Last Price$10.40.0%
Market Cap$13.1B
CNHI Intrinsic Value
Intrinsic Value of CNHI Overview
Key Highlights:
As of Jun 14, 2024 CNHI Relative Value is $11.2, which is undervalued by 7.5%, compared to current share price of $10.4.
As of Jun 14, 2024 CNHI DCF Value is N/A, which is undervalued by N/A, compared to current share price of $10.4.
CNHI Historical Intrinsic Value
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CNHI Valuation Metrics
LTM
NTM
1Y Forward
2Y Forward
EV/Revenue
1.5x (as of Jun 14, 2024)
EV/Gross Profit
4.8x (as of Jun 14, 2024)
EV/EBIT
11.6x (as of Jun 14, 2024)
EV/EBITDA
7.4x (as of Jun 14, 2024)
EV/FCF
(77.0x) (as of Jun 14, 2024)
EV/OCF
52.4x (as of Jun 14, 2024)
P/Revenue
0.5x (as of Jun 14, 2024)
P/Gross Profit
1.7x (as of Jun 14, 2024)
P/EBIT
4.1x (as of Jun 14, 2024)
P/EBITDA
2.6x (as of Jun 14, 2024)
P/FCF
(27.0x) (as of Jun 14, 2024)
P/OCF
18.4x (as of Jun 14, 2024)
P/E
5.7x (as of Jun 14, 2024)
P/BV
1.6x (as of Jun 14, 2024)
PEG 1Y
(0.4x) (as of Jun 14, 2024)
CNHI DCF Model
Free Cash Flow to Firm Model
NOPAT Model
Free Cash Flow to Equity Model
Net Income Model
Millions
Billions
| Dec'19 Actual | Dec'20 Actual | Dec'21 Actual | Dec'22 Actual | Dec'23 Actual | Dec'24 Estimate | Dec'25 Estimate | Dec'26 Estimate | Dec'27 Estimate | Dec'28 Estimate | Dec'29 Estimate | Dec'30 Estimate | Dec'31 Estimate | Dec'32 Estimate | Dec'33 Estimate | Dec'34 Terminal | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
% growth | 28,079.0 (5.5%) | 26,032.0 (7.3%) | 33,428.0 28.4% | 23,551.0 (29.5%) | 24,694.0 4.9% | 20,988.4 (15.0%) | 21,085.3 0.5% | 22,911.7 8.7% | 22,332.0 (2.5%) | 23,133.0 3.6% | 23,901.6 3.3% | 24,632.4 3.1% | 25,320.5 2.8% | 25,960.8 2.5% | 26,548.7 2.3% | 27,079.7 2.0% |
% margin | 862.0 3.1% | (365.0) (1.4%) | 1,502.0 4.5% | 4,136.0 17.6% | 4,985.0 20.2% | 1,843.2 8.8% | 1,851.7 8.8% | 2,012.1 8.8% | 1,961.2 8.8% | 2,031.5 8.8% | 2,099.0 8.8% | 2,163.2 8.8% | 2,223.6 8.8% | 2,279.9 8.8% | 2,331.5 8.8% | 2,378.1 8.8% |
NOPAT % effective tax rate | 1,061.7 3.8% | (328.9) (1.3%) | 1,242.6 3.7% | 2,984.0 12.7% | 3,889.5 15.8% | 1,438.2 6.9% | 1,444.8 6.9% | 1,569.9 6.9% | 1,530.2 6.9% | 1,585.1 6.9% | 1,637.8 6.9% | 1,687.8 6.9% | 1,735.0 6.9% | 1,778.9 6.9% | 1,819.1 6.9% | 1,855.5 6.9% |
% of revenue | 1,215.0 4.3% | 1,172.0 4.5% | 1,148.0 3.4% | (689.0) (2.9%) | 564.0 2.3% | 195.4 0.9% | 196.3 0.9% | 213.3 0.9% | 207.9 0.9% | 215.3 0.9% | 222.5 0.9% | 229.3 0.9% | 235.7 0.9% | 241.7 0.9% | 247.1 0.9% | 252.1 0.9% |
% of revenue | (1,962.0) (7.0%) | (1,850.0) (7.1%) | (2,033.0) (6.1%) | (999.0) (4.2%) | (1,195.0) (4.8%) | (1,060.8) (5.1%) | (1,065.7) (5.1%) | (1,158.0) (5.1%) | (1,128.7) (5.1%) | (1,169.2) (5.1%) | (1,208.0) (5.1%) | (1,245.0) (5.1%) | (1,279.8) (5.1%) | (1,312.1) (5.1%) | (1,341.8) (5.1%) | (1,368.7) (5.1%) |
% of revenue | (1,061.0) (3.8%) | 3,618.0 13.9% | 929.0 2.8% | (2,102.0) (8.9%) | (2,012.0) (8.1%) | (1,000.0) (4.8%) | (1,004.6) (4.8%) | (1,091.7) (4.8%) | (1,064.0) (4.8%) | (1,102.2) (4.8%) | (1,138.8) (4.8%) | (1,173.6) (4.8%) | (1,206.4) (4.8%) | (1,236.9) (4.8%) | (1,265.0) (4.8%) | (1,290.3) (4.8%) |
Free Cash Flow to Firm (FCFF) % of revenue | (746.3) (2.7%) | 2,611.1 10.0% | 1,286.6 3.8% | (806.0) (3.4%) | 1,246.5 5.0% | (427.3) (2.0%) | (429.3) (2.0%) | (466.5) (2.0%) | (454.7) (2.0%) | (471.0) (2.0%) | (486.6) (2.0%) | (501.5) (2.0%) | (515.5) (2.0%) | (528.5) (2.0%) | (540.5) (2.0%) | (551.3) (2.0%) |
