DCF Tool


Dorman Products Inc – Motor Vehicle Gasoline Engine and Engine Parts Manufacturing
dorman is a leading supplier of original equipment dealer “exclusive” automotive and heavy duty replacement parts, automotive hardware and brake parts, and fasteners to the automotive and heavy vehicle aftermarkets; and a supplier of household hardware and organizational products to mass merchandisers. dorman designs, packages and markets over 150,000 different products manufactured to its specifications. dorman's products are sold primarily in the united states through automotive and heavy vehicle aftermarket retailers, national, regional and local warehouse distributors, and specialty markets and salvage yards. dorman continues to increase its international distribution of automotive replacement parts, with sales into canada, europe, the middle east, and the far east. dorman's products are sold under one of several sub-brands (dorman® autograde™, dorman® conduct-tite®, dorman® firststop™, dorman® hd solutions™, dorman® help!®, dorman® oe solutions™, dorman® hd solutions™, and dorman®
Analysis Results
Intrinsic Value $421.23
Latest Price $75.40
Relative Value 82% undervalued
Thoughts on this result? Let us know.
Cash Flow (Millions)
Analysis Parameters
New Ticker
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 18.3%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 6.8%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 18.3%, 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 (million) Present value (million)
2023 394 369
2024 466 409
2025 552 453
2026 652 501
2027 772 555
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 16300 million. This corresponds to a present value of 11000 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 2290 million. Adding in the terminal value gives a total present value of 13300 million.

There are presently 31.5 million outstanding shares, so the intrinsic value per share is 421.23.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 1,269,120,000
Current Cash 46,034,000
Current Liabilities 678,295,000
Current Debt 251,863,000
Non-Cash Working Capital (NCWC) 796,654,000
Change in NCWC 204,542,000
EBIT 171,048,000
Tax Provision 34,652,000
Depreciation and Amortization 44,677,000
Capital Expenditure -37,883,000
Unlevered Free Cash Flow 344,438,306
Current Assets 1,076,582,000
Current Cash 58,782,000
Current Liabilities 665,048,000
Current Debt 239,360,000
Non-Cash Working Capital (NCWC) 592,112,000
Change in NCWC 147,402,000
EBIT 171,551,000
Tax Provision 38,234,000
Depreciation and Amortization 35,193,000
Capital Expenditure -19,840,000
Unlevered Free Cash Flow 295,669,989
Current Assets 922,931,000
Current Cash 155,576,000
Current Liabilities 322,645,000
Current Debt 0
Non-Cash Working Capital (NCWC) 444,710,000
Change in NCWC -21,025,000
EBIT 133,373,000
Tax Provision 28,866,000
Depreciation and Amortization 32,307,000
Capital Expenditure -15,450,000
Unlevered Free Cash Flow 100,841,522
Current Assets 754,590,000
Current Cash 68,353,000
Current Liabilities 220,502,000
Current Debt 0
Non-Cash Working Capital (NCWC) 465,735,000
Change in NCWC 21,055,000
EBIT 105,828,000
Tax Provision 22,045,000
Depreciation and Amortization 25,915,000
Capital Expenditure -29,560,000
Unlevered Free Cash Flow 101,188,624
Current Assets 629,728,000
Current Cash 43,458,000
Current Liabilities 141,590,000
Current Debt 0
Non-Cash Working Capital (NCWC) 444,680,000
Change in NCWC 94,303,000
EBIT 171,143,000
Tax Provision 37,533,000
Depreciation and Amortization 28,391,000
Capital Expenditure -26,106,000
Unlevered Free Cash Flow 230,196,245
Current Assets 532,849,000
Current Cash 71,691,000
Current Liabilities 110,781,000
Current Debt 0
Non-Cash Working Capital (NCWC) 350,377,000
Change in NCWC 51,732,000
EBIT 176,240,000
Tax Provision 69,989,000
Depreciation and Amortization 22,224,000
Capital Expenditure -24,450,000
Unlevered Free Cash Flow 155,894,926
Current Assets 551,614,000
Current Cash 149,121,000
Current Liabilities 103,848,000
Current Debt 0
Non-Cash Working Capital (NCWC) 298,645,000
Change in NCWC -2,759,000
EBIT 168,601,000
Tax Provision 62,311,000
Depreciation and Amortization 18,907,000
Capital Expenditure -20,059,000
Unlevered Free Cash Flow 102,289,804
Current Assets 478,633,000
Current Cash 78,659,000
Current Liabilities 98,570,000
Current Debt 0
Non-Cash Working Capital (NCWC) 301,404,000
Change in NCWC -15,571,000
EBIT 146,157,000
Tax Provision 53,612,000
Depreciation and Amortization 16,186,000
Capital Expenditure -21,688,000
Unlevered Free Cash Flow 71,392,651
Current Assets 455,464,000
Current Cash 47,656,000
Current Liabilities 90,833,000
Current Debt 0
Non-Cash Working Capital (NCWC) 316,975,000
Change in NCWC 36,866,000
EBIT 140,734,000
Tax Provision 50,543,000
Depreciation and Amortization 12,658,000
Capital Expenditure -29,862,000
Unlevered Free Cash Flow 109,779,629
Current Assets 432,440,000
Current Cash 60,593,000
Current Liabilities 91,738,000
Current Debt 0
Non-Cash Working Capital (NCWC) 280,109,000
Change in NCWC 35,453,000
EBIT 127,939,000
Tax Provision 45,830,000
Depreciation and Amortization 10,159,000
Capital Expenditure -24,666,000
Unlevered Free Cash Flow 102,987,196
Current Assets 329,675,000
Current Cash 27,708,000
Current Liabilities 57,311,000
Current Debt 0
Non-Cash Working Capital (NCWC) 244,656,000
Change in NCWC 29,252,000
EBIT 104,231,000
Tax Provision 37,703,000
Depreciation and Amortization 8,225,000
Capital Expenditure -18,078,000
Unlevered Free Cash Flow 85,882,455

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.