DCF Tool


Knight-Swift Transportation Holdings Inc – General Freight Trucking, Long-Distance, Truckload
knight-swift transportation holdings inc., together with its subsidiaries, provides truckload transportation services in the united states and mexico. the company operates through three segments: trucking, logistics, and intermodal. its trucking services include irregular route, dedicated, refrigerated, flatbed, expedited, dry van, drayage, and cross-border transportation of various products, goods, and materials. the company also provides logistics and intermodal services, such as brokerage, intermodal, and certain logistics; freight management; and non-trucking services. in addition, it offers various support services, including repair and maintenance shop services, warranty, insurance, and equipment leasing; and trailer parts manufacturing services, as well as engages in the driving academy activities. the company operates a total of 18,877 tractors, which comprises 16,432 company-owned tractors and 2,445 independent contractor tractors, as well as 58,315 trailers; and 643 tractors
Analysis Results
Intrinsic Value $538.51
Latest Price $49.79
Relative Value 91% undervalued
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Cash Flow (Billions)
Analysis Parameters
New Ticker
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 55.6%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 8.6%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 55.6%, 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 (billion) Present value (billion)
2023 1.31 1.21
2024 2.04 1.73
2025 3.17 2.48
2026 4.93 3.55
2027 7.68 5.09
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 119 billion. This corresponds to a present value of 72.8 billion.

Intrinsic Value Per Share

The total present value of the projected cash flows is 14.1 billion. Adding in the terminal value gives a total present value of 86.9 billion.

There are presently 161.0 million outstanding shares, so the intrinsic value per share is 538.51.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 1,493,572,000
Current Cash 196,770,000
Current Liabilities 894,007,000
Current Debt 71,466,000
Non-Cash Working Capital (NCWC) 474,261,000
Change in NCWC 133,375,000
EBIT 1,092,638,000
Tax Provision 249,388,000
Depreciation and Amortization 659,824,000
Capital Expenditure -800,563,000
Unlevered Free Cash Flow 818,258,612
Current Assets 1,414,280,000
Current Cash 261,001,000
Current Liabilities 1,074,816,000
Current Debt 262,423,000
Non-Cash Working Capital (NCWC) 340,886,000
Change in NCWC 361,347,000
EBIT 965,996,000
Tax Provision 230,887,000
Depreciation and Amortization 577,895,000
Capital Expenditure -534,096,000
Unlevered Free Cash Flow 1,142,301,543
Current Assets 923,363,000
Current Cash 156,699,000
Current Liabilities 839,708,000
Current Debt 52,583,000
Non-Cash Working Capital (NCWC) -20,461,000
Change in NCWC -135,380,000
EBIT 569,773,000
Tax Provision 149,676,000
Depreciation and Amortization 506,670,000
Capital Expenditure -521,067,000
Unlevered Free Cash Flow 267,792,413
Current Assets 890,028,000
Current Cash 159,722,000
Current Liabilities 993,038,000
Current Debt 377,651,000
Non-Cash Working Capital (NCWC) 114,919,000
Change in NCWC -153,936,000
EBIT 430,924,000
Tax Provision 103,798,000
Depreciation and Amortization 462,958,000
Capital Expenditure -829,977,000
Unlevered Free Cash Flow -198,078,445
Current Assets 907,232,000
Current Cash 82,486,000
Current Liabilities 614,563,000
Current Debt 58,672,000
Non-Cash Working Capital (NCWC) 268,855,000
Change in NCWC -17,155,000
EBIT 571,841,000
Tax Provision 131,389,000
Depreciation and Amortization 430,089,000
Capital Expenditure -755,997,000
Unlevered Free Cash Flow 92,675,744
Current Assets 923,207,000
Current Cash 76,649,000
Current Liabilities 609,550,000
Current Debt 49,002,000
Non-Cash Working Capital (NCWC) 286,010,000
Change in NCWC 182,490,000
EBIT 233,990,000
Tax Provision -291,716,000
Depreciation and Amortization 207,105,000
Capital Expenditure -387,191,000
Unlevered Free Cash Flow 236,394,000
Current Assets 190,191,000
Current Cash 8,021,000
Current Liabilities 78,650,000
Current Debt 0
Non-Cash Working Capital (NCWC) 103,520,000
Change in NCWC -51,879,000
EBIT 148,479,000
Tax Provision 57,592,000
Depreciation and Amortization 116,160,000
Capital Expenditure -154,596,000
Unlevered Free Cash Flow 2,211,617
Current Assets 244,113,000
Current Cash 8,691,000
Current Liabilities 80,023,000
Current Debt 0
Non-Cash Working Capital (NCWC) 155,399,000
Change in NCWC 26,798,000
EBIT 178,000,000
Tax Provision 68,047,000
Depreciation and Amortization 111,023,000
Capital Expenditure -221,660,000
Unlevered Free Cash Flow 29,216,730
Current Assets 238,252,000
Current Cash 17,066,000
Current Liabilities 92,585,000
Current Debt 0
Non-Cash Working Capital (NCWC) 128,601,000
Change in NCWC 27,563,000
EBIT 162,722,000
Tax Provision 67,809,000
Depreciation and Amortization 92,893,000
Capital Expenditure -260,389,000
Unlevered Free Cash Flow -41,425,724
Current Assets 164,832,000
Current Cash 992,000
Current Liabilities 62,802,000
Current Debt 0
Non-Cash Working Capital (NCWC) 101,038,000
Change in NCWC -2,552,000
EBIT 113,909,000
Tax Provision 46,680,000
Depreciation and Amortization 86,129,000
Capital Expenditure -140,612,000
Unlevered Free Cash Flow 11,311,961
Current Assets 163,097,000
Current Cash 5,684,000
Current Liabilities 53,823,000
Current Debt 0
Non-Cash Working Capital (NCWC) 103,590,000
Change in NCWC 3,092,000
EBIT 108,267,000
Tax Provision 45,014,000
Depreciation and Amortization 85,056,000
Capital Expenditure -160,633,000
Unlevered Free Cash Flow -8,612,825

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