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CarParts.com Inc – Automotive Parts and Accessories Stores
With over 25 years of experience, and more than 50 million parts delivered, it has streamlined its website and sourcing network to better serve the way drivers get the parts they need. Utilizing the latest technologies and design principles, it has created an easy-to-use, mobile-friendly shopping experience that, alongside its own nationwide distribution network, cuts out the brick-and-mortar supply chain costs and provides quality parts at a budget-friendly price.
Analysis Results
Intrinsic Value $5.00
Latest Price $5.17
Relative Value 3% 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 24.7%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 13.4%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 24.7%, 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 17.5 15.5
2023 21.9 17.0
2024 27.3 18.7
2025 34.1 20.6
2026 42.5 22.6
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 379 million. This corresponds to a present value of 178 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 94.4 million. Adding in the terminal value gives a total present value of 273 million.

There are presently 54.5 million outstanding shares, so the intrinsic value per share is 5.0.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 168,602,000
Current Cash 18,144,000
Current Liabilities 96,794,000
Current Debt 2,953,000
Non-Cash Working Capital (NCWC) 56,617,000
Change in NCWC 23,440,000
EBIT -9,111,000
Tax Provision 351,000
Depreciation and Amortization 10,005,000
Capital Expenditure -11,578,000
Unlevered Free Cash Flow 12,756,000
Current Assets 139,375,000
Current Cash 35,802,000
Current Liabilities 71,979,000
Current Debt 1,583,000
Non-Cash Working Capital (NCWC) 33,177,000
Change in NCWC 31,654,000
EBIT 295,000
Tax Provision 307,000
Depreciation and Amortization 7,759,000
Capital Expenditure -9,758,000
Unlevered Free Cash Flow 29,950,000
Current Assets 62,373,000
Current Cash 2,273,000
Current Liabilities 59,946,000
Current Debt 1,369,000
Non-Cash Working Capital (NCWC) 1,523,000
Change in NCWC -7,505,000
EBIT -8,250,000
Tax Provision 21,437,000
Depreciation and Amortization 6,352,000
Capital Expenditure -6,160,000
Unlevered Free Cash Flow -15,563,000
Current Assets 58,785,000
Current Cash 2,032,000
Current Liabilities 48,319,000
Current Debt 594,000
Non-Cash Working Capital (NCWC) 9,028,000
Change in NCWC -2,326,000
EBIT -5,006,000
Tax Provision -329,000
Depreciation and Amortization 5,987,000
Capital Expenditure -5,689,000
Unlevered Free Cash Flow -7,034,000
Current Assets 62,532,000
Current Cash 2,859,000
Current Liabilities 48,898,000
Current Debt 579,000
Non-Cash Working Capital (NCWC) 11,354,000
Change in NCWC 616,000
EBIT 4,635,000
Tax Provision -21,540,000
Depreciation and Amortization 6,716,000
Capital Expenditure -4,896,000
Unlevered Free Cash Flow 7,071,000
Current Assets 63,658,000
Current Cash 6,673,000
Current Liabilities 46,789,000
Current Debt 542,000
Non-Cash Working Capital (NCWC) 10,738,000
Change in NCWC -9,545,000
EBIT 1,520,000
Tax Provision -199,000
Depreciation and Amortization 7,992,000
Capital Expenditure -6,478,000
Unlevered Free Cash Flow -6,511,000
Current Assets 62,529,000
Current Cash 5,602,000
Current Liabilities 48,924,000
Current Debt 12,280,000
Non-Cash Working Capital (NCWC) 20,283,000
Change in NCWC 2,062,000
EBIT -2,055,000
Tax Provision -811,000
Depreciation and Amortization 7,974,000
Capital Expenditure -7,805,000
Unlevered Free Cash Flow 176,000
Current Assets 62,550,000
Current Cash 7,715,000
Current Liabilities 47,905,000
Current Debt 11,291,000
Non-Cash Working Capital (NCWC) 18,221,000
Change in NCWC 2,282,000
EBIT -5,912,000
Tax Provision 138,000
Depreciation and Amortization 9,345,000
Capital Expenditure -5,756,000
Unlevered Free Cash Flow -41,000
Current Assets 46,114,000
Current Cash 865,000
Current Liabilities 36,353,000
Current Debt 7,043,000
Non-Cash Working Capital (NCWC) 15,939,000
Change in NCWC 4,814,000
EBIT -8,690,000
Tax Provision 43,000
Depreciation and Amortization 12,556,000
Capital Expenditure -8,325,000
Unlevered Free Cash Flow 355,000
Current Assets 55,513,000
Current Cash 1,140,000
Current Liabilities 59,540,000
Current Debt 16,292,000
Non-Cash Working Capital (NCWC) 11,125,000
Change in NCWC 7,534,000
EBIT -9,363,000
Tax Provision -937,000
Depreciation and Amortization 16,393,000
Capital Expenditure -10,189,000
Unlevered Free Cash Flow 4,375,000

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