Discounted Cash Flow (DCF) Analysis Levered

Church & Dwight Co., Inc. (CHD)

$83.13

+0.23 (+0.28%)
All numbers are in Millions, Currency in USD
Stock DCF: 117.87 | 83.13 | 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 4,145.904,357.704,895.805,190.105,375.605,739.026,127.016,541.236,983.467,455.58
Revenue (%)
Operating Cash Flow 763.60864.50990.30993.80885.201,080.071,153.091,231.051,314.281,403.13
Operating Cash Flow (%)
Capital Expenditure -60.40-73.70-98.90-118.80-178.80-123.77-132.14-141.07-150.61-160.79
Capital Expenditure (%)
Free Cash Flow 703.20790.80891.40875706.40956.301,020.951,089.981,163.671,242.34

Weighted Average Cost Of Capital

Share price $ 83.13
Beta 0.466
Diluted Shares Outstanding 246.30
Cost of Debt
Tax Rate 20.91
After-tax Cost of Debt 3.95%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.817
Total Debt 2,673.50
Total Equity 20,474.92
Total Capital 23,148.42
Debt Weighting 11.55
Equity Weighting 88.45
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 4,145.904,357.704,895.805,190.105,375.605,739.026,127.016,541.236,983.467,455.58
Operating Cash Flow 763.60864.50990.30993.80885.201,080.071,153.091,231.051,314.281,403.13
Capital Expenditure -60.40-73.70-98.90-118.80-178.80-123.77-132.14-141.07-150.61-160.79
Free Cash Flow 703.20790.80891.40875706.40956.301,020.951,089.981,163.671,242.34
WACC
PV LFCF 689.62697.20704.86712.61720.44
SUM PV LFCF 4,628.58

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.60
Free cash flow (t + 1) 1,267.18
Terminal Value 35,199.52
Present Value of Terminal Value 26,805.08

Intrinsic Value

Enterprise Value 31,433.66
Net Debt 2,403.20
Equity Value 29,030.46
Shares Outstanding 246.30
Equity Value Per Share 117.87