DCF Tool

PBH

Prestige Consumer Healthcare Inc – Pharmaceutical Preparation Manufacturing
at prestige brands, now prestige consumer healthcare, we focus on product innovation and quality in over-the-counter healthcare products to improve the lives of our customers worldwide. you may not know who prestige consumer healthcare is, but you know and use our products: clear eyes, dentek, summer's eve, monistat, bc, goody's, dramamine, and many more. for generations, our trusted brands have helped consumers care for themselves and their loved ones. our mission is to preserve this trust by continuing to provide products stewarded with our customer needs in mind. prestige consumer healthcare is a different kind of company. we are the largest independent provider of over-the-counter healthcare products in north america yet we are nimble enough to give detailed attention to each and every one of our product offerings. we are constantly improving, creating products that match the ever-changing lifestyles and needs of people and families everywhere. prestige’s success as a company is th
Analysis Results
Intrinsic Value $232.44
Latest Price $70.14
Relative Value 70% 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 9.8%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 6.3%. 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 (million) Present value (million)
2024 395 372
2025 434 384
2026 476 397
2027 523 410
2028 574 424
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 13700 million. This corresponds to a present value of 9550 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 1990 million. Adding in the terminal value gives a total present value of 11500 million.

There are presently 49.6 million outstanding shares, so the intrinsic value per share is 232.44.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 391,743,000
Current Cash 58,489,000
Current Liabilities 160,715,000
Current Debt 2,834,000
Non-Cash Working Capital (NCWC) 175,373,000
Change in NCWC 49,961,000
EBIT 347,802,000
Tax Provision -11,609,000
Depreciation and Amortization 32,625,000
Capital Expenditure -7,784,000
Unlevered Free Cash Flow 422,604,000
Current Assets 293,267,000
Current Cash 27,185,000
Current Liabilities 143,422,000
Current Debt 2,752,000
Non-Cash Working Capital (NCWC) 125,412,000
Change in NCWC 7,429,000
EBIT 329,919,000
Tax Provision 57,077,000
Depreciation and Amortization 32,092,000
Capital Expenditure -9,642,000
Unlevered Free Cash Flow 288,050,189
Current Assets 269,835,000
Current Cash 32,302,000
Current Liabilities 122,138,000
Current Debt 2,588,000
Non-Cash Working Capital (NCWC) 117,983,000
Change in NCWC -4,250,000
EBIT 297,402,000
Tax Provision 39,431,000
Depreciation and Amortization 30,164,000
Capital Expenditure -22,243,000
Unlevered Free Cash Flow 243,620,225
Current Assets 365,654,000
Current Cash 94,760,000
Current Liabilities 149,881,000
Current Debt 1,220,000
Non-Cash Working Capital (NCWC) 122,233,000
Change in NCWC -24,196,000
EBIT 291,155,000
Tax Provision 48,870,000
Depreciation and Amortization 28,995,000
Capital Expenditure -14,560,000
Unlevered Free Cash Flow 206,956,801
Current Assets 300,938,000
Current Cash 27,530,000
Current Liabilities 126,979,000
Current Debt 0
Non-Cash Working Capital (NCWC) 146,429,000
Change in NCWC -1,301,000
EBIT 295,680,000
Tax Provision -2,255,000
Depreciation and Amortization 31,779,000
Capital Expenditure -10,480,000
Unlevered Free Cash Flow 315,678,000
Current Assets 303,477,000
Current Cash 32,548,000
Current Liabilities 123,199,000
Current Debt 0
Non-Cash Working Capital (NCWC) 147,730,000
Change in NCWC 17,160,000
EBIT 315,790,000
Tax Provision -232,484,000
Depreciation and Amortization 33,426,000
Capital Expenditure -12,532,000
Unlevered Free Cash Flow 353,844,000
Current Assets 334,434,000
Current Cash 41,855,000
Current Liabilities 162,009,000
Current Debt 0
Non-Cash Working Capital (NCWC) 130,570,000
Change in NCWC 15,471,000
EBIT 257,433,000
Tax Provision 41,455,000
Depreciation and Amortization 25,792,000
Capital Expenditure -2,977,000
Unlevered Free Cash Flow 199,445,792
Current Assets 249,013,000
Current Cash 27,230,000
Current Liabilities 106,684,000
Current Debt 0
Non-Cash Working Capital (NCWC) 115,099,000
Change in NCWC 33,747,000
EBIT 260,315,000
Tax Provision 57,278,000
Depreciation and Amortization 23,676,000
Capital Expenditure -3,568,000
Unlevered Free Cash Flow 219,311,568
Current Assets 201,707,000
Current Cash 21,318,000
Current Liabilities 99,037,000
Current Debt 0
Non-Cash Working Capital (NCWC) 81,352,000
Change in NCWC 16,856,000
EBIT 207,559,000
Tax Provision 49,198,000
Depreciation and Amortization 17,740,000
Capital Expenditure -6,101,000
Unlevered Free Cash Flow 155,937,509
Current Assets 177,185,000
Current Cash 28,331,000
Current Liabilities 84,358,000
Current Debt 0
Non-Cash Working Capital (NCWC) 64,496,000
Change in NCWC 12,661,000
EBIT 188,616,000
Tax Provision 29,133,000
Depreciation and Amortization 13,486,000
Capital Expenditure -2,764,000
Unlevered Free Cash Flow 157,993,516
Current Assets 164,173,000
Current Cash 15,670,000
Current Liabilities 96,668,000
Current Debt 0
Non-Cash Working Capital (NCWC) 51,835,000
Change in NCWC -12,262,000
EBIT 191,884,000
Tax Provision 40,529,000
Depreciation and Amortization 13,235,000
Capital Expenditure -10,268,000
Unlevered Free Cash Flow 109,245,858

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