Discounted Cash Flow (DCF) Analysis Levered

Church & Dwight Co., Inc. (CHD)

$100.4

+0.76 (+0.76%)
All numbers are in Millions, Currency in USD
Stock DCF: 178.98 | 100.4 | 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 4,357.704,895.805,190.105,375.605,867.906,324.016,815.577,345.347,916.288,531.61
Revenue (%)
Operating Cash Flow 864.50990.30993.80885.201,030.601,179.361,271.031,369.821,476.301,591.05
Operating Cash Flow (%)
Capital Expenditure -73.70-98.90-118.80-178.80-223.50-166.14-179.05-192.97-207.97-224.13
Capital Expenditure (%)
Free Cash Flow 790.80891.40875706.40807.101,013.221,091.981,176.861,268.331,366.92

Weighted Average Cost Of Capital

Share price $ 100.4
Beta 0.535
Diluted Shares Outstanding 247.60
Cost of Debt
Tax Rate 21.89
After-tax Cost of Debt 3.35%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.810
Total Debt 2,406
Total Equity 24,859.04
Total Capital 27,265.04
Debt Weighting 8.82
Equity Weighting 91.18
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 4,357.704,895.805,190.105,375.605,867.906,324.016,815.577,345.347,916.288,531.61
Operating Cash Flow 864.50990.30993.80885.201,030.601,179.361,271.031,369.821,476.301,591.05
Capital Expenditure -73.70-98.90-118.80-178.80-223.50-166.14-179.05-192.97-207.97-224.13
Free Cash Flow 790.80891.40875706.40807.101,013.221,091.981,176.861,268.331,366.92
WACC
PV LFCF 951.38962.75974.26985.90997.69
SUM PV LFCF 4,871.98

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 6.50
Free cash flow (t + 1) 1,421.59
Terminal Value 56,863.77
Present Value of Terminal Value 41,503.78

Intrinsic Value

Enterprise Value 46,375.76
Net Debt 2,061.50
Equity Value 44,314.26
Shares Outstanding 247.60
Equity Value Per Share 178.98