DCF Tool

MTZ

Mastec Inc. – Water and Sewer Line and Related Structures Construction
over the course of the last 80 years, mastec companies have been involved in some of the largest and most complex infrastructure construction projects across the country. our experience has given us a deep and comprehensive understanding of the markets we serve, as well as the ability to effectively manage people, projects and equipment. it allows us to proactively identify challenges, avoid pitfalls, and overcome obstacles, and to accurately set and meet expectations for schedule and budget. with offices across the country, a workforce of nearly 12,000 skilled professionals, and an extensive wholly-owned fleet of specialized construction equipment, mastec has the resources needed to reliably deliver quality work for even the most complicated jobs. our geographic reach, scalability, and overall financial stability enable us to meet each of our customers'‚Äč changing needs on a daily basis. our focus on innovation colors everything we do, and as we've grown, we've fostered it throughout e
Analysis Results
Intrinsic Value $219.93
Latest Price $72.90
Relative Value 67% 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 9.8%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 7.5%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 9.8%, 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)
2023 0.782 0.727
2024 0.859 0.742
2025 0.943 0.758
2026 1.04 0.774
2027 1.14 0.791
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 21.0 billion. This corresponds to a present value of 13.6 billion.

Intrinsic Value Per Share

The total present value of the projected cash flows is 3.79 billion. Adding in the terminal value gives a total present value of 17.3 billion.

There are presently 78.9 million outstanding shares, so the intrinsic value per share is 219.93.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 3,859,127,000
Current Cash 370,592,000
Current Liabilities 2,496,037,000
Current Debt 171,916,000
Non-Cash Working Capital (NCWC) 1,164,414,000
Change in NCWC 297,882,000
EBIT 153,956,000
Tax Provision 9,171,000
Depreciation and Amortization 507,148,000
Capital Expenditure -263,352,000
Unlevered Free Cash Flow 662,843,399
Current Assets 2,873,954,000
Current Cash 360,736,000
Current Liabilities 1,784,598,000
Current Debt 137,912,000
Non-Cash Working Capital (NCWC) 866,532,000
Change in NCWC 200,724,000
EBIT 450,080,000
Tax Provision 99,346,000
Depreciation and Amortization 422,826,000
Capital Expenditure -170,066,000
Unlevered Free Cash Flow 799,596,906
Current Assets 2,359,015,000
Current Cash 423,118,000
Current Liabilities 1,415,199,000
Current Debt 145,110,000
Non-Cash Working Capital (NCWC) 665,808,000
Change in NCWC -335,627,000
EBIT 462,891,000
Tax Provision 102,465,000
Depreciation and Amortization 297,751,000
Capital Expenditure -213,746,000
Unlevered Free Cash Flow 99,711,750
Current Assets 2,173,559,000
Current Cash 71,427,000
Current Liabilities 1,219,126,000
Current Debt 118,429,000
Non-Cash Working Capital (NCWC) 1,001,435,000
Change in NCWC 60,824,000
EBIT 605,329,000
Tax Provision 116,843,000
Depreciation and Amortization 235,482,000
Capital Expenditure -126,473,000
Unlevered Free Cash Flow 636,733,623
Current Assets 2,168,989,000
Current Cash 27,422,000
Current Liabilities 1,283,611,000
Current Debt 82,655,000
Non-Cash Working Capital (NCWC) 940,611,000
Change in NCWC -25,468,000
EBIT 493,756,000
Tax Provision 106,072,000
Depreciation and Amortization 212,930,000
Capital Expenditure -180,420,000
Unlevered Free Cash Flow 357,427,465
Current Assets 1,852,366,000
Current Cash 40,326,000
Current Liabilities 963,827,000
Current Debt 117,866,000
Non-Cash Working Capital (NCWC) 966,079,000
Change in NCWC 337,850,000
EBIT 419,847,000
Tax Provision 22,942,000
Depreciation and Amortization 188,049,000
Capital Expenditure -123,412,000
Unlevered Free Cash Flow 796,429,060
Current Assets 1,402,486,000
Current Cash 38,767,000
Current Liabilities 839,990,000
Current Debt 104,500,000
Non-Cash Working Capital (NCWC) 628,229,000
Change in NCWC 139,446,000
EBIT 269,758,000
Tax Provision 91,784,000
Depreciation and Amortization 164,915,000
Capital Expenditure -117,114,000
Unlevered Free Cash Flow 347,362,019
Current Assets 1,132,902,000
Current Cash 4,984,000
Current Liabilities 752,789,000
Current Debt 113,654,000
Non-Cash Working Capital (NCWC) 488,783,000
Change in NCWC -142,992,000
EBIT 51,455,000
Tax Provision 11,957,000
Depreciation and Amortization 169,662,000
Capital Expenditure -84,410,000
Unlevered Free Cash Flow -6,285,000
Current Assets 1,531,751,000
Current Cash 24,059,000
Current Liabilities 980,848,000
Current Debt 104,931,000
Non-Cash Working Capital (NCWC) 631,775,000
Change in NCWC 101,489,000
EBIT 241,083,000
Tax Provision 76,429,000
Depreciation and Amortization 154,452,000
Capital Expenditure -109,254,000
Unlevered Free Cash Flow 294,912,404
Current Assets 1,305,983,000
Current Cash 22,927,000
Current Liabilities 825,546,000
Current Debt 72,776,000
Non-Cash Working Capital (NCWC) 530,286,000
Change in NCWC 147,706,000
EBIT 286,092,000
Tax Provision 92,542,000
Depreciation and Amortization 140,928,000
Capital Expenditure -126,288,000
Unlevered Free Cash Flow 338,221,585
Current Assets 1,047,068,000
Current Cash 26,382,000
Current Liabilities 705,702,000
Current Debt 67,596,000
Non-Cash Working Capital (NCWC) 382,580,000
Change in NCWC 126,406,000
EBIT 238,112,000
Tax Provision 76,080,000
Depreciation and Amortization 92,601,000
Capital Expenditure -79,686,000
Unlevered Free Cash Flow 283,433,129

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