DCF Tool

ENV

Envestnet Inc. – Software Publishers
Envestnet, Inc. is transforming the way financial advice and wellness are delivered. Its mission is to empower advisors and financial service providers with innovative technology, solutions, and intelligence to make financial wellness a reality for everyone. Over 106,000 advisors across more than 5,100 companies-including 17 of the 20 largest U.S. banks, 47 of the 50 largest wealth management and brokerage firms, over 500 of the largest RIAs, and hundreds of FinTech companies-leverage the Envestnet platform to grow their businesses and client relationships.
Analysis Results
Intrinsic Value $13.78
Latest Price $59.94
Relative Value 335% overvalued
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Cash Flow (Millions)
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 12.5%.

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 12.5%, 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 (million) Present value (million)
2022 25.4 23.9
2023 28.6 25.2
2024 32.2 26.6
2025 36.2 28.1
2026 40.8 29.7
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 917 million. This corresponds to a present value of 627 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 134 million. Adding in the terminal value gives a total present value of 761 million.

There are presently 55.2 million outstanding shares, so the intrinsic value per share is 13.78.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 567,276,000
Current Cash 429,279,000
Current Liabilities 288,723,000
Current Debt 0
Non-Cash Working Capital (NCWC) -150,726,000
Change in NCWC -34,991,000
EBIT 40,541,000
Tax Provision 7,667,000
Depreciation and Amortization 117,767,000
Capital Expenditure -88,901,000
Unlevered Free Cash Flow 19,150,156
Current Assets 505,199,000
Current Cash 384,565,000
Current Liabilities 236,369,000
Current Debt 0
Non-Cash Working Capital (NCWC) -115,735,000
Change in NCWC -11,943,000
EBIT 19,441,000
Tax Provision -5,401,000
Depreciation and Amortization 113,661,000
Capital Expenditure -66,996,000
Unlevered Free Cash Flow 54,163,000
Current Assets 182,503,000
Current Cash 82,505,000
Current Liabilities 203,790,000
Current Debt 0
Non-Cash Working Capital (NCWC) -103,792,000
Change in NCWC -17,768,000
EBIT -16,073,000
Tax Provision -30,893,000
Depreciation and Amortization 101,271,000
Capital Expenditure -53,943,000
Unlevered Free Cash Flow 13,487,000
Current Assets 380,906,000
Current Cash 289,345,000
Current Liabilities 343,296,000
Current Debt 165,711,000
Non-Cash Working Capital (NCWC) -86,024,000
Change in NCWC -16,661,000
EBIT 14,165,000
Tax Provision -13,172,000
Depreciation and Amortization 77,626,000
Capital Expenditure -44,592,000
Unlevered Free Cash Flow 30,538,000
Current Assets 131,107,000
Current Cash 60,115,000
Current Liabilities 140,355,000
Current Debt 0
Non-Cash Working Capital (NCWC) -69,363,000
Change in NCWC -11,827,000
EBIT 16,420,000
Tax Provision 1,591,000
Depreciation and Amortization 62,820,000
Capital Expenditure -27,569,000
Unlevered Free Cash Flow 39,844,000
Current Assets 113,084,000
Current Cash 52,592,000
Current Liabilities 155,954,000
Current Debt 37,926,000
Non-Cash Working Capital (NCWC) -57,536,000
Change in NCWC -8,010,000
EBIT -23,444,000
Tax Provision 15,077,000
Depreciation and Amortization 63,999,000
Capital Expenditure -22,576,000
Unlevered Free Cash Flow 9,969,000
Current Assets 113,649,000
Current Cash 51,718,000
Current Liabilities 111,457,000
Current Debt 0
Non-Cash Working Capital (NCWC) -49,526,000
Change in NCWC -17,087,000
EBIT 19,665,000
Tax Provision 4,552,000
Depreciation and Amortization 27,962,000
Capital Expenditure -14,716,000
Unlevered Free Cash Flow 5,864,600
Current Assets 241,995,000
Current Cash 209,754,000
Current Liabilities 64,680,000
Current Debt 0
Non-Cash Working Capital (NCWC) -32,439,000
Change in NCWC -8,881,000
EBIT 21,252,000
Tax Provision 8,528,000
Depreciation and Amortization 18,651,000
Capital Expenditure -9,559,000
Unlevered Free Cash Flow 13,410,524
Current Assets 79,407,000
Current Cash 49,942,000
Current Liabilities 53,023,000
Current Debt 0
Non-Cash Working Capital (NCWC) -23,558,000
Change in NCWC -8,753,000
EBIT 5,986,000
Tax Provision 2,052,000
Depreciation and Amortization 15,329,000
Capital Expenditure -9,268,000
Unlevered Free Cash Flow 1,143,567
Current Assets 43,761,000
Current Cash 29,983,000
Current Liabilities 28,583,000
Current Debt 0
Non-Cash Working Capital (NCWC) -14,805,000
Change in NCWC -11,709,000
EBIT 3,157,000
Tax Provision 2,603,000
Depreciation and Amortization 12,400,000
Capital Expenditure -7,188,000
Unlevered Free Cash Flow -6,018,510

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.