DCF Tool

GLOB

Globant S.A. – Data Processing, Hosting, and Related Services
Globant is a digitally native company that helps organizations reinvent themselves to create a way forward and unleash their potential. It's the place where innovation, design and engineering meet scale.
Analysis Results
Intrinsic Value $42.51
Latest Price $171.82
Relative Value 304% 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 28.6%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 12.5%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 28.6%, 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 93.6 83.2
2023 120 95.1
2024 155 109
2025 199 124
2026 256 142
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 2490 million. This corresponds to a present value of 1230 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 553 million. Adding in the terminal value gives a total present value of 1780 million.

There are presently 41.9 million outstanding shares, so the intrinsic value per share is 42.51.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 819,600,000
Current Cash 460,385,000
Current Liabilities 386,299,000
Current Debt 36,222,000
Non-Cash Working Capital (NCWC) 9,138,000
Change in NCWC -38,873,000
EBIT 144,200,000
Tax Provision 28,497,000
Depreciation and Amortization 80,286,000
Capital Expenditure -77,634,000
Unlevered Free Cash Flow 75,065,891
Current Assets 535,599,000
Current Cash 298,223,000
Current Liabilities 205,630,000
Current Debt 16,265,000
Non-Cash Working Capital (NCWC) 48,011,000
Change in NCWC -20,385,000
EBIT 83,320,000
Tax Provision 22,307,000
Depreciation and Amortization 48,480,000
Capital Expenditure -53,462,000
Unlevered Free Cash Flow 33,664,943
Current Assets 276,451,000
Current Cash 82,501,000
Current Liabilities 146,191,000
Current Debt 20,637,000
Non-Cash Working Capital (NCWC) 68,396,000
Change in NCWC 34,510,000
EBIT 80,511,000
Tax Provision 15,017,000
Depreciation and Amortization 38,839,000
Capital Expenditure -31,992,000
Unlevered Free Cash Flow 104,353,895
Current Assets 213,030,000
Current Cash 86,241,000
Current Liabilities 92,903,000
Current Debt 0
Non-Cash Working Capital (NCWC) 33,886,000
Change in NCWC 6,627,000
EBIT 66,794,000
Tax Provision 15,868,000
Depreciation and Amortization 20,543,000
Capital Expenditure -28,882,000
Unlevered Free Cash Flow 49,371,588
Current Assets 155,980,000
Current Cash 60,672,000
Current Liabilities 74,060,000
Current Debt 6,011,000
Non-Cash Working Capital (NCWC) 27,259,000
Change in NCWC 8,102,000
EBIT 33,166,000
Tax Provision 8,081,000
Depreciation and Amortization 16,128,000
Capital Expenditure -28,052,000
Unlevered Free Cash Flow 22,390,532
Current Assets 133,826,000
Current Cash 59,887,000
Current Liabilities 54,999,000
Current Debt 217,000
Non-Cash Working Capital (NCWC) 19,157,000
Change in NCWC 196,000
EBIT 49,572,000
Tax Provision 14,327,000
Depreciation and Amortization 10,918,000
Capital Expenditure -24,034,000
Unlevered Free Cash Flow 22,501,129
Current Assets 127,802,000
Current Cash 62,380,000
Current Liabilities 46,741,000
Current Debt 280,000
Non-Cash Working Capital (NCWC) 18,961,000
Change in NCWC -4,044,000
EBIT 21,910,000
Tax Provision 18,420,000
Depreciation and Amortization 9,301,000
Capital Expenditure -17,817,000
Unlevered Free Cash Flow 1,284,808

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