Expenditure -14,279,000
Unlevered Free Cash Flow 103,783,900
Current Assets 395,614,000
Current Cash 117,010,000
Current Liabilities 295,702,000
Current Debt 27,158,000
Non-Cash Working Capital (NCWC) 10,060,000
Change in NCWC 57,615,000
EBIT 165,958,000
Tax Provision -94,835,000
Depreciation and Amortization 30,648,000
Capital Expenditure -13,370,000
Unlevered Free Cash Flow 240,851,000
Current Assets 366,148,000
Current Cash 140,535,000
Current Liabilities 286,312,000
Current Debt 13,144,000
Non-Cash Working Capital (NCWC) -47,555,000
Change in NCWC 8,630,000
EBIT 220,502,000
Tax Provision 55,130,000
Depreciation and Amortization 30,606,000
Capital Expenditure -5,637,000
Unlevered Free Cash Flow 174,711,524
Current Assets 372,709,000
Current Cash 144,785,000
Current Liabilities 298,429,000
Current Debt 14,320,000
Non-Cash Working Capital (NCWC) -56,185,000
Change in NCWC -66,868,000
EBIT 233,578,000
Tax Provision 63,700,000
Depreciation and Amortization 32,840,000
Capital Expenditure -6,642,000
Unlevered Free Cash Flow 104,683,826
Current Assets 412,884,000
Current Cash 104,004,000
Current Liabilities 313,049,000
Current Debt 14,852,000
Non-Cash Working Capital (NCWC) 10,683,000
Change in NCWC 52,418,000
EBIT 217,142,000
Tax Provision 15,143,000
Depreciation and Amortization 34,745,000
Capital Expenditure -5,937,000
Unlevered Free Cash Flow 234,638,615
Current Assets 331,582,000
Current Cash 106,011,000
Current Liabilities 284,273,000
Current Debt 16,967,000
Non-Cash Working Capital (NCWC) -41,735,000
Change in NCWC -22,191,000
EBIT 213,824,000
Tax Provision 38,580,000
Depreciation and Amortization 35,355,000
Capital Expenditure -7,037,000
Unlevered Free Cash Flow 145,375,392
Current Assets 294,455,000
Current Cash 64,537,000
Current Liabilities 267,760,000
Current Debt 18,298,000
Non-Cash Working Capital (NCWC) -19,544,000
Change in NCWC 944,000
EBIT 216,436,000
Tax Provision 67,249,000
Depreciation and Amortization 39,538,000
Capital Expenditure -16,952,000
Unlevered Free Cash Flow 165,294,952

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.