Discounted Cash Flow (DCF) Analysis Levered

Conagra Brands, Inc. (CAG)

$36.355

+0.10 (+0.26%)
All numbers are in Millions, Currency in USD
Stock DCF: 76.13 | 36.355 | undervalue

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 7,938.309,538.4011,054.4011,184.7011,535.9012,700.1313,981.8715,392.9516,946.4518,656.73
Revenue (%)
Operating Cash Flow 954.201,125.501,842.601,468.101,177.301,621.041,784.641,964.752,163.042,381.34
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 702.60772.401,473.10961.70712.901,144.351,259.841,386.991,526.971,681.07

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 7,938.309,538.4011,054.4011,184.7011,535.9012,700.1313,981.8715,392.9516,946.4518,656.73
Operating Cash Flow 954.201,125.501,842.601,468.101,177.301,621.041,784.641,964.752,163.042,381.34
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 702.60772.401,473.10961.70712.901,144.351,259.841,386.991,526.971,681.07
WACC
PV LFCF 1,086.551,135.781,187.241,241.041,297.27
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