% of FCFF used in calculation | ||||||||||||||||
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Discounted FCFF (DFCFF) |
CNHI DCF Value
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CNHI Earnings Power Value and Enterprise Value
Annual
LTM
Enterprise Value Breakdown
EPV and MIVoG as % of EV
CNHI Reverse DCF
Implied FCF growth
Implied Revenue growth
Reverse DCF Assumptions and Outputs
as of Mar 31, 2024
(486.0M)
Long-Term growth rate
2.0%
FX rate
1.0
Last share price
12.4
Implied FCF growth 1-10Y
0.0%
Implied Free Cash Flow growth vs Historical average vs Industry growth
Competing with CNHI Intrinsic Value
Overview
Ratings
Intrinsic Value
Valuation
Growth
Profitability
Health
Capital allocation
Momentum
Earnings
Dividends
Company name | Market Cap | Enterprise Value | Intrinsic Value | DCF Value | Relative value | Ben Graham Revised fair value | Peter Lynch fair value | Earnings Power Value (EPV),
% of EV | Market-Implied Value of Growth (MIVoG),
% of EV | Reverse DCF (implied FCF growth) | Reverse DCF (implied Revenue growth) |
$13.1B | $37.4B | $11.1 7.1% undervalued | N/A | $11.1 7.1% undervalued | Negative 224.5% overvalued | Negative 153.4% overvalued | N/A | N/A | 0.0% | 0.0% | |
$169.6B | $201.1B | $234.9 33.0% overvalued | $246.3 30.0% overvalued | $223.4 36.2% overvalued | $122.6 65.0% overvalued | $141.2 59.7% overvalued | 63.7% | 36.3% | 3.2% | 2.4% | |
$135.7B | $140.7B | $416.7 16.6% overvalued | $537.6 8.0% undervalued | $295.8 40.8% overvalued | Negative 167.3% overvalued | Negative 124.8% overvalued | 43.4% | 56.6% | 3.6% | 4.8% | |
$57.8B | $48.2B | $116.7 6.0% undervalued | $113.4 3.0% undervalued | $119.9 9.0% undervalued | $26.0 76.4% overvalued | $92.4 16.1% overvalued | 92.9% | 7.1% | (0.3%) | 0.4% | |
$7,651.2M | $7,166.0M | $90.8 11.6% overvalued | $47.0 54.0% overvalued | $134.6 31.1% undervalued | $220.6 114.8% undervalued | $235.0 128.8% undervalued | 64.6% | 35.4% | 2.2% | (3.4%) | |
$6,444.4M | $7,938.6M | $203.6 107.0% undervalued | $237.9 142.0% undervalued | $169.2 72.1% undervalued | $275.5 180.2% undervalued | $93.2 5.2% overvalued | 114.7% | (14.7%) | (100.0%) | (100.0%) | |
$2,740.9M | $2,356.9M | $70.1 71.1% undervalued | $42.3 3.0% undervalued | $97.9 138.9% undervalued | $55.7 36.0% undervalued | $56.5 38.0% undervalued | 134.4% | (34.4%) | 4.2% | 3.4% | |
$2,200.1M | $2,017.8M | $153.6 16.4% overvalued | $106.8 42.0% overvalued | $200.4 9.1% undervalued | $165.8 9.7% overvalued | $142.1 22.6% overvalued | 63.1% | 36.9% | (2.2%) | 1.5% | |
$1,692.4M | $1,824.9M | $33.5 7.9% undervalued | $31.4 1.0% undervalued | $35.5 14.6% undervalued | Negative 321.5% overvalued | Negative 147.2% overvalued | 45.5% | 54.5% | 10.5% | 22.5% | |
$1,432.7M | $1,368.6M | $102.8 22.1% overvalued | $111.4 16.0% overvalued | $94.3 28.6% overvalued | $36.5 72.3% overvalued | $29.2 77.9% overvalued | 69.2% | 30.8% | 2.1% | 1.3% | |
$513.6M | $958.2M | $34.4 92.0% undervalued | $35.4 97.0% undervalued | $33.5 87.0% undervalued | $25.3 40.8% undervalued | $14.8 17.3% overvalued | 52.0% | 48.0% | 11.7% | 6.2% |
Intrinsic Valuation Tools
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