DCF Tool

EPAC

Enerpac Tool Group Corp – Industrial Valve Manufacturing
Enerpac Tool Group Corp. is a premier industrial tools and services company serving a broad and diverse set of customers in more than 100 countries. The Company's businesses are global leaders in high pressure hydraulic tools, controlled force products and solutions for precise positioning of heavy loads that help customers safely and reliably tackle some of the most challenging jobs around the world. The Company was founded in 1910 and is headquartered in Menomonee Falls, Wisconsin.
Analysis Results
Intrinsic Value $10.36
Latest Price $23.70
Relative Value 129% 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 -13.1%.

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 -13.1%, 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 52.0 48.6
2024 45.1 39.5
2025 39.2 32.2
2026 34.0 26.1
2027 29.6 21.3
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 626 million. This corresponds to a present value of 421 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 168 million. Adding in the terminal value gives a total present value of 589 million.

There are presently 56.9 million outstanding shares, so the intrinsic value per share is 10.36.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 342,380,000
Current Cash 120,699,000
Current Liabilities 153,188,000
Current Debt 4,000,000
Non-Cash Working Capital (NCWC) 72,493,000
Change in NCWC -9,826,000
EBIT 41,208,000
Tax Provision 4,401,000
Depreciation and Amortization 19,600,000
Capital Expenditure -8,417,000
Unlevered Free Cash Flow 35,005,963
Current Assets 357,435,000
Current Cash 140,352,000
Current Liabilities 134,764,000
Current Debt 0
Non-Cash Working Capital (NCWC) 82,319,000
Change in NCWC -1,121,000
EBIT 59,703,000
Tax Provision 3,763,000
Depreciation and Amortization 21,611,000
Capital Expenditure -12,019,000
Unlevered Free Cash Flow 63,065,133
Current Assets 341,132,000
Current Cash 152,170,000
Current Liabilities 105,522,000
Current Debt 0
Non-Cash Working Capital (NCWC) 83,440,000
Change in NCWC -142,833,000
EBIT 28,357,000
Tax Provision 2,292,000
Depreciation and Amortization 20,720,000
Capital Expenditure -12,053,000
Unlevered Free Cash Flow -114,089,576
Current Assets 730,325,000
Current Cash 211,151,000
Current Liabilities 300,401,000
Current Debt 7,500,000
Non-Cash Working Capital (NCWC) 226,273,000
Change in NCWC 116,824,000
EBIT 74,499,000
Tax Provision 10,657,000
Depreciation and Amortization 20,217,000
Capital Expenditure -14,923,000
Unlevered Free Cash Flow 154,214,957
Current Assets 660,900,000
Current Cash 250,490,000
Current Liabilities 330,961,000
Current Debt 30,000,000
Non-Cash Working Capital (NCWC) 109,449,000
Change in NCWC 41,028,000
EBIT 103,251,000
Tax Provision 8,976,000
Depreciation and Amortization 40,707,000
Capital Expenditure -20,870,000
Unlevered Free Cash Flow 164,116,000
Current Assets 646,926,000
Current Cash 229,571,000
Current Liabilities 378,934,000
Current Debt 30,000,000
Non-Cash Working Capital (NCWC) 68,421,000
Change in NCWC -71,465,000
EBIT 81,755,000
Tax Provision -16,478,000
Depreciation and Amortization 43,110,000
Capital Expenditure -28,195,000
Unlevered Free Cash Flow 25,205,000
Current Assets 542,652,000
Current Cash 179,604,000
Current Liabilities 241,912,000
Current Debt 18,750,000
Non-Cash Working Capital (NCWC) 139,886,000
Change in NCWC -20,570,000
EBIT 105,957,000
Tax Provision -25,170,000
Depreciation and Amortization 47,777,000
Capital Expenditure -20,209,000
Unlevered Free Cash Flow 112,955,000
Current Assets 560,389,000
Current Cash 168,846,000
Current Liabilities 235,056,000
Current Debt 3,969,000
Non-Cash Working Capital (NCWC) 160,456,000
Change in NCWC 21,099,000
EBIT 137,907,000
Tax Provision 5,519,000
Depreciation and Amortization 53,239,000
Capital Expenditure -22,516,000
Unlevered Free Cash Flow 159,753,468
Current Assets 542,990,000
Current Cash 109,012,000
Current Liabilities 299,121,000
Current Debt 4,500,000
Non-Cash Working Capital (NCWC) 139,357,000
Change in NCWC -220,055,000
EBIT 189,613,000
Tax Provision 32,573,000
Depreciation and Amortization 60,635,000
Capital Expenditure -41,857,000
Unlevered Free Cash Flow -47,154,468
Current Assets 785,240,000
Current Cash 103,986,000
Current Liabilities 321,842,000
Current Debt 0
Non-Cash Working Capital (NCWC) 359,412,000
Change in NCWC 177,821,000
EBIT 190,145,000
Tax Provision 15,372,000
Depreciation and Amortization 53,902,000
Capital Expenditure -23,668,000
Unlevered Free Cash Flow 380,262,430
Current Assets 561,281,000
Current Cash 68,184,000
Current Liabilities 319,006,000
Current Debt 7,500,000
Non-Cash Working Capital (NCWC) 181,591,000
Change in NCWC 6,941,000
EBIT 235,222,000
Tax Provision 33,024,000
Depreciation and Amortization 54,263,000
Capital Expenditure -22,740,000
Unlevered Free Cash Flow 209,121,848

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