DCF Tool

TTEC

TTEC Holdings Inc – Data Processing, Hosting, and Related Services
ttec/transtec has been developing and producing high-quality it systems for over 30 years now. customers can combine our it modules - clients, servers and storage systems - with services to create efficient and reliable it systems. we develop individual solutions exactly according to customer requirements which range from special systems to complete it development plans and we support our customers throughout the it system's life cycle. our customers based throughout europe need the technological and conceptual skills we offer. it's our passion for high-performance, supercomputing systems and sophisticated solutions that connects us to the universities and research & development institutes and departments we work with. small and medium-sized businesses as well as the public sector in particular respect our intelligent, affordable and uncomplicated solutions used in the virtualisation of servers, clients and storage systems. we transform cutting-edge it components into powerful a
Analysis Results
Intrinsic Value $198.13
Latest Price $26.08
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 18.1%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 7.1%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 18.1%, 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 300 280
2024 355 309
2025 419 341
2026 495 376
2027 584 414
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 11600 million. This corresponds to a present value of 7680 million.

Intrinsic Value Per Share

The total present value of the projected cash flows is 1720 million. Adding in the terminal value gives a total present value of 9390 million.

There are presently 47.4 million outstanding shares, so the intrinsic value per share is 198.13.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 749,970,000
Current Cash 153,435,000
Current Liabilities 411,364,000
Current Debt 0
Non-Cash Working Capital (NCWC) 185,171,000
Change in NCWC 89,785,000
EBIT 187,965,000
Tax Provision 27,115,000
Depreciation and Amortization 111,791,000
Capital Expenditure -84,012,000
Unlevered Free Cash Flow 270,245,223
Current Assets 697,987,000
Current Cash 158,205,000
Current Liabilities 444,396,000
Current Debt 0
Non-Cash Working Capital (NCWC) 95,386,000
Change in NCWC -32,332,000
EBIT 232,253,000
Tax Provision 49,695,000
Depreciation and Amortization 96,706,000
Capital Expenditure -60,358,000
Unlevered Free Cash Flow 180,748,551
Current Assets 656,802,000
Current Cash 132,914,000
Current Liabilities 396,170,000
Current Debt 0
Non-Cash Working Capital (NCWC) 127,718,000
Change in NCWC 23,589,000
EBIT 213,765,000
Tax Provision 40,937,000
Depreciation and Amortization 78,862,000
Capital Expenditure -59,772,000
Unlevered Free Cash Flow 205,049,153
Current Assets 549,825,000
Current Cash 82,407,000
Current Liabilities 363,289,000
Current Debt 0
Non-Cash Working Capital (NCWC) 104,129,000
Change in NCWC -108,693,000
EBIT 129,191,000
Tax Provision 25,677,000
Depreciation and Amortization 69,086,000
Capital Expenditure -60,776,000
Unlevered Free Cash Flow -1,236,445
Current Assets 526,477,000
Current Cash 78,237,000
Current Liabilities 235,418,000
Current Debt 0
Non-Cash Working Capital (NCWC) 212,822,000
Change in NCWC -53,753,000
EBIT 99,637,000
Tax Provision 16,483,000
Depreciation and Amortization 69,179,000
Capital Expenditure -43,450,000
Unlevered Free Cash Flow 42,410,029
Current Assets 542,790,000
Current Cash 74,437,000
Current Liabilities 201,778,000
Current Debt 0
Non-Cash Working Capital (NCWC) 266,575,000
Change in NCWC 68,141,000
EBIT 120,476,000
Tax Provision 78,075,000
Depreciation and Amortization 64,507,000
Capital Expenditure -51,958,000
Unlevered Free Cash Flow 95,344,409
Current Assets 433,727,000
Current Cash 55,264,000
Current Liabilities 180,029,000
Current Debt 0
Non-Cash Working Capital (NCWC) 198,434,000
Change in NCWC 50,572,000
EBIT 89,194,000
Tax Provision 12,863,000
Depreciation and Amortization 68,675,000
Capital Expenditure -50,832,000
Unlevered Free Cash Flow 134,798,899
Current Assets 415,072,000
Current Cash 60,304,000
Current Liabilities 206,906,000
Current Debt 0
Non-Cash Working Capital (NCWC) 147,862,000
Change in NCWC -21,674,000
EBIT 100,094,000
Tax Provision 20,004,000
Depreciation and Amortization 63,808,000
Capital Expenditure -66,595,000
Unlevered Free Cash Flow 52,320,580
Current Assets 445,483,000
Current Cash 77,316,000
Current Liabilities 198,631,000
Current Debt 0
Non-Cash Working Capital (NCWC) 169,536,000
Change in NCWC 48,789,000
EBIT 100,198,000
Tax Provision 23,042,000
Depreciation and Amortization 56,538,000
Capital Expenditure -67,641,000
Unlevered Free Cash Flow 114,901,864
Current Assets 469,551,000
Current Cash 158,017,000
Current Liabilities 190,787,000
Current Debt 0
Non-Cash Working Capital (NCWC) 120,747,000
Change in NCWC -46,907,000
EBIT 107,039,000
Tax Provision 20,598,000
Depreciation and Amortization 46,064,000
Capital Expenditure -50,364,000
Unlevered Free Cash Flow 31,884,859
Current Assets 503,544,000
Current Cash 164,485,000
Current Liabilities 171,405,000
Current Debt 0
Non-Cash Working Capital (NCWC) 167,654,000
Change in NCWC 15,754,000
EBIT 104,378,000
Tax Provision -61,000
Depreciation and Amortization 41,166,000
Capital Expenditure -40,653,000
Unlevered Free Cash Flow 120,645,000

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