Discounted Cash Flow (DCF) Analysis Levered

Coca-Cola Europacific Partners PLC (CCEP)

$69.87

+0.47 (+0.68%)
All numbers are in Millions, Currency in USD
Stock DCF: 141.36 | 69.87 | 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 11,51812,01710,60613,76317,32019,407.1221,745.7524,366.2027,302.4130,592.46
Revenue (%)
Operating Cash Flow 1,8061,9041,4902,1172,9323,022.973,387.243,795.424,252.784,765.26
Operating Cash Flow (%)
Capital Expenditure -525-506-348-349-500-678.18-759.91-851.48-954.09-1,069.06
Capital Expenditure (%)
Free Cash Flow 1,2811,3981,1421,7682,4322,344.782,627.342,943.943,298.703,696.20

Weighted Average Cost Of Capital

Share price $ 69.87
Beta 0.709
Diluted Shares Outstanding 458
Cost of Debt
Tax Rate 22.94
After-tax Cost of Debt 3.25%
Risk-Free Rate
Market Risk Premium
Cost of Equity 7.561
Total Debt 11,907
Total Equity 32,000.46
Total Capital 43,907.46
Debt Weighting 27.12
Equity Weighting 72.88
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 11,51812,01710,60613,76317,32019,407.1221,745.7524,366.2027,302.4130,592.46
Operating Cash Flow 1,8061,9041,4902,1172,9323,022.973,387.243,795.424,252.784,765.26
Capital Expenditure -525-506-348-349-500-678.18-759.91-851.48-954.09-1,069.06
Free Cash Flow 1,2811,3981,1421,7682,4322,344.782,627.342,943.943,298.703,696.20
WACC
PV LFCF 2,203.952,321.212,444.712,574.772,711.76
SUM PV LFCF 12,256.40

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.39
Free cash flow (t + 1) 3,770.13
Terminal Value 85,879.85
Present Value of Terminal Value 63,006.77

Intrinsic Value

Enterprise Value 75,263.17
Net Debt 10,520
Equity Value 64,743.17
Shares Outstanding 458
Equity Value Per Share 141.36