DCF Tool


Lattice Semiconductor Corp. – Semiconductor and Related Device Manufacturing
lattice semiconductor (nasdaq: lscc) is the global leader in smart connectivity solutions, providing market leading intellectual property and low-power, small form-factor devices that enable more than 8,000 global customers to quickly deliver innovative and differentiated cost and power efficient products. the company’s broad end-market exposure extends from consumer electronics to industrial equipment, communications infrastructure and licensing. lattice was founded in 1983 and is headquartered in portland, oregon. in march 2015, the company acquired silicon image, which is a leader in setting industry standards including the highly successful hdmi®, dvi™, mhl® and wirelesshd® standards.
Analysis Results
Intrinsic Value $74.05
Latest Price $79.29
Relative Value 7% overvalued
Thoughts on this result? Let us know.
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 42.1%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 12.4%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 42.1%, 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)
2024 0.373 0.332
2025 0.53 0.419
2026 0.753 0.53
2027 1.07 0.67
2028 1.52 0.847
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 14.9 billion. This corresponds to a present value of 7.39 billion.

Intrinsic Value Per Share

The total present value of the projected cash flows is 2.8 billion. Adding in the terminal value gives a total present value of 10.2 billion.

There are presently 138.0 million outstanding shares, so the intrinsic value per share is 74.05.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 367,946,000
Current Cash 128,317,000
Current Liabilities 97,400,000
Current Debt 0
Non-Cash Working Capital (NCWC) 142,229,000
Change in NCWC 36,157,000
EBIT 214,178,000
Tax Provision -44,205,000
Depreciation and Amortization 41,196,000
Capital Expenditure -33,250,000
Unlevered Free Cash Flow 258,281,000
Current Assets 379,167,000
Current Cash 145,722,000
Current Liabilities 127,373,000
Current Debt 0
Non-Cash Working Capital (NCWC) 106,072,000
Change in NCWC 25,299,000
EBIT 190,429,000
Tax Provision 3,230,000
Depreciation and Amortization 35,835,000
Capital Expenditure -34,932,000
Unlevered Free Cash Flow 213,253,486
Current Assets 301,351,000
Current Cash 131,570,000
Current Liabilities 106,181,000
Current Debt 17,173,000
Non-Cash Working Capital (NCWC) 80,773,000
Change in NCWC -3,769,000
EBIT 102,927,000
Tax Provision 1,704,000
Depreciation and Amortization 31,016,000
Capital Expenditure -21,697,000
Unlevered Free Cash Flow 106,680,474
Current Assets 333,843,000
Current Cash 182,332,000
Current Liabilities 79,731,000
Current Debt 12,762,000
Non-Cash Working Capital (NCWC) 84,542,000
Change in NCWC 18,538,000
EBIT 56,303,000
Tax Provision 1,064,000
Depreciation and Amortization 31,100,000
Capital Expenditure -20,868,000
Unlevered Free Cash Flow 83,836,695
Current Assets 262,430,000
Current Cash 118,081,000
Current Liabilities 99,819,000
Current Debt 21,474,000
Non-Cash Working Capital (NCWC) 66,004,000
Change in NCWC -28,616,000
EBIT 63,705,000
Tax Provision 1,572,000
Depreciation and Amortization 33,056,000
Capital Expenditure -25,191,000
Unlevered Free Cash Flow 40,731,781
Current Assets 284,423,000
Current Cash 128,675,000
Current Liabilities 69,418,000
Current Debt 8,290,000
Non-Cash Working Capital (NCWC) 94,620,000
Change in NCWC 25,185,000
EBIT 28,246,000
Tax Provision 2,353,000
Depreciation and Amortization 39,261,000
Capital Expenditure -16,507,000
Unlevered Free Cash Flow 76,185,000
Current Assets 263,371,000
Current Cash 111,797,000
Current Liabilities 83,647,000
Current Debt 1,508,000
Non-Cash Working Capital (NCWC) 69,435,000
Change in NCWC -4,622,000
EBIT -8,836,000
Tax Provision 849,000
Depreciation and Amortization 57,861,000
Capital Expenditure -21,387,000
Unlevered Free Cash Flow 23,016,000
Current Assets 314,700,000
Current Cash 116,860,000
Current Liabilities 157,550,000
Current Debt 33,767,000
Non-Cash Working Capital (NCWC) 74,057,000
Change in NCWC -5,612,000
EBIT -4,720,000
Tax Provision 9,917,000
Depreciation and Amortization 61,806,000
Capital Expenditure -25,752,000
Unlevered Free Cash Flow 25,722,000
Current Assets 285,863,000
Current Cash 102,574,000
Current Liabilities 111,177,000
Current Debt 7,557,000
Non-Cash Working Capital (NCWC) 79,669,000
Change in NCWC -3,163,000
EBIT -44,380,000
Tax Provision 32,540,000
Depreciation and Amortization 60,808,000
Capital Expenditure -27,724,000
Unlevered Free Cash Flow -14,459,000
Current Assets 398,422,000
Current Cash 254,844,000
Current Liabilities 60,746,000
Current Debt 0
Non-Cash Working Capital (NCWC) 82,832,000
Change in NCWC 31,454,000
EBIT 41,633,000
Tax Provision -5,639,000
Depreciation and Amortization 22,248,000
Capital Expenditure -10,267,000
Unlevered Free Cash Flow 85,068,000
Current Assets 325,801,000
Current Cash 215,815,000
Current Liabilities 58,608,000
Current Debt 0
Non-Cash Working Capital (NCWC) 51,378,000
Change in NCWC 524,000
EBIT 27,174,000
Tax Provision 4,165,000
Depreciation and Amortization 20,807,000
Capital Expenditure -12,500,000
Unlevered Free Cash Flow 31,731,810
Current Assets 287,348,000
Current Cash 183,401,000
Current Liabilities 53,093,000
Current Debt 0
Non-Cash Working Capital (NCWC) 50,854,000
Change in NCWC 12,359,000
EBIT -3,348,000
Tax Provision 20,745,000
Depreciation and Amortization 22,149,000
Capital Expenditure -13,593,000
Unlevered Free Cash Flow 17,567,000

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.