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.
Analysis Results
Intrinsic Value $499.41
Latest Price $63.88
Relative Value 87% 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 32.4%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 3.7%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 32.4%, 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)
2023 211 203
2024 279 259
2025 369 331
2026 489 423
2027 648 540
Terminal Value

Assuming the company was sold after the projection period at an exit multiple of 30, the terminal value of the company would be 19400 million. This corresponds to a present value of 15600 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 1760 million. Adding in the terminal value gives a total present value of 17400 million.

There are presently 34.8 million outstanding shares, so the intrinsic value per share is 499.41.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 255,616,000
Current Cash 30,130,000
Current Liabilities 129,131,000
Current Debt 0
Non-Cash Working Capital (NCWC) 96,355,000
Change in NCWC 26,008,000
EBIT 148,195,000
Tax Provision 36,569,000
Depreciation and Amortization 33,036,000
Capital Expenditure -9,899,000
Unlevered Free Cash Flow 158,894,309
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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