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Intrinsic Value of FleetCor Technologies, Inc. (FLT)

Previous Close$249.77
Intrinsic Value
Upside potential
Previous Close
$249.77

VALUATION INPUT DATA

This valuation is based on fiscal year data as of 2022-12-31 and quarterly data as of 2023-06-30.

  1. Annual
  2. Quarterly YoY
  3. Quarterly QoQ

Annual revenue growth rates, % (past and forecasted)

show cash flow forecast

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year2022(a)2023202420252026202720282029203020312032203320342035203620372038203920402041204220432044204520462047

INCOME STATEMENT

Revenue growth rate, %20.9NaN
Revenue, $3427NaN
Variable operating expenses, $mNaN
Fixed operating expenses, $mNaN
Total operating expenses, $m1980NaN
Operating income, $m1447NaN
EBITDA, $m1777NaN
Interest expense (income), $mNaN
Earnings before tax, $m1276NaN
Tax expense, $m321NaN
Net income, $m954NaN

BALANCE SHEET

Cash and short-term investments, $m2289NaN
Total assets, $m14089NaN
Adjusted assets (=assets-cash), $m11800NaN
Average production assets, $m7639NaN
Working capital, $m63NaN
Total debt, $m7060NaN
Total liabilities, $m11548NaN
Total equity, $m2541NaN
Debt-to-equity ratio2.778NaN
Adjusted equity ratio0.219NaN

CASH FLOW

Net income, $m954NaN
Depreciation, amort., depletion, $m330NaN
Funds from operations, $mNaN
Change in working capital, $mNaN
Cash from operations, $m755NaN
Maintenance CAPEX, $mNaN
New CAPEX, $mNaN
Total CAPEX, $m-151NaN
Free cash flow, $m906NaN
Issuance/(repurchase) of shares, $mNaN
Retained Cash Flow, $mNaN
Pot'l extraordinary dividend, $m63
Cash available for distribution, $mNaN
Discount rate, %NaN
PV of cash for distribution, $mNaN
Current shareholders' claim on cash, %NaN

Company description

FLEETCOR Technologies, Inc., a business payments company that helps businesses spend less by enabling them to manage their expense-related purchasing and vendor payments processes. It offers corporate payments solutions, such as accounts payable automation; Virtual Card, which provides a single-use card number for a specific amount usable within a defined timeframe; Cross-Border that is used by its customers to pay international vendors, foreign office and personnel expenses, capital expenditures, and profit repatriation and dividends; and purchasing cards and travel and entertainment cards for its customers to analyze and manage their corporate spending. The company also provides vehicle and mobility solutions, including fuel solutions to businesses and government entities that operate vehicle fleets, as well as to oil and leasing companies, and fuel marketers; lodging solutions to businesses that have employees who travel overnight for work purposes, as well as to airlines and cruise lines to accommodate traveling crews and stranded passengers; and electronic toll payments solutions to businesses and consumers in the form of radio frequency identification tags affixed to vehicles' windshields. In addition, it offers gift card program management and processing services in plastic and digital forms that include card design, production and packaging, delivery and fulfillment, card and account management, transaction processing, promotion development and management, website design and hosting, program analytics, and card distribution channel management. Further, the company provides other products consisting of payroll cards, vehicle maintenance service solution, long-haul transportation solution, prepaid food vouchers or cards, and prepaid transportation cards and vouchers. It serves business, merchant, consumer, and payment network customers in North America, Brazil, and Internationally. The company was founded in 1986 and is headquartered in Atlanta, Georgia.
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