DCF Tool

INTU

Intuit Inc – Software Publishers
Intuit Inc. is an American business software company that specializes in financial software. The company is headquartered in Mountain View, California, and the CEO is Sasan Goodarzi.
Analysis Results
Intrinsic Value $564.54
Latest Price $574.32
Relative Value 2% overvalued
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Cash Flow (Billions)
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 16.5%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 4.2%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 16.5%, 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 (billion) Present value (billion)
2024 3.21 3.08
2025 3.74 3.44
2026 4.35 3.85
2027 5.07 4.3
2028 5.91 4.81
Terminal Value

Assuming the company was sold after the projection period at an exit multiple of 30, the terminal value of the company would be 177 billion. This corresponds to a present value of 139 billion.

Intrinsic Value Per Share

The total present value of the projected cash flows is 19.5 billion. Adding in the terminal value gives a total present value of 158 billion.

There are presently 280.0 million outstanding shares, so the intrinsic value per share is 564.54.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 5,557,000,000
Current Cash 3,662,000,000
Current Liabilities 3,790,000,000
Current Debt 0
Non-Cash Working Capital (NCWC) -1,895,000,000
Change in NCWC -530,000,000
EBIT 3,141,000,000
Tax Provision 605,000,000
Depreciation and Amortization 806,000,000
Capital Expenditure -260,000,000
Unlevered Free Cash Flow 2,521,233,857
Current Assets 5,047,000,000
Current Cash 3,281,000,000
Current Liabilities 3,630,000,000
Current Debt 499,000,000
Non-Cash Working Capital (NCWC) -1,365,000,000
Change in NCWC 3,000,000
EBIT 2,571,000,000
Tax Provision 476,000,000
Depreciation and Amortization 746,000,000
Capital Expenditure -229,000,000
Unlevered Free Cash Flow 2,609,569,630
Current Assets 5,157,000,000
Current Cash 3,870,000,000
Current Liabilities 2,655,000,000
Current Debt 0
Non-Cash Working Capital (NCWC) -1,368,000,000
Change in NCWC -107,000,000
EBIT 2,500,000,000
Tax Provision 494,000,000
Depreciation and Amortization 363,000,000
Capital Expenditure -125,000,000
Unlevered Free Cash Flow 2,147,823,161
Current Assets 7,980,000,000
Current Cash 7,050,000,000
Current Liabilities 3,529,000,000
Current Debt 1,338,000,000
Non-Cash Working Capital (NCWC) -1,261,000,000
Change in NCWC -199,000,000
EBIT 2,176,000,000
Tax Provision 372,000,000
Depreciation and Amortization 218,000,000
Capital Expenditure -137,000,000
Unlevered Free Cash Flow 1,689,723,384
Current Assets 3,594,000,000
Current Cash 2,740,000,000
Current Liabilities 1,966,000,000
Current Debt 50,000,000
Non-Cash Working Capital (NCWC) -1,062,000,000
Change in NCWC 316,000,000
EBIT 1,854,000,000
Tax Provision 324,000,000
Depreciation and Amortization 225,000,000
Capital Expenditure -155,000,000
Unlevered Free Cash Flow 1,920,650,717
Current Assets 2,404,000,000
Current Cash 1,716,000,000
Current Liabilities 2,116,000,000
Current Debt 50,000,000
Non-Cash Working Capital (NCWC) -1,378,000,000
Change in NCWC -122,000,000
EBIT 1,497,000,000
Tax Provision 292,000,000
Depreciation and Amortization 253,000,000
Capital Expenditure -124,000,000
Unlevered Free Cash Flow 1,213,165,668
Current Assets 1,415,000,000
Current Cash 777,000,000
Current Liabilities 1,944,000,000
Current Debt 50,000,000
Non-Cash Working Capital (NCWC) -1,256,000,000
Change in NCWC -51,000,000
EBIT 1,395,000,000
Tax Provision 396,000,000
Depreciation and Amortization 236,000,000
Capital Expenditure -230,000,000
Unlevered Free Cash Flow 945,888,807
Current Assets 1,614,000,000
Current Cash 1,080,000,000
Current Liabilities 2,251,000,000
Current Debt 512,000,000
Non-Cash Working Capital (NCWC) -1,205,000,000
Change in NCWC -324,000,000
EBIT 1,242,000,000
Tax Provision 397,000,000
Depreciation and Amortization 238,000,000
Capital Expenditure -522,000,000
Unlevered Free Cash Flow 224,129,675
Current Assets 2,560,000,000
Current Cash 1,697,000,000
Current Liabilities 1,744,000,000
Current Debt 0
Non-Cash Working Capital (NCWC) -881,000,000
Change in NCWC -167,000,000
EBIT 886,000,000
Tax Provision 299,000,000
Depreciation and Amortization 231,000,000
Capital Expenditure -261,000,000
Unlevered Free Cash Flow 316,929,775
Current Assets 2,621,000,000
Current Cash 1,914,000,000
Current Liabilities 1,421,000,000
Current Debt 0
Non-Cash Working Capital (NCWC) -714,000,000
Change in NCWC -169,000,000
EBIT 1,314,000,000
Tax Provision 453,000,000
Depreciation and Amortization 197,000,000
Capital Expenditure -119,000,000
Unlevered Free Cash Flow 770,000,000
Current Assets 2,396,000,000
Current Cash 1,661,000,000
Current Liabilities 1,280,000,000
Current Debt 0
Non-Cash Working Capital (NCWC) -545,000,000
Change in NCWC -59,000,000
EBIT 1,233,000,000
Tax Provision 387,000,000
Depreciation and Amortization 232,000,000
Capital Expenditure -209,000,000
Unlevered Free Cash Flow 802,643,801
Current Assets 1,523,000,000
Current Cash 744,000,000
Current Liabilities 1,265,000,000
Current Debt 0
Non-Cash Working Capital (NCWC) -486,000,000
Change in NCWC -14,000,000
EBIT 1,177,000,000
Tax Provision 384,000,000
Depreciation and Amortization 242,000,000
Capital Expenditure -145,000,000
Unlevered Free Cash Flow 867,325,803

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