DCF Tool


RH – Furniture Stores
we believe restoration hardware is one of the fastest growing and most innovative luxury brands in the home furnishings marketplace. we believe our brand stands alone and is redefining this highly fragmented and growing market. restoration hardware is positioned as a lifestyle brand and design authority, offering dominant assortments across a growing number of categories, including furniture, lighting, textiles, bathware, decor, outdoor and garden, as well as baby and child products. we operate as a curator of the finest historical design the world has to offer. our collections of timeless, updated classics and reproductions are presented consistently across our sales channels in sophisticated and unique lifestyle settings that we believe are on par with world-class interior designers. our culture of innovation, superior product development capabilities, integrated multi-channel infrastructure and significant scale enable us to offer what we believe is an unmatched combination of des
Analysis Results
Intrinsic Value $8,229.45
Latest Price $256.70
Relative Value 97% undervalued
Thoughts on this result? Let us know.
Cash Flow (Billions)
Analysis Parameters
New Ticker
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 69.3%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 8.3%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 69.3%, 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 (billion) Present value (billion)
2024 1.58 1.46
2025 2.67 2.28
2026 4.52 3.56
2027 7.64 5.56
2028 12.9 8.69
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 210 billion. This corresponds to a present value of 130 billion.

Intrinsic Value Per Share

The total present value of the projected cash flows is 21.5 billion. Adding in the terminal value gives a total present value of 151 billion.

There are presently 18.4 million outstanding shares, so the intrinsic value per share is 8229.45.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 2,512,664,000
Current Cash 1,508,101,000
Current Liabilities 885,973,000
Current Debt 44,863,000
Non-Cash Working Capital (NCWC) 163,453,000
Change in NCWC 251,533,000
EBIT 720,102,000
Tax Provision -91,358,000
Depreciation and Amortization 108,588,000
Capital Expenditure -173,642,000
Unlevered Free Cash Flow 906,581,000
Current Assets 3,091,442,000
Current Cash 2,177,889,000
Current Liabilities 1,063,758,000
Current Debt 62,125,000
Non-Cash Working Capital (NCWC) -88,080,000
Change in NCWC 95,096,000
EBIT 918,967,000
Tax Provision 133,558,000
Depreciation and Amortization 96,022,000
Capital Expenditure -185,383,000
Unlevered Free Cash Flow 775,407,756
Current Assets 801,484,000
Current Cash 100,446,000
Current Liabilities 921,632,000
Current Debt 37,418,000
Non-Cash Working Capital (NCWC) -183,176,000
Change in NCWC -71,287,000
EBIT 465,970,000
Tax Provision 104,598,000
Depreciation and Amortization 100,040,000
Capital Expenditure -111,126,000
Unlevered Free Cash Flow 254,112,816
Current Assets 596,952,000
Current Cash 47,658,000
Current Liabilities 982,912,000
Current Debt 321,729,000
Non-Cash Working Capital (NCWC) -111,889,000
Change in NCWC -215,288,000
EBIT 362,831,000
Tax Provision 48,807,000
Depreciation and Amortization 100,739,000
Capital Expenditure -93,623,000
Unlevered Free Cash Flow 88,871,939
Current Assets 682,693,000
Current Cash 5,803,000
Current Liabilities 918,172,000
Current Debt 344,681,000
Non-Cash Working Capital (NCWC) 103,399,000
Change in NCWC -10,322,000
EBIT 289,230,000
Tax Provision 30,514,000
Depreciation and Amortization 74,346,000
Capital Expenditure -136,736,000
Unlevered Free Cash Flow 167,799,158
Current Assets 644,930,000
Current Cash 17,907,000
Current Liabilities 519,335,000
Current Debt 6,033,000
Non-Cash Working Capital (NCWC) 113,721,000
Change in NCWC -378,667,000
EBIT 131,301,000
Tax Provision 27,971,000
Depreciation and Amortization 70,135,000
Capital Expenditure -112,494,000
Unlevered Free Cash Flow -411,532,577
Current Assets 1,138,257,000
Current Cash 229,700,000
Current Liabilities 416,169,000
Current Debt 0
Non-Cash Working Capital (NCWC) 492,388,000
Change in NCWC 111,782,000
EBIT 53,036,000
Tax Provision 3,153,000
Depreciation and Amortization 56,995,000
Capital Expenditure -157,966,000
Unlevered Free Cash Flow 44,297,957
Current Assets 1,313,677,000
Current Cash 480,698,000
Current Liabilities 452,555,000
Current Debt 182,000
Non-Cash Working Capital (NCWC) 380,606,000
Change in NCWC 23,638,000
EBIT 185,561,000
Tax Provision 58,781,000
Depreciation and Amortization 44,595,000
Capital Expenditure -133,799,000
Unlevered Free Cash Flow 47,222,314
Current Assets 912,244,000
Current Cash 211,102,000
Current Liabilities 344,429,000
Current Debt 255,000
Non-Cash Working Capital (NCWC) 356,968,000
Change in NCWC 72,183,000
EBIT 165,726,000
Tax Provision 57,173,000
Depreciation and Amortization 34,463,000
Capital Expenditure -110,359,000
Unlevered Free Cash Flow 98,067,984
Current Assets 613,815,000
Current Cash 13,389,000
Current Liabilities 317,448,000
Current Debt 1,807,000
Non-Cash Working Capital (NCWC) 284,785,000
Change in NCWC 16,880,000
EBIT 54,851,000
Tax Provision 30,923,000
Depreciation and Amortization 27,654,000
Capital Expenditure -93,868,000
Unlevered Free Cash Flow -29,015,299

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