DCF Tool

PRFT

Perficient Inc. – Custom Computer Programming Services
Perficient is the leading digital transformation consulting firm serving Global 2000® and enterprise customers throughout North America. With unparalleled information technology, management consulting, and creative capabilities, Perficient and its Perficient Digital agency deliver vision, execution, and value with outstanding digital experience, business optimization, and industry solutions. Its work enables clients to improve productivity and competitiveness; grow and strengthen relationships with customers, suppliers, and partners; and reduce costs. Perficient's professionals serve clients from a network of offices across North America and offshore locations in India and China. Perficient is a member of the Russell 2000 index and the S&P SmallCap 600 index. Perficient is an award-winning Adobe Premier Partner, Platinum Level IBM business partner, a Microsoft National Service Provider and Gold Certified Partner, an Oracle Platinum Partner, an Advanced Pivotal Ready Partner, a Gold Salesforce Consulting Partner, and a Sitecore Platinum Partner.
Analysis Results
Intrinsic Value $15.28
Latest Price $86.88
Relative Value 468% overvalued
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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 4.7%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 12.0%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 4.7%, 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 52.2 46.6
2023 54.6 43.5
2024 57.2 40.7
2025 59.9 38.1
2026 62.7 35.6
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 640 million. This corresponds to a present value of 324 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 205 million. Adding in the terminal value gives a total present value of 529 million.

There are presently 34.6 million outstanding shares, so the intrinsic value per share is 15.28.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 214,708,000
Current Cash 24,410,000
Current Liabilities 119,951,000
Current Debt 0
Non-Cash Working Capital (NCWC) 70,347,000
Change in NCWC 55,921,000
EBIT 109,944,000
Tax Provision 10,392,000
Depreciation and Amortization 29,851,000
Capital Expenditure -10,204,000
Unlevered Free Cash Flow 167,226,417
Current Assets 226,510,000
Current Cash 83,204,000
Current Liabilities 128,880,000
Current Debt 0
Non-Cash Working Capital (NCWC) 14,426,000
Change in NCWC -42,159,000
EBIT 68,448,000
Tax Provision 10,148,000
Depreciation and Amortization 28,287,000
Capital Expenditure -6,731,000
Unlevered Free Cash Flow 30,621,406
Current Assets 211,897,000
Current Cash 70,728,000
Current Liabilities 84,584,000
Current Debt 0
Non-Cash Working Capital (NCWC) 56,585,000
Change in NCWC -1,412,000
EBIT 56,529,000
Tax Provision 10,816,000
Depreciation and Amortization 20,598,000
Capital Expenditure -9,256,000
Unlevered Free Cash Flow 53,705,455
Current Assets 177,804,000
Current Cash 44,984,000
Current Liabilities 74,823,000
Current Debt 0
Non-Cash Working Capital (NCWC) 57,997,000
Change in NCWC -3,631,000
EBIT 39,632,000
Tax Provision 7,813,000
Depreciation and Amortization 20,428,000
Capital Expenditure -4,648,000
Unlevered Free Cash Flow 42,215,795
Current Assets 129,208,000
Current Cash 6,307,000
Current Liabilities 61,273,000
Current Debt 0
Non-Cash Working Capital (NCWC) 61,628,000
Change in NCWC -4,705,000
EBIT 33,574,000
Tax Provision 8,562,000
Depreciation and Amortization 19,747,000
Capital Expenditure -4,322,000
Unlevered Free Cash Flow 33,703,402
Current Assets 122,499,000
Current Cash 10,113,000
Current Liabilities 46,053,000
Current Debt 0
Non-Cash Working Capital (NCWC) 66,333,000
Change in NCWC -8,032,000
EBIT 31,778,000
Tax Provision 10,050,000
Depreciation and Amortization 18,238,000
Capital Expenditure -4,087,000
Unlevered Free Cash Flow 27,428,977
Current Assets 139,752,000
Current Cash 8,811,000
Current Liabilities 56,576,000
Current Debt 0
Non-Cash Working Capital (NCWC) 74,365,000
Change in NCWC 8,345,000
EBIT 36,932,000
Tax Provision 9,828,000
Depreciation and Amortization 18,315,000
Capital Expenditure -4,391,000
Unlevered Free Cash Flow 48,146,707
Current Assets 132,018,000
Current Cash 10,935,000
Current Liabilities 55,063,000
Current Debt 0
Non-Cash Working Capital (NCWC) 66,020,000
Change in NCWC 15,770,000
EBIT 40,946,000
Tax Provision 14,357,000
Depreciation and Amortization 18,187,000
Capital Expenditure -7,148,000
Unlevered Free Cash Flow 52,087,043
Current Assets 95,233,000
Current Cash 7,018,000
Current Liabilities 37,965,000
Current Debt 0
Non-Cash Working Capital (NCWC) 50,250,000
Change in NCWC 3,786,000
EBIT 34,262,000
Tax Provision 10,065,000
Depreciation and Amortization 11,236,000
Capital Expenditure -7,978,000
Unlevered Free Cash Flow 30,357,432
Current Assets 80,841,000
Current Cash 5,813,000
Current Liabilities 28,564,000
Current Debt 0
Non-Cash Working Capital (NCWC) 46,464,000
Change in NCWC 4,720,000
EBIT 28,472,000
Tax Provision 9,878,000
Depreciation and Amortization 10,078,000
Capital Expenditure -1,923,000
Unlevered Free Cash Flow 30,523,585

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