DCF Tool

JACK

Jack In The Box, Inc. – Food Service Contractors
Jack in the Box Inc., based in San Diego, is a restaurant company that operates and franchises Jack in the Box® restaurants, one of the nation's largest hamburger chains, with more than 2,200 restaurants in 21 states and Guam.
Analysis Results
Intrinsic Value $375.45
Latest Price $71.18
Relative Value 81% 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 9.0%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 5.4%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 9.0%, 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 220 208
2023 239 216
2024 261 223
2025 284 231
2026 310 238
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 9300 million. This corresponds to a present value of 6790 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 1120 million. Adding in the terminal value gives a total present value of 7900 million.

There are presently 21.0 million outstanding shares, so the intrinsic value per share is 375.45.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 337,916,000
Current Cash 110,692,000
Current Liabilities 658,132,000
Current Debt 1,788,000
Non-Cash Working Capital (NCWC) -429,120,000
Change in NCWC -225,503,000
EBIT 573,128,000
Tax Provision 111,704,000
Depreciation and Amortization 93,000,000
Capital Expenditure -82,016,000
Unlevered Free Cash Flow 214,162,547
Current Assets 335,581,000
Current Cash 199,662,000
Current Liabilities 340,354,000
Current Debt 818,000
Non-Cash Working Capital (NCWC) -203,617,000
Change in NCWC -106,765,000
EBIT 224,091,000
Tax Provision 32,727,000
Depreciation and Amortization 52,798,000
Capital Expenditure -19,528,000
Unlevered Free Cash Flow 90,542,232
Current Assets 227,128,000
Current Cash 125,536,000
Current Liabilities 199,218,000
Current Debt 774,000
Non-Cash Working Capital (NCWC) -96,852,000
Change in NCWC -37,228,000
EBIT 214,678,000
Tax Provision 24,025,000
Depreciation and Amortization 55,181,000
Capital Expenditure -47,649,000
Unlevered Free Cash Flow 140,432,031
Current Assets 94,973,000
Current Cash 2,705,000
Current Liabilities 183,720,000
Current Debt 31,828,000
Non-Cash Working Capital (NCWC) -59,624,000
Change in NCWC 6,348,000
EBIT 250,032,000
Tax Provision 81,728,000
Depreciation and Amortization 59,422,000
Capital Expenditure -37,842,000
Unlevered Free Cash Flow 168,136,037
Current Assets 139,277,000
Current Cash 7,642,000
Current Liabilities 261,990,000
Current Debt 64,383,000
Non-Cash Working Capital (NCWC) -65,972,000
Change in NCWC 17,639,000
EBIT 291,282,000
Tax Provision 81,315,000
Depreciation and Amortization 88,939,000
Capital Expenditure -73,222,000
Unlevered Free Cash Flow 216,791,390
Current Assets 155,405,000
Current Cash 17,030,000
Current Liabilities 279,560,000
Current Debt 57,574,000
Non-Cash Working Capital (NCWC) -83,611,000
Change in NCWC -11,145,000
EBIT 248,972,000
Tax Provision 72,564,000
Depreciation and Amortization 92,844,000
Capital Expenditure -106,400,000
Unlevered Free Cash Flow 133,409,254
Current Assets 147,989,000
Current Cash 17,743,000
Current Liabilities 229,389,000
Current Debt 26,677,000
Non-Cash Working Capital (NCWC) -72,466,000
Change in NCWC -13,012,000
EBIT 208,930,000
Tax Provision 65,769,000
Depreciation and Amortization 89,468,000
Capital Expenditure -86,226,000
Unlevered Free Cash Flow 122,122,845
Current Assets 146,560,000
Current Cash 10,578,000
Current Liabilities 206,307,000
Current Debt 10,871,000
Non-Cash Working Capital (NCWC) -59,454,000
Change in NCWC 22,963,000
EBIT 177,216,000
Tax Provision 51,786,000
Depreciation and Amortization 91,384,000
Capital Expenditure -63,326,000
Unlevered Free Cash Flow 165,648,799
Current Assets 117,212,000
Current Cash 9,644,000
Current Liabilities 211,674,000
Current Debt 21,689,000
Non-Cash Working Capital (NCWC) -82,417,000
Change in NCWC -86,279,000
EBIT 151,644,000
Tax Provision 40,346,000
Depreciation and Amortization 96,219,000
Capital Expenditure -110,748,000
Unlevered Free Cash Flow 1,075,692
Current Assets 231,181,000
Current Cash 8,469,000
Current Liabilities 275,302,000
Current Debt 56,452,000
Non-Cash Working Capital (NCWC) 3,862,000
Change in NCWC -9,290,000
EBIT 145,421,000
Tax Provision 30,643,000
Depreciation and Amortization 97,958,000
Capital Expenditure -116,127,000
Unlevered Free Cash Flow 70,361,340

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