DCF Tool

KOP

Koppers Holdings Inc – Other Basic Inorganic Chemical Manufacturing
Koppers, with corporate headquarters in Pittsburgh, Pennsylvania, is an integrated global provider of treated wood products, wood treatment chemicals and carbon compounds. Its products and services are used in a variety of niche applications in a diverse range of end-markets, including the railroad, specialty chemical, utility, residential lumber, agriculture, aluminum, steel, rubber, and construction industries. The Company serves its customers through a comprehensive global manufacturing and distribution network, with facilities located in North America, South America, Australasia and Europe.
Analysis Results
Intrinsic Value $125.56
Latest Price $26.22
Relative Value 79% undervalued
Thoughts on this result? Let us know.
Ad
Cash Flow (Millions)
Analysis Parameters
%
%
%
New Ticker
Ad
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 6.1%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 5.8%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 6.1%, 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 90.0 85.0
2023 95.4 85.3
2024 101 85.5
2025 107 85.8
2026 114 86.0
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 3080 million. This corresponds to a present value of 2200 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 428 million. Adding in the terminal value gives a total present value of 2620 million.

There are presently 20.9 million outstanding shares, so the intrinsic value per share is 125.56.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 628,100,000
Current Cash 45,500,000
Current Liabilities 285,700,000
Current Debt 2,000,000
Non-Cash Working Capital (NCWC) 298,900,000
Change in NCWC 54,900,000
EBIT 127,500,000
Tax Provision 34,500,000
Depreciation and Amortization 57,700,000
Capital Expenditure -125,000,000
Unlevered Free Cash Flow 78,321,153
Current Assets 564,500,000
Current Cash 38,500,000
Current Liabilities 292,100,000
Current Debt 10,100,000
Non-Cash Working Capital (NCWC) 244,000,000
Change in NCWC 43,500,000
EBIT 163,200,000
Tax Provision 21,000,000
Depreciation and Amortization 54,100,000
Capital Expenditure -69,800,000
Unlevered Free Cash Flow 159,871,934
Current Assets 519,500,000
Current Cash 33,000,000
Current Liabilities 296,200,000
Current Debt 10,200,000
Non-Cash Working Capital (NCWC) 200,500,000
Change in NCWC -12,100,000
EBIT 136,800,000
Tax Provision 1,400,000
Depreciation and Amortization 55,100,000
Capital Expenditure -37,200,000
Unlevered Free Cash Flow 139,820,319
Current Assets 540,300,000
Current Cash 40,600,000
Current Liabilities 298,700,000
Current Debt 11,600,000
Non-Cash Working Capital (NCWC) 212,600,000
Change in NCWC 36,000,000
EBIT 122,700,000
Tax Provision 26,000,000
Depreciation and Amortization 50,800,000
Capital Expenditure -109,700,000
Unlevered Free Cash Flow 41,584,671
Current Assets 506,700,000
Current Cash 60,300,000
Current Liabilities 281,200,000
Current Debt 11,400,000
Non-Cash Working Capital (NCWC) 176,600,000
Change in NCWC 9,800,000
EBIT 138,300,000
Tax Provision 29,000,000
Depreciation and Amortization 49,800,000
Capital Expenditure -67,500,000
Unlevered Free Cash Flow 63,887,562
Current Assets 438,100,000
Current Cash 20,800,000
Current Liabilities 293,100,000
Current Debt 42,600,000
Non-Cash Working Capital (NCWC) 166,800,000
Change in NCWC -15,100,000
EBIT 104,400,000
Tax Provision 11,400,000
Depreciation and Amortization 52,900,000
Capital Expenditure -49,900,000
Unlevered Free Cash Flow 61,386,753
Current Assets 444,300,000
Current Cash 21,800,000
Current Liabilities 280,500,000
Current Debt 39,900,000
Non-Cash Working Capital (NCWC) 181,900,000
Change in NCWC -60,100,000
EBIT 76,600,000
Tax Provision -4,200,000
Depreciation and Amortization 59,000,000
Capital Expenditure -40,700,000
Unlevered Free Cash Flow 34,800,000
Current Assets 541,300,000
Current Cash 51,100,000
Current Liabilities 292,100,000
Current Debt 43,900,000
Non-Cash Working Capital (NCWC) 242,000,000
Change in NCWC 46,200,000
EBIT 51,100,000
Tax Provision 34,100,000
Depreciation and Amortization 44,000,000
Capital Expenditure -83,800,000
Unlevered Free Cash Flow 57,500,000
Current Assets 473,100,000
Current Cash 82,200,000
Current Liabilities 195,100,000
Current Debt 0
Non-Cash Working Capital (NCWC) 195,800,000
Change in NCWC -37,500,000
EBIT 112,200,000
Tax Provision 36,800,000
Depreciation and Amortization 29,700,000
Capital Expenditure -72,900,000
Unlevered Free Cash Flow -22,122,857
Current Assets 481,200,000
Current Cash 66,700,000
Current Liabilities 181,200,000
Current Debt 0
Non-Cash Working Capital (NCWC) 233,300,000
Change in NCWC 30,400,000
EBIT 126,600,000
Tax Provision 33,300,000
Depreciation and Amortization 28,200,000
Capital Expenditure -28,900,000
Unlevered Free Cash Flow 114,393,638

This analysis is provided for informational purposes only and does not constitute financial or investing advice. For more information on the advantages and limitations of DCF analysis see background. This information is provided on an "as is" basis. No warranty, expressed or implied, is made regarding accuracy, adequacy, completeness, legality, reliability or usefulness of any information. By using this site you agree that under no circumstances shall Valuation Tools LLC be held liable for any loss or damage caused by information obtained from this website including any articles, data, videos, its social media accounts, or any other materials.