DCF Tool

FND

Floor & Decor Holdings Inc – Home Centers
Floor & Decor is a multi-channel specialty retailer operating 128 warehouse-format stores and two design centers across 30 states at the end of the third quarter of fiscal 2020. The Company offers a broad assortment of in-stock hard-surface flooring, including tile, wood, laminate/luxury vinyl plank, and natural stone along with decorative and installation accessories, at everyday low prices. The Company was founded in 2000 and is headquartered in Atlanta, Georgia.
Analysis Results
Intrinsic Value $0.00
Latest Price $90.76
Relative Value 2806689% 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 -69.6%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 13.2%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of -69.6%, 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 0.276 0.244
2023 0.084 0.0655
2024 0.0256 0.0176
2025 0.00778 0.00473
2026 0.00237 0.00127
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 0.0215 million. This corresponds to a present value of 0.0102 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 0.333 million. Adding in the terminal value gives a total present value of 0.343 million.

There are presently 106.0 million outstanding shares, so the intrinsic value per share is 0.0.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 1,273,345,000
Current Cash 139,444,000
Current Liabilities 1,032,015,000
Current Debt 2,103,000
Non-Cash Working Capital (NCWC) 103,989,000
Change in NCWC 68,494,000
EBIT 338,992,000
Tax Provision 50,838,000
Depreciation and Amortization 118,196,000
Capital Expenditure -407,671,000
Unlevered Free Cash Flow 66,423,672
Current Assets 1,040,456,000
Current Cash 307,772,000
Current Liabilities 698,836,000
Current Debt 1,647,000
Non-Cash Working Capital (NCWC) 35,495,000
Change in NCWC -86,413,000
EBIT 214,579,000
Tax Provision 12,224,000
Depreciation and Amortization 91,640,000
Capital Expenditure -212,448,000
Unlevered Free Cash Flow -5,301,027
Current Assets 701,486,000
Current Cash 27,037,000
Current Liabilities 552,541,000
Current Debt 0
Non-Cash Working Capital (NCWC) 121,908,000
Change in NCWC -36,121,000
EBIT 159,181,000
Tax Provision -251,000
Depreciation and Amortization 74,001,000
Capital Expenditure -196,008,000
Unlevered Free Cash Flow 1,053,000
Current Assets 559,458,000
Current Cash 644,000
Current Liabilities 404,285,000
Current Debt 3,500,000
Non-Cash Working Capital (NCWC) 158,029,000
Change in NCWC 11,173,000
EBIT 131,301,000
Tax Provision 6,197,000
Depreciation and Amortization 51,992,000
Capital Expenditure -151,397,000
Unlevered Free Cash Flow 36,420,481
Current Assets 503,212,000
Current Cash 556,000
Current Liabilities 359,300,000
Current Debt 3,500,000
Non-Cash Working Capital (NCWC) 146,856,000
Change in NCWC 51,306,000
EBIT 117,771,000
Tax Provision -4,236,000
Depreciation and Amortization 38,062,000
Capital Expenditure -102,253,000
Unlevered Free Cash Flow 104,886,000

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