Discounted Cash Flow (DCF) Analysis Levered
Conagra Brands, Inc. (CAG)
$36.355
+0.10 (+0.26%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 7,938.30 | 9,538.40 | 11,054.40 | 11,184.70 | 11,535.90 | 12,700.13 | 13,981.87 | 15,392.95 | 16,946.45 | 18,656.73 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 954.20 | 1,125.50 | 1,842.60 | 1,468.10 | 1,177.30 | 1,621.04 | 1,784.64 | 1,964.75 | 2,163.04 | 2,381.34 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -251.60 | -353.10 | -369.50 | -506.40 | -464.40 | -476.69 | -524.80 | -577.76 | -636.07 | -700.27 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 702.60 | 772.40 | 1,473.10 | 961.70 | 712.90 | 1,144.35 | 1,259.84 | 1,386.99 | 1,526.97 | 1,681.07 |
Weighted Average Cost Of Capital
| Share price | $ 36.355 |
|---|---|
| Beta | 0.551 |
| Diluted Shares Outstanding | 482.20 |
| Cost of Debt | |
| Tax Rate | 14.05 |
| After-tax Cost of Debt | 3.58% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 6.239 |
| Total Debt | 9,176.80 |
| Total Equity | 17,530.38 |
| Total Capital | 26,707.18 |
| Debt Weighting | 34.36 |
| Equity Weighting | 65.64 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 7,938.30 | 9,538.40 | 11,054.40 | 11,184.70 | 11,535.90 | 12,700.13 | 13,981.87 | 15,392.95 | 16,946.45 | 18,656.73 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 954.20 | 1,125.50 | 1,842.60 | 1,468.10 | 1,177.30 | 1,621.04 | 1,784.64 | 1,964.75 | 2,163.04 | 2,381.34 |
| Capital Expenditure | -251.60 | -353.10 | -369.50 | -506.40 | -464.40 | -476.69 | -524.80 | -577.76 | -636.07 | -700.27 |
| Free Cash Flow | 702.60 | 772.40 | 1,473.10 | 961.70 | 712.90 | 1,144.35 | 1,259.84 | 1,386.99 | 1,526.97 | 1,681.07 |
| WACC | ||||||||||
| PV LFCF | 1,086.55 | 1,135.78 | 1,187.24 | 1,241.04 | 1,297.27 | |||||
| SUM PV LFCF | 5,947.88 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 5.32 |
| Free cash flow (t + 1) | 1,714.69 |
| Terminal Value | 51,647.37 |
| Present Value of Terminal Value | 39,856.02 |
Intrinsic Value
| Enterprise Value | 45,803.90 |
|---|---|
| Net Debt | 9,093.50 |
| Equity Value | 36,710.40 |
| Shares Outstanding | 482.20 |
| Equity Value Per Share | 76.13 |