DCF Tool

ENTG

Entegris Inc – Semiconductor and Related Device Manufacturing
Entegris is a world-class supplier of advanced materials and process solutions for the semiconductor and other high-technology industries. Entegris is ISO 9001 certified and has manufacturing, customer service and/or research facilities in the United States, Canada, China, France, Germany, Israel, Japan, Malaysia, Singapore, South Korea and Taiwan.
Analysis Results
Intrinsic Value $720.81
Latest Price $107.22
Relative Value 85% 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 37.5%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 3.6%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 37.5%, 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)
2023 1.13 1.09
2024 1.55 1.44
2025 2.13 1.91
2026 2.93 2.54
2027 4.03 3.37
Terminal Value

Assuming the company was sold after the projection period at an exit multiple of 30, the terminal value of the company would be 121 billion. This corresponds to a present value of 97.5 billion.

Intrinsic Value Per Share

The total present value of the projected cash flows is 10.4 billion. Adding in the terminal value gives a total present value of 108 billion.

There are presently 150.0 million outstanding shares, so the intrinsic value per share is 720.81.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 2,335,185,000
Current Cash 561,559,000
Current Liabilities 761,931,000
Current Debt 151,965,000
Non-Cash Working Capital (NCWC) 1,163,660,000
Change in NCWC 631,856,000
EBIT 479,981,000
Tax Provision 38,160,000
Depreciation and Amortization 279,324,000
Capital Expenditure -466,192,000
Unlevered Free Cash Flow 850,838,860
Current Assets 1,313,370,000
Current Cash 402,565,000
Current Liabilities 379,001,000
Current Debt 0
Non-Cash Working Capital (NCWC) 531,804,000
Change in NCWC 181,066,000
EBIT 551,768,000
Tax Provision 69,950,000
Depreciation and Amortization 138,167,000
Capital Expenditure -210,626,000
Unlevered Free Cash Flow 579,811,223
Current Assets 1,234,257,000
Current Cash 580,893,000
Current Liabilities 302,626,000
Current Debt 0
Non-Cash Working Capital (NCWC) 350,738,000
Change in NCWC 30,685,000
EBIT 395,445,000
Tax Provision 59,318,000
Depreciation and Amortization 136,522,000
Capital Expenditure -131,752,000
Unlevered Free Cash Flow 364,690,947
Current Assets 932,397,000
Current Cash 351,911,000
Current Liabilities 264,433,000
Current Debt 4,000,000
Non-Cash Working Capital (NCWC) 320,053,000
Change in NCWC 38,445,000
EBIT 239,278,000
Tax Provision 63,189,000
Depreciation and Amortization 141,403,000
Capital Expenditure -112,355,000
Unlevered Free Cash Flow 259,231,980
Current Assets 1,029,338,000
Current Cash 482,062,000
Current Liabilities 269,668,000
Current Debt 4,000,000
Non-Cash Working Capital (NCWC) 281,608,000
Change in NCWC 40,379,000
EBIT 292,689,000
Tax Provision 13,677,000
Depreciation and Amortization 127,268,000
Capital Expenditure -110,153,000
Unlevered Free Cash Flow 334,449,493
Current Assets 1,057,608,000
Current Cash 625,408,000
Current Liabilities 290,971,000
Current Debt 100,000,000
Non-Cash Working Capital (NCWC) 241,229,000
Change in NCWC 9,058,000
EBIT 241,817,000
Tax Provision 99,665,000
Depreciation and Amortization 102,231,000
Capital Expenditure -93,597,000
Unlevered Free Cash Flow 129,045,291
Current Assets 800,131,000
Current Cash 406,389,000
Current Liabilities 261,571,000
Current Debt 100,000,000
Non-Cash Working Capital (NCWC) 232,171,000
Change in NCWC -1,035,000
EBIT 155,536,000
Tax Provision 22,852,000
Depreciation and Amortization 99,886,000
Capital Expenditure -65,260,000
Unlevered Free Cash Flow 159,507,514
Current Assets 710,762,000
Current Cash 352,006,000
Current Liabilities 175,550,000
Current Debt 50,000,000
Non-Cash Working Capital (NCWC) 233,206,000
Change in NCWC 24,371,000
EBIT 116,381,000
Tax Provision 10,202,000
Depreciation and Amortization 101,654,000
Capital Expenditure -71,977,000
Unlevered Free Cash Flow 157,309,163
Current Assets 765,655,000
Current Cash 394,300,000
Current Liabilities 262,520,000
Current Debt 100,000,000
Non-Cash Working Capital (NCWC) 208,835,000
Change in NCWC 78,541,000
EBIT 19,779,000
Tax Provision -21,572,000
Depreciation and Amortization 83,704,000
Capital Expenditure -57,733,000
Unlevered Free Cash Flow 124,291,000
Current Assets 612,305,000
Current Cash 384,426,000
Current Liabilities 97,585,000
Current Debt 0
Non-Cash Working Capital (NCWC) 130,294,000
Change in NCWC -5,353,000
EBIT 92,424,000
Tax Provision 21,669,000
Depreciation and Amortization 38,815,000
Capital Expenditure -60,360,000
Unlevered Free Cash Flow 44,706,459
Current Assets 579,324,000
Current Cash 350,414,000
Current Liabilities 93,263,000
Current Debt 0
Non-Cash Working Capital (NCWC) 135,647,000
Change in NCWC -1,165,000
EBIT 99,447,000
Tax Provision 30,881,000
Depreciation and Amortization 37,607,000
Capital Expenditure -49,929,000
Unlevered Free Cash Flow 55,159,217

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