Discounted Cash Flow (DCF) Analysis Levered

Conagra Brands, Inc. (CAG)

$27.94

-0.14 (-0.50%)
All numbers are in Millions, Currency in USD
Stock DCF: 42.25 | 27.94 | undervalue

Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 9,538.4011,054.4011,184.7011,535.9012,27713,094.5513,966.5314,896.5915,888.5816,946.62
Revenue (%)
Operating Cash Flow 1,125.501,842.601,468.101,177.30995.401,568.921,673.401,784.831,903.692,030.46
Operating Cash Flow (%)
Capital Expenditure -353.10-369.50-506.40-464.40-362.20-485.75-518.10-552.60-589.40-628.65
Capital Expenditure (%)
Free Cash Flow 772.401,473.10961.70712.90633.201,083.171,155.301,232.231,314.291,401.81

Weighted Average Cost Of Capital

Share price $ 27.94
Beta 0.428
Diluted Shares Outstanding 480.70
Cost of Debt
Tax Rate 0.91
After-tax Cost of Debt 4.39%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.228
Total Debt 9,238.70
Total Equity 13,430.76
Total Capital 22,669.46
Debt Weighting 40.75
Equity Weighting 59.25
Wacc

Build Up Free Cash Flow

Year
A/P
2019
Actual
2020
Actual
2021
Actual
2022
Actual
2023
Actual
2024
Projected
2025
Projected
2026
Projected
2027
Projected
2028
Projected
Revenue 9,538.4011,054.4011,184.7011,535.9012,27713,094.5513,966.5314,896.5915,888.5816,946.62
Operating Cash Flow 1,125.501,842.601,468.101,177.30995.401,568.921,673.401,784.831,903.692,030.46
Capital Expenditure -353.10-369.50-506.40-464.40-362.20-485.75-518.10-552.60-589.40-628.65
Free Cash Flow 772.401,473.10961.70712.90633.201,083.171,155.301,232.231,314.291,401.81
WACC
PV LFCF 1,026.891,038.371,049.981,061.721,073.59
SUM PV LFCF 5,250.56

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.48
Free cash flow (t + 1) 1,415.83
Terminal Value 31,603.26
Present Value of Terminal Value 24,203.67

Intrinsic Value

Enterprise Value 29,454.23
Net Debt 9,144.80
Equity Value 20,309.43
Shares Outstanding 480.70
Equity Value Per Share 42.25