DCF Tool

NLS

Nautilus Inc – Sporting and Athletic Goods Manufacturing
Headquartered in Vancouver, Washington, Nautilus, Inc. is a global technology driven fitness solutions company that believes everyone deserves a fit and healthy life. With a brand portfolio including Bowflex®, Nautilus®, Schwinn® and JRNY®. Nautilus, Inc. develops innovative products to support healthy living through direct and retail channels.
Analysis Results
Intrinsic Value $21.24
Latest Price $1.50
Relative Value 93% 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 5.2%.

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 5.2%, 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 39.9 36.9
2023 42.0 35.9
2024 44.2 34.9
2025 46.5 33.9
2026 48.9 33.0
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 802 million. This corresponds to a present value of 499 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 174 million. Adding in the terminal value gives a total present value of 674 million.

There are presently 31.7 million outstanding shares, so the intrinsic value per share is 21.24.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 207,286,000
Current Cash 12,872,000
Current Liabilities 95,214,000
Current Debt 2,362,000
Non-Cash Working Capital (NCWC) 101,562,000
Change in NCWC 61,419,000
EBIT -25,316,000
Tax Provision -6,026,000
Depreciation and Amortization 8,615,000
Capital Expenditure -13,050,000
Unlevered Free Cash Flow 31,668,000
Current Assets 259,692,000
Current Cash 92,780,000
Current Liabilities 129,561,000
Current Debt 2,792,000
Non-Cash Working Capital (NCWC) 40,143,000
Change in NCWC 10,728,000
EBIT 98,477,000
Tax Provision 12,198,000
Depreciation and Amortization 9,448,000
Capital Expenditure -9,727,000
Unlevered Free Cash Flow 92,410,946
Current Assets 129,193,000
Current Cash 11,070,000
Current Liabilities 88,708,000
Current Debt 0
Non-Cash Working Capital (NCWC) 29,415,000
Change in NCWC 318,000
EBIT -28,536,000
Tax Provision -9,537,000
Depreciation and Amortization 10,811,000
Capital Expenditure -8,952,000
Unlevered Free Cash Flow -26,359,000
Current Assets 191,462,000
Current Cash 63,517,000
Current Liabilities 114,841,000
Current Debt 15,993,000
Non-Cash Working Capital (NCWC) 29,097,000
Change in NCWC 7,182,000
EBIT 20,769,000
Tax Provision 5,891,000
Depreciation and Amortization 8,942,000
Capital Expenditure -10,380,000
Unlevered Free Cash Flow 20,687,078
Current Assets 188,492,000
Current Cash 85,196,000
Current Liabilities 97,374,000
Current Debt 15,993,000
Non-Cash Working Capital (NCWC) 21,915,000
Change in NCWC 588,000
EBIT 45,103,000
Tax Provision 8,080,000
Depreciation and Amortization 8,643,000
Capital Expenditure -3,792,000
Unlevered Free Cash Flow 40,335,243
Current Assets 183,356,000
Current Cash 79,617,000
Current Liabilities 98,405,000
Current Debt 15,993,000
Non-Cash Working Capital (NCWC) 21,327,000
Change in NCWC -3,263,000
EBIT 53,394,000
Tax Provision 16,480,000
Depreciation and Amortization 7,874,000
Capital Expenditure -4,656,000
Unlevered Free Cash Flow 36,289,751
Current Assets 164,891,000
Current Cash 60,776,000
Current Liabilities 95,518,000
Current Debt 15,993,000
Non-Cash Working Capital (NCWC) 24,590,000
Change in NCWC 13,700,000
EBIT 40,271,000
Tax Provision 13,219,000
Depreciation and Amortization 3,412,000
Capital Expenditure -5,734,000
Unlevered Free Cash Flow 38,347,756
Current Assets 142,751,000
Current Cash 72,190,000
Current Liabilities 59,671,000
Current Debt 0
Non-Cash Working Capital (NCWC) 10,890,000
Change in NCWC 6,207,000
EBIT 30,154,000
Tax Provision 9,841,000
Depreciation and Amortization 4,024,000
Capital Expenditure -3,181,000
Unlevered Free Cash Flow 27,385,792
Current Assets 93,587,000
Current Cash 40,979,000
Current Liabilities 47,925,000
Current Debt 0
Non-Cash Working Capital (NCWC) 4,683,000
Change in NCWC 2,480,000
EBIT 15,724,000
Tax Provision -32,085,000
Depreciation and Amortization 3,344,000
Capital Expenditure -3,590,000
Unlevered Free Cash Flow 17,958,000
Current Assets 69,887,000
Current Cash 23,207,000
Current Liabilities 44,477,000
Current Debt 0
Non-Cash Working Capital (NCWC) 2,203,000
Change in NCWC 191,000
EBIT 10,588,000
Tax Provision -226,000
Depreciation and Amortization 3,269,000
Capital Expenditure -2,442,000
Unlevered Free Cash Flow 11,606,000

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