DCF Tool

MLAB

mesa laboratories, inc., develops, manufactures and markets high-quality process validation, monitoring and calibration instruments and consumables worldwide. mesa offers quality data loggers for monitoring temperature, humidity, and pressure and biological indicators (bis) for medical device and pharmaceutical manufacturing sterilization monitoring. the datatrace data loggers and mesa bis are available to monitor and validate applications including steam and eo sterilization, autoclave validation, incubators, heat tunnels and more. mesa’s bi offering also includes bis for industrial use, hydrogen peroxide (h2o2), chlorine dioxide and more. the phoenix meter is a point-of-use dialysate qc meter used prior to each procedure. the 90xl meter is the industry standard for calibration of dialysis machines in the field. also available are industry leading nist-traceable calibration solutions. mesa also offers cap torque testers which are durable, reliable and computerized cap torque analyzers
Analysis Results
Intrinsic Value $320.26
Latest Price $105.01
Relative Value 67% undervalued
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Cash Flow (Millions)
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 22.9%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 8.2%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 22.9%, 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)
2024 58.8 54.4
2025 72.3 61.7
2026 88.9 70.1
2027 109 79.7
2028 134 90.5
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 2200 million. This corresponds to a present value of 1370 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 356 million. Adding in the terminal value gives a total present value of 1730 million.

There are presently 5.39 million outstanding shares, so the intrinsic value per share is 320.26.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 118,975,000
Current Cash 32,910,000
Current Liabilities 43,359,000
Current Debt 0
Non-Cash Working Capital (NCWC) 42,706,000
Change in NCWC 15,789,000
EBIT 3,320,000
Tax Provision -1,319,000
Depreciation and Amortization 33,824,000
Capital Expenditure -4,544,000
Unlevered Free Cash Flow 48,389,000
Current Assets 124,318,000
Current Cash 49,346,000
Current Liabilities 48,055,000
Current Debt 0
Non-Cash Working Capital (NCWC) 26,917,000
Change in NCWC 19,616,000
EBIT 4,702,000
Tax Provision 1,703,000
Depreciation and Amortization 25,068,000
Capital Expenditure -4,432,000
Unlevered Free Cash Flow 42,713,511
Current Assets 303,749,000
Current Cash 263,865,000
Current Liabilities 32,583,000
Current Debt 0
Non-Cash Working Capital (NCWC) 7,301,000
Change in NCWC -8,103,000
EBIT 12,449,000
Tax Provision -971,000
Depreciation and Amortization 17,660,000
Capital Expenditure -1,992,000
Unlevered Free Cash Flow 20,014,000
Current Assets 122,792,000
Current Cash 81,380,000
Current Liabilities 26,008,000
Current Debt 0
Non-Cash Working Capital (NCWC) 15,404,000
Change in NCWC 13,502,000
EBIT 7,842,000
Tax Provision 2,084,000
Depreciation and Amortization 12,990,000
Capital Expenditure -1,498,000
Unlevered Free Cash Flow 28,075,519
Current Assets 33,623,000
Current Cash 10,185,000
Current Liabilities 23,661,000
Current Debt 2,125,000
Non-Cash Working Capital (NCWC) 1,902,000
Change in NCWC -8,952,000
EBIT 17,855,000
Tax Provision 1,139,000
Depreciation and Amortization 9,428,000
Capital Expenditure -1,262,000
Unlevered Free Cash Flow 14,710,558
Current Assets 31,988,000
Current Cash 5,469,000
Current Liabilities 17,290,000
Current Debt 1,625,000
Non-Cash Working Capital (NCWC) 10,854,000
Change in NCWC -3,669,000
EBIT 16,002,000
Tax Provision 3,263,000
Depreciation and Amortization 9,471,000
Capital Expenditure -2,799,000
Unlevered Free Cash Flow 15,742,000
Current Assets 35,785,000
Current Cash 5,820,000
Current Liabilities 16,567,000
Current Debt 1,125,000
Non-Cash Working Capital (NCWC) 14,523,000
Change in NCWC 4,003,000
EBIT 16,313,000
Tax Provision 3,113,000
Depreciation and Amortization 8,737,000
Capital Expenditure -11,605,000
Unlevered Free Cash Flow 13,895,791
Current Assets 37,186,000
Current Cash 5,695,000
Current Liabilities 23,971,000
Current Debt 3,000,000
Non-Cash Working Capital (NCWC) 10,520,000
Change in NCWC -5,411,000
EBIT 16,323,000
Tax Provision 4,386,000
Depreciation and Amortization 7,174,000
Capital Expenditure -7,729,000
Unlevered Free Cash Flow 5,754,449
Current Assets 29,622,000
Current Cash 2,034,000
Current Liabilities 14,657,000
Current Debt 3,000,000
Non-Cash Working Capital (NCWC) 15,931,000
Change in NCWC 5,155,000
EBIT 15,864,000
Tax Provision 5,764,000
Depreciation and Amortization 5,656,000
Capital Expenditure -2,828,000
Unlevered Free Cash Flow 17,888,826
Current Assets 26,566,000
Current Cash 5,575,000
Current Liabilities 10,215,000
Current Debt 0
Non-Cash Working Capital (NCWC) 10,776,000
Change in NCWC -11,000
EBIT 11,785,000
Tax Provision 4,103,000
Depreciation and Amortization 3,844,000
Capital Expenditure -1,041,000
Unlevered Free Cash Flow 10,886,711
Current Assets 19,455,000
Current Cash 4,006,000
Current Liabilities 4,662,000
Current Debt 0
Non-Cash Working Capital (NCWC) 10,787,000
Change in NCWC 3,079,000
EBIT 13,104,000
Tax Provision 4,528,000
Depreciation and Amortization 3,432,000
Capital Expenditure -908,000
Unlevered Free Cash Flow 14,135,038
Current Assets 19,161,000
Current Cash 7,191,000
Current Liabilities 4,262,000
Current Debt 0
Non-Cash Working Capital (NCWC) 7,708,000
Change in NCWC -1,077,000
EBIT 12,827,000
Tax Provision 4,412,000
Depreciation and Amortization 2,215,000
Capital Expenditure -683,000
Unlevered Free Cash Flow 8,692,532

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