DCF Tool

MTCH

Match Group Inc. – Data Processing, Hosting, and Related Services
Match Group, through its portfolio companies, is a leading provider of dating products available in over 40 languages to our users all over the world. Its portfolio of brands includes Tinder, Match, PlentyOfFish, Meetic , OkCupid, OurTime, Pairs, and Hinge, as well as a number of other brands, each designed to increase users' likelihood of finding a meaningful connection. Through its portfolio companies and their trusted brands, they provide tailored products to meet the varying preferences of our users.
Analysis Results
Intrinsic Value $26.34
Latest Price $65.99
Relative Value 151% overvalued
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 9.0%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 11.4%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 9.0%, 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 607 545
2023 662 533
2024 721 521
2025 786 510
2026 857 499
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 9270 million. This corresponds to a present value of 4850 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 2610 million. Adding in the terminal value gives a total present value of 7450 million.

There are presently 283.0 million outstanding shares, so the intrinsic value per share is 26.34.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 1,218,252,000
Current Cash 827,202,000
Current Liabilities 1,168,295,000
Current Debt 99,927,000
Non-Cash Working Capital (NCWC) -677,318,000
Change in NCWC -458,330,000
EBIT 851,679,000
Tax Provision -19,897,000
Depreciation and Amortization 69,961,000
Capital Expenditure -79,971,000
Unlevered Free Cash Flow 383,339,000
Current Assets 1,020,212,000
Current Cash 739,164,000
Current Liabilities 500,036,000
Current Debt 0
Non-Cash Working Capital (NCWC) -218,988,000
Change in NCWC 227,160,000
EBIT 745,715,000
Tax Provision 32,874,000
Depreciation and Amortization 48,796,000
Capital Expenditure -42,376,000
Unlevered Free Cash Flow 937,517,117
Current Assets 3,706,989,000
Current Cash 3,159,288,000
Current Liabilities 1,007,599,000
Current Debt 13,750,000
Non-Cash Working Capital (NCWC) -446,148,000
Change in NCWC -83,782,000
EBIT 584,651,000
Tax Provision -49,309,000
Depreciation and Amortization 180,994,000
Capital Expenditure -136,652,000
Unlevered Free Cash Flow 545,211,000
Current Assets 2,762,739,000
Current Cash 2,255,297,000
Current Liabilities 883,558,000
Current Debt 13,750,000
Non-Cash Working Capital (NCWC) -362,366,000
Change in NCWC -65,789,000
EBIT 565,139,000
Tax Provision 3,811,000
Depreciation and Amortization 183,759,000
Capital Expenditure -85,634,000
Unlevered Free Cash Flow 594,646,922
Current Assets 2,125,205,000
Current Cash 1,635,804,000
Current Liabilities 799,728,000
Current Debt 13,750,000
Non-Cash Working Capital (NCWC) -296,577,000
Change in NCWC -27,395,000
EBIT 188,466,000
Tax Provision -291,050,000
Depreciation and Amortization 116,408,000
Capital Expenditure -75,523,000
Unlevered Free Cash Flow 201,956,000
Current Assets 1,842,735,000
Current Cash 1,418,529,000
Current Liabilities 713,388,000
Current Debt 20,000,000
Non-Cash Working Capital (NCWC) -269,182,000
Change in NCWC 35,001,000
EBIT 242,742,000
Tax Provision -64,934,000
Depreciation and Amortization 151,102,000
Capital Expenditure -78,039,000
Unlevered Free Cash Flow 350,806,000
Current Assets 1,945,010,000
Current Cash 1,520,647,000
Current Liabilities 768,546,000
Current Debt 40,000,000
Non-Cash Working Capital (NCWC) -304,183,000
Change in NCWC -33,057,000
EBIT 194,416,000
Tax Provision 29,516,000
Depreciation and Amortization 202,157,000
Capital Expenditure -62,049,000
Unlevered Free Cash Flow 261,302,779
Current Assets 1,553,881,000
Current Cash 1,151,053,000
Current Liabilities 673,954,000
Current Debt 0
Non-Cash Working Capital (NCWC) -271,126,000
Change in NCWC -53,167,000
EBIT 369,030,000
Tax Provision 35,372,000
Depreciation and Amortization 119,082,000
Capital Expenditure -57,233,000
Unlevered Free Cash Flow 329,353,619
Current Assets 1,475,386,000
Current Cash 1,106,448,000
Current Liabilities 586,897,000
Current Debt 0
Non-Cash Working Capital (NCWC) -217,959,000
Change in NCWC 4,917,000
EBIT 419,588,000
Tax Provision 134,502,000
Depreciation and Amortization 118,752,000
Capital Expenditure -131,391,000
Unlevered Free Cash Flow 276,302,008

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.