DCF Tool

VMC

Vulcan Materials Co – Other Crushed and Broken Stone Mining and Quarrying
Vulcan Materials Company, a member of the S&P 500 index with headquarters in Birmingham, Alabama, is the nation's largest producer of construction aggregates – primarily crushed stone, sand and gravel – and a major producer of aggregates-based construction materials, including asphalt and ready-mixed concrete.
Analysis Results
Intrinsic Value $159.46
Latest Price $160.03
Relative Value 0% overvalued
Thoughts on this result? Let us know.
Ad
Cash Flow (Billions)
Analysis Parameters
%
%
%
New Ticker
Ad
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 14.5%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 8.5%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 14.5%, 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)
2022 0.969 0.894
2023 1.11 0.944
2024 1.27 0.997
2025 1.46 1.05
2026 1.67 1.11
Terminal Value

Assuming a growth rate after the projection years of 2.0%, the terminal value of the company would be 26.4 billion. This corresponds to a present value of 16.2 billion.

Intrinsic Value Per Share

The total present value of the projected cash flows is 5.0 billion. Adding in the terminal value gives a total present value of 21.2 billion.

There are presently 133.0 million outstanding shares, so the intrinsic value per share is 159.46.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 1,696,600,000
Current Cash 235,000,000
Current Liabilities 769,300,000
Current Debt 5,200,000
Non-Cash Working Capital (NCWC) 697,500,000
Change in NCWC 149,851,000
EBIT 890,700,000
Tax Provision 200,100,000
Depreciation and Amortization 463,000,000
Capital Expenditure -451,300,000
Unlevered Free Cash Flow 848,280,903
Current Assets 2,277,165,000
Current Cash 1,197,068,000
Current Liabilities 1,047,883,000
Current Debt 515,435,000
Non-Cash Working Capital (NCWC) 547,649,000
Change in NCWC -24,550,000
EBIT 891,734,000
Tax Provision 155,803,000
Depreciation and Amortization 396,806,000
Capital Expenditure -362,194,000
Unlevered Free Cash Flow 715,004,919
Current Assets 1,379,326,000
Current Cash 271,589,000
Current Liabilities 535,563,000
Current Debt 25,000
Non-Cash Working Capital (NCWC) 572,199,000
Change in NCWC 2,618,000
EBIT 853,706,000
Tax Provision 135,198,000
Depreciation and Amortization 374,596,000
Capital Expenditure -384,094,000
Unlevered Free Cash Flow 694,497,649
Current Assets 1,079,145,000
Current Cash 40,037,000
Current Liabilities 602,550,000
Current Debt 133,023,000
Non-Cash Working Capital (NCWC) 569,581,000
Change in NCWC -67,385,000
EBIT 732,769,000
Tax Provision 105,449,000
Depreciation and Amortization 346,246,000
Capital Expenditure -469,088,000
Unlevered Free Cash Flow 418,571,202
Current Assets 1,180,101,000
Current Cash 141,646,000
Current Liabilities 442,872,000
Current Debt 41,383,000
Non-Cash Working Capital (NCWC) 636,966,000
Change in NCWC 130,876,000
EBIT 629,281,000
Tax Provision -232,075,000
Depreciation and Amortization 305,965,000
Capital Expenditure -459,566,000
Unlevered Free Cash Flow 606,556,000
Current Assets 1,137,182,000
Current Cash 258,986,000
Current Liabilities 372,244,000
Current Debt 138,000
Non-Cash Working Capital (NCWC) 506,090,000
Change in NCWC 58,908,000
EBIT 663,005,000
Tax Provision 124,851,000
Depreciation and Amortization 284,940,000
Capital Expenditure -350,148,000
Unlevered Free Cash Flow 505,447,296
Current Assets 1,084,591,000
Current Cash 284,060,000
Current Liabilities 353,479,000
Current Debt 130,000
Non-Cash Working Capital (NCWC) 447,182,000
Change in NCWC -30,273,000
EBIT 544,839,000
Tax Provision 94,943,000
Depreciation and Amortization 274,823,000
Capital Expenditure -289,262,000
Unlevered Free Cash Flow 342,348,916
Current Assets 920,469,000
Current Cash 141,273,000
Current Liabilities 451,878,000
Current Debt 150,137,000
Non-Cash Working Capital (NCWC) 477,455,000
Change in NCWC 18,662,000
EBIT 295,224,000
Tax Provision 91,692,000
Depreciation and Amortization 279,497,000
Capital Expenditure -224,852,000
Unlevered Free Cash Flow 277,947,878
Current Assets 951,496,000
Current Cash 193,738,000
Current Liabilities 299,135,000
Current Debt 170,000
Non-Cash Working Capital (NCWC) 458,793,000
Change in NCWC 35,108,000
EBIT 152,663,000
Tax Provision -24,459,000
Depreciation and Amortization 307,108,000
Capital Expenditure -275,380,000
Unlevered Free Cash Flow 219,499,000
Current Assets 984,972,000
Current Cash 275,478,000
Current Liabilities 436,411,000
Current Debt 150,602,000
Non-Cash Working Capital (NCWC) 423,685,000
Change in NCWC -12,085,000
EBIT 69,263,000
Tax Provision -66,492,000
Depreciation and Amortization 331,959,000
Capital Expenditure -93,357,000
Unlevered Free Cash Flow 295,780,000

This analysis is provided for informational purposes only and does not constitute financial or investing advice. For more information on the advantages and limitations of DCF analysis see background. This information is provided on an "as is" basis. No warranty, expressed or implied, is made regarding accuracy, adequacy, completeness, legality, reliability or usefulness of any information. By using this site you agree that under no circumstances shall Valuation Tools LLC be held liable for any loss or damage caused by information obtained from this website including any articles, data, videos, its social media accounts, or any other materials.