DCF Tool

LFUS

Littelfuse, Inc. – Switchgear and Switchboard Apparatus Manufacturing
Littelfuse is an industrial technology manufacturing company empowering a sustainable, connected, and safer world. Across more than 15 countries, and with 12,000 global associates, Littelfuse partners with customers to design and deliver innovative, reliable solutions. Serving over 100,000 end customers, its products are found in a variety of industrial, transportation and electronics end markets - everywhere, every day.
Analysis Results
Intrinsic Value $618.24
Latest Price $197.16
Relative Value 68% 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 26.1%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 8.7%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 26.1%, 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 (billion) Present value (billion)
2022 0.513 0.472
2023 0.647 0.548
2024 0.816 0.636
2025 1.03 0.738
2026 1.3 0.856
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 19.8 billion. This corresponds to a present value of 12.1 billion.

Intrinsic Value Per Share

The total present value of the projected cash flows is 3.25 billion. Adding in the terminal value gives a total present value of 15.3 billion.

There are presently 24.8 million outstanding shares, so the intrinsic value per share is 618.24.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 1,270,211,000
Current Cash 478,501,000
Current Liabilities 434,633,000
Current Debt 25,000,000
Non-Cash Working Capital (NCWC) 382,077,000
Change in NCWC 127,995,000
EBIT 387,800,000
Tax Provision 57,219,000
Depreciation and Amortization 98,635,000
Capital Expenditure -90,562,000
Unlevered Free Cash Flow 458,800,840
Current Assets 1,217,309,000
Current Cash 687,579,000
Current Liabilities 275,648,000
Current Debt 0
Non-Cash Working Capital (NCWC) 254,082,000
Change in NCWC -3,567,000
EBIT 204,088,000
Tax Provision 31,267,000
Depreciation and Amortization 96,178,000
Capital Expenditure -56,191,000
Unlevered Free Cash Flow 200,935,281
Current Assets 1,004,394,000
Current Cash 531,183,000
Current Liabilities 225,562,000
Current Debt 10,000,000
Non-Cash Working Capital (NCWC) 257,649,000
Change in NCWC 174,000
EBIT 192,791,000
Tax Provision 26,802,000
Depreciation and Amortization 92,503,000
Capital Expenditure -61,895,000
Unlevered Free Cash Flow 192,423,616
Current Assets 1,032,517,000
Current Cash 489,767,000
Current Liabilities 295,275,000
Current Debt 10,000,000
Non-Cash Working Capital (NCWC) 257,475,000
Change in NCWC 113,390,000
EBIT 225,049,000
Tax Provision 40,377,000
Depreciation and Amortization 103,193,000
Capital Expenditure -74,753,000
Unlevered Free Cash Flow 322,540,584
Current Assets 792,340,000
Current Cash 429,711,000
Current Liabilities 224,794,000
Current Debt 6,250,000
Non-Cash Working Capital (NCWC) 144,085,000
Change in NCWC -7,891,000
EBIT 218,511,000
Tax Provision 84,518,000
Depreciation and Amortization 63,011,000
Capital Expenditure -65,925,000
Unlevered Free Cash Flow 117,192,452
Current Assets 612,081,000
Current Cash 278,814,000
Current Liabilities 187,541,000
Current Debt 6,250,000
Non-Cash Working Capital (NCWC) 151,976,000
Change in NCWC 24,339,000
EBIT 145,453,000
Tax Provision 18,786,000
Depreciation and Amortization 53,137,000
Capital Expenditure -46,228,000
Unlevered Free Cash Flow 154,535,092
Current Assets 583,435,000
Current Cash 332,965,000
Current Liabilities 209,833,000
Current Debt 87,000,000
Non-Cash Working Capital (NCWC) 127,637,000
Change in NCWC -26,029,000
EBIT 134,085,000
Tax Provision 24,482,000
Depreciation and Amortization 41,599,000
Capital Expenditure -44,019,000
Unlevered Free Cash Flow 74,941,934
Current Assets 571,505,000
Current Cash 301,873,000
Current Liabilities 204,466,000
Current Debt 88,500,000
Non-Cash Working Capital (NCWC) 153,666,000
Change in NCWC -17,117,000
EBIT 133,830,000
Tax Provision 32,228,000
Depreciation and Amortization 41,875,000
Capital Expenditure -32,281,000
Unlevered Free Cash Flow 93,544,339
Current Assets 565,599,000
Current Cash 312,078,000
Current Liabilities 208,738,000
Current Debt 126,000,000
Non-Cash Working Capital (NCWC) 170,783,000
Change in NCWC 32,142,000
EBIT 129,881,000
Tax Provision 35,451,000
Depreciation and Amortization 34,480,000
Capital Expenditure -34,953,000
Unlevered Free Cash Flow 124,487,889
Current Assets 445,465,000
Current Cash 235,404,000
Current Liabilities 155,420,000
Current Debt 84,000,000
Non-Cash Working Capital (NCWC) 138,641,000
Change in NCWC 2,549,000
EBIT 102,859,000
Tax Provision 24,720,000
Depreciation and Amortization 31,433,000
Capital Expenditure -22,529,000
Unlevered Free Cash Flow 88,898,470

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