DCF Tool

SYNA

Synaptics Inc – Custom Computer Programming Services
Synaptics is changing the way humans engage with connected devices and data, engineering exceptional experiences throughout the home, at work, in the car and on the go. Synaptics is the partner of choice for the world’s most innovative intelligent system providers who are integrating multiple experiential technologies into platforms that make our digital lives more productive, insightful, secure and enjoyable. These customers are combining Synaptics’ differentiated technologies in touch, display and biometrics with a new generation of advanced connectivity and AI-enhanced video, vision, audio, speech and security processing.
Analysis Results
Intrinsic Value $47.17
Latest Price $99.01
Relative Value 110% 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 7.7%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 12.2%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 7.7%, 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)
2023 175 156
2024 188 149
2025 202 143
2026 218 137
2027 235 132
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 2340 million. This corresponds to a present value of 1170 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 717 million. Adding in the terminal value gives a total present value of 1890 million.

There are presently 40.0 million outstanding shares, so the intrinsic value per share is 47.17.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 1,403,400,000
Current Cash 876,000,000
Current Liabilities 463,400,000
Current Debt 6,000,000
Non-Cash Working Capital (NCWC) 70,000,000
Change in NCWC 26,200,000
EBIT 370,300,000
Tax Provision 64,600,000
Depreciation and Amortization 147,500,000
Capital Expenditure -31,100,000
Unlevered Free Cash Flow 438,633,064
Current Assets 1,179,700,000
Current Cash 836,300,000
Current Liabilities 786,700,000
Current Debt 487,100,000
Non-Cash Working Capital (NCWC) 43,800,000
Change in NCWC -26,300,000
EBIT 111,100,000
Tax Provision 31,400,000
Depreciation and Amortization 131,700,000
Capital Expenditure -21,100,000
Unlevered Free Cash Flow 163,971,711
Current Assets 1,077,600,000
Current Cash 763,400,000
Current Liabilities 244,100,000
Current Debt 0
Non-Cash Working Capital (NCWC) 70,100,000
Change in NCWC -79,300,000
EBIT 99,900,000
Tax Provision 38,600,000
Depreciation and Amortization 78,100,000
Capital Expenditure -16,300,000
Unlevered Free Cash Flow 57,901,016
Current Assets 731,100,000
Current Cash 327,800,000
Current Liabilities 253,900,000
Current Debt 0
Non-Cash Working Capital (NCWC) 149,400,000
Change in NCWC -5,300,000
EBIT 12,100,000
Tax Provision 300,000
Depreciation and Amortization 110,000,000
Capital Expenditure -23,700,000
Unlevered Free Cash Flow 93,100,000
Current Assets 739,500,000
Current Cash 301,000,000
Current Liabilities 283,800,000
Current Debt 0
Non-Cash Working Capital (NCWC) 154,700,000
Change in NCWC 25,900,000
EBIT -51,700,000
Tax Provision 40,500,000
Depreciation and Amortization 122,800,000
Capital Expenditure -41,800,000
Unlevered Free Cash Flow 55,200,000
Current Assets 792,000,000
Current Cash 367,800,000
Current Liabilities 310,400,000
Current Debt 15,000,000
Non-Cash Working Capital (NCWC) 128,800,000
Change in NCWC 32,900,000
EBIT 81,700,000
Tax Provision 12,200,000
Depreciation and Amortization 92,500,000
Capital Expenditure -31,400,000
Unlevered Free Cash Flow 159,360,000
Current Assets 780,100,000
Current Cash 352,200,000
Current Liabilities 350,800,000
Current Debt 18,800,000
Non-Cash Working Capital (NCWC) 95,900,000
Change in NCWC 15,200,000
EBIT 90,000,000
Tax Provision 3,400,000
Depreciation and Amortization 104,200,000
Capital Expenditure -33,200,000
Unlevered Free Cash Flow 172,152,380
Current Assets 916,000,000
Current Cash 399,900,000
Current Liabilities 446,700,000
Current Debt 11,300,000
Non-Cash Working Capital (NCWC) 80,700,000
Change in NCWC 39,882,000
EBIT 143,400,000
Tax Provision 49,800,000
Depreciation and Amortization 112,400,000
Capital Expenditure -51,900,000
Unlevered Free Cash Flow 199,204,471
Current Assets 742,431,000
Current Cash 447,205,000
Current Liabilities 254,408,000
Current Debt 0
Non-Cash Working Capital (NCWC) 40,818,000
Change in NCWC -14,673,000
EBIT 142,347,000
Tax Provision 27,770,000
Depreciation and Amortization 21,636,000
Capital Expenditure -38,675,000
Unlevered Free Cash Flow 57,545,699
Current Assets 560,420,000
Current Cash 355,303,000
Current Liabilities 149,626,000
Current Debt 0
Non-Cash Working Capital (NCWC) 55,491,000
Change in NCWC 19,917,000
EBIT 100,460,000
Tax Provision 2,800,000
Depreciation and Amortization 10,846,000
Capital Expenditure -48,519,000
Unlevered Free Cash Flow 79,939,036
Current Assets 446,177,000
Current Cash 305,005,000
Current Liabilities 105,598,000
Current Debt 0
Non-Cash Working Capital (NCWC) 35,574,000
Change in NCWC 1,304,000
EBIT 67,568,000
Tax Provision 14,406,000
Depreciation and Amortization 10,409,000
Capital Expenditure -10,359,000
Unlevered Free Cash Flow 54,722,370

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