DCF Tool

GDOT

Green Dot Corp. – Offices of Bank Holding Companies
Green Dot Corporation is a financial technology and registered bank holding company committed to transforming the way people and businesses manage and move money, and making financial wellbeing and empowerment more accessible for all.
Analysis Results
Intrinsic Value $23.61
Latest Price $18.47
Relative Value 22% undervalued
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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 3.3%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 9.7%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 3.3%, 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)
2022 98.2 89.5
2023 101 84.3
2024 105 79.3
2025 108 74.6
2026 112 70.2
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 1470 million. This corresponds to a present value of 843 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 398 million. Adding in the terminal value gives a total present value of 1240 million.

There are presently 52.6 million outstanding shares, so the intrinsic value per share is 23.61.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 3,943,923,000
Current Cash 0
Current Liabilities 3,643,064,000
Current Debt 0
Non-Cash Working Capital (NCWC) 300,859,000
Change in NCWC -26,972,000
EBIT 64,024,000
Tax Provision 16,220,000
Depreciation and Amortization 84,799,000
Capital Expenditure -57,432,000
Unlevered Free Cash Flow 48,116,499
Current Assets 3,405,403,000
Current Cash 0
Current Liabilities 3,077,572,000
Current Debt 0
Non-Cash Working Capital (NCWC) 327,831,000
Change in NCWC 77,137,000
EBIT 22,312,000
Tax Provision 4,964,000
Depreciation and Amortization 86,124,000
Capital Expenditure -59,035,000
Unlevered Free Cash Flow 122,595,776
Current Assets 1,730,828,000
Current Cash 0
Current Liabilities 1,480,134,000
Current Debt 0
Non-Cash Working Capital (NCWC) 250,694,000
Change in NCWC 9,488,000
EBIT 121,081,000
Tax Provision 21,184,000
Depreciation and Amortization 82,105,000
Capital Expenditure -78,214,000
Unlevered Free Cash Flow 113,276,000
Current Assets 1,578,540,000
Current Cash 0
Current Liabilities 1,337,334,000
Current Debt 0
Non-Cash Working Capital (NCWC) 241,206,000
Change in NCWC 154,492,000
EBIT 123,817,000
Tax Provision 5,114,000
Depreciation and Amortization 71,342,000
Capital Expenditure -61,030,000
Unlevered Free Cash Flow 283,507,000
Current Assets 1,481,395,000
Current Cash 0
Current Liabilities 1,394,681,000
Current Debt 0
Non-Cash Working Capital (NCWC) 86,714,000
Change in NCWC -54,003,000
EBIT 103,458,000
Tax Provision 17,571,000
Depreciation and Amortization 64,580,000
Capital Expenditure -44,142,000
Unlevered Free Cash Flow 52,322,000
Current Assets 1,181,235,000
Current Cash 0
Current Liabilities 1,040,518,000
Current Debt 0
Non-Cash Working Capital (NCWC) 140,717,000
Change in NCWC 15,674,000
EBIT 61,561,000
Tax Provision 19,961,000
Depreciation and Amortization 62,481,000
Capital Expenditure -43,273,000
Unlevered Free Cash Flow 76,482,000
Current Assets 1,114,003,000
Current Cash 0
Current Liabilities 988,960,000
Current Debt 0
Non-Cash Working Capital (NCWC) 125,043,000
Change in NCWC -3,316,000
EBIT 58,122,000
Tax Provision 19,707,000
Depreciation and Amortization 61,714,000
Capital Expenditure -47,837,000
Unlevered Free Cash Flow 48,976,000
Current Assets 1,091,514,000
Current Cash 0
Current Liabilities 963,155,000
Current Debt 0
Non-Cash Working Capital (NCWC) 128,359,000
Change in NCWC -188,352,000
EBIT 68,906,000
Tax Provision 26,213,000
Depreciation and Amortization 36,984,000
Capital Expenditure -39,338,000
Unlevered Free Cash Flow -148,013,000
Current Assets 755,560,000
Current Cash 0
Current Liabilities 438,849,000
Current Debt 0
Non-Cash Working Capital (NCWC) 316,711,000
Change in NCWC 89,804,000
EBIT 52,500,000
Tax Provision 18,460,000
Depreciation and Amortization 27,099,000
Capital Expenditure -35,742,000
Unlevered Free Cash Flow 115,201,000
Current Assets 606,314,000
Current Cash 0
Current Liabilities 379,407,000
Current Debt 0
Non-Cash Working Capital (NCWC) 226,907,000
Change in NCWC 30,937,000
EBIT 76,138,000
Tax Provision 28,919,000
Depreciation and Amortization 18,131,000
Capital Expenditure -40,441,000
Unlevered Free Cash Flow 55,846,000

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