DCF Tool

KSS

Kohl`s Corp. – Department Stores (except Discount Department Stores)
at kohl’s, our mission is to inspire and empower families to lead fulfilled lives. and there’s no more rewarding job than that. it’s not just about selling things; it’s about letting customers know that the things that make their lives better are within their reach. who we are kohl’s is proud of be a member of the community. and being a part of a community means we have responsibilities to fulfill. we meet these responsibilities in various ways, starting with providing investors with accurate, timely and helpful information about our company. we focus a lot of time, energy and money on giving back to our communities through our many kohl’s cares programs, including our associates in action volunteer program for youth-serving nonprofit organizations. we also believe being a responsible member of a community means protecting and conserving the environment by seeking innovative solutions that encourage long-term stability. responsibility to our investors, communities and environment—it’s
Analysis Results
Intrinsic Value $89.95
Latest Price $28.30
Relative Value 69% undervalued
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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 -4.7%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 8.9%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of -4.7%, 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 0.92 0.845
2025 0.877 0.739
2026 0.835 0.646
2027 0.796 0.565
2028 0.758 0.494
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 11.1 billion. This corresponds to a present value of 6.67 billion.

Intrinsic Value Per Share

The total present value of the projected cash flows is 3.29 billion. Adding in the terminal value gives a total present value of 9.96 billion.

There are presently 111.0 million outstanding shares, so the intrinsic value per share is 89.95.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 3,736,000,000
Current Cash 153,000,000
Current Liabilities 3,115,000,000
Current Debt 454,000,000
Non-Cash Working Capital (NCWC) 922,000,000
Change in NCWC 654,000,000
EBIT 246,000,000
Tax Provision -39,000,000
Depreciation and Amortization 808,000,000
Capital Expenditure -826,000,000
Unlevered Free Cash Flow 882,000,000
Current Assets 5,023,000,000
Current Cash 1,587,000,000
Current Liabilities 3,286,000,000
Current Debt 118,000,000
Non-Cash Working Capital (NCWC) 268,000,000
Change in NCWC -389,000,000
EBIT 1,680,000,000
Tax Provision 281,000,000
Depreciation and Amortization 838,000,000
Capital Expenditure -605,000,000
Unlevered Free Cash Flow 1,136,731,747
Current Assets 5,835,000,000
Current Cash 2,271,000,000
Current Liabilities 3,022,000,000
Current Debt 115,000,000
Non-Cash Working Capital (NCWC) 657,000,000
Change in NCWC -624,000,000
EBIT -300,000,000
Tax Provision -383,000,000
Depreciation and Amortization 874,000,000
Capital Expenditure -334,000,000
Unlevered Free Cash Flow -384,000,000
Current Assets 4,649,000,000
Current Cash 723,000,000
Current Liabilities 2,769,000,000
Current Debt 124,000,000
Non-Cash Working Capital (NCWC) 1,281,000,000
Change in NCWC -5,000,000
EBIT 1,212,000,000
Tax Provision 210,000,000
Depreciation and Amortization 917,000,000
Capital Expenditure -855,000,000
Unlevered Free Cash Flow 986,513,873
Current Assets 4,835,000,000
Current Cash 934,000,000
Current Liabilities 2,730,000,000
Current Debt 115,000,000
Non-Cash Working Capital (NCWC) 1,286,000,000
Change in NCWC -212,000,000
EBIT 1,465,000,000
Tax Provision 241,000,000
Depreciation and Amortization 964,000,000
Capital Expenditure -578,000,000
Unlevered Free Cash Flow 1,300,166,026
Current Assets 5,331,000,000
Current Cash 1,308,000,000
Current Liabilities 2,651,000,000
Current Debt 126,000,000
Non-Cash Working Capital (NCWC) 1,498,000,000
Change in NCWC 168,000,000
EBIT 1,416,000,000
Tax Provision 258,000,000
Depreciation and Amortization 991,000,000
Capital Expenditure -672,000,000
Unlevered Free Cash Flow 1,575,938,227
Current Assets 5,247,000,000
Current Cash 1,074,000,000
Current Liabilities 2,974,000,000
Current Debt 131,000,000
Non-Cash Working Capital (NCWC) 1,330,000,000
Change in NCWC -452,000,000
EBIT 1,369,000,000
Tax Provision 319,000,000
Depreciation and Amortization 938,000,000
Capital Expenditure -768,000,000
Unlevered Free Cash Flow 587,901,714
Current Assets 5,076,000,000
Current Cash 707,000,000
Current Liabilities 2,714,000,000
Current Debt 127,000,000
Non-Cash Working Capital (NCWC) 1,782,000,000
Change in NCWC 240,000,000
EBIT 1,553,000,000
Tax Provision 384,000,000
Depreciation and Amortization 934,000,000
Capital Expenditure -690,000,000
Unlevered Free Cash Flow 1,472,807,000
Current Assets 5,698,000,000
Current Cash 1,407,000,000
Current Liabilities 2,859,000,000
Current Debt 110,000,000
Non-Cash Working Capital (NCWC) 1,542,000,000
Change in NCWC -182,000,000
EBIT 1,689,000,000
Tax Provision 482,000,000
Depreciation and Amortization 886,000,000
Capital Expenditure -682,000,000
Unlevered Free Cash Flow 1,107,517,420
Current Assets 5,292,000,000
Current Cash 971,000,000
Current Liabilities 2,736,000,000
Current Debt 139,000,000
Non-Cash Working Capital (NCWC) 1,724,000,000
Change in NCWC -28,000,000
EBIT 1,742,000,000
Tax Provision 515,000,000
Depreciation and Amortization 889,000,000
Capital Expenditure -643,000,000
Unlevered Free Cash Flow 1,321,018,518
Current Assets 4,719,000,000
Current Cash 537,000,000
Current Liabilities 2,535,000,000
Current Debt 105,000,000
Non-Cash Working Capital (NCWC) 1,752,000,000
Change in NCWC 678,000,000
EBIT 1,890,000,000
Tax Provision 575,000,000
Depreciation and Amortization 833,000,000
Capital Expenditure -785,000,000
Unlevered Free Cash Flow 1,919,811,659

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