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
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 | 4,145.90 | 4,357.70 | 4,895.80 | 5,190.10 | 5,375.60 | 5,739.02 | 6,127.01 | 6,541.23 | 6,983.46 | 7,455.58 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 763.60 | 864.50 | 990.30 | 993.80 | 885.20 | 1,080.07 | 1,153.09 | 1,231.05 | 1,314.28 | 1,403.13 |
| 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 | 703.20 | 790.80 | 891.40 | 875 | 706.40 | 956.30 | 1,020.95 | 1,089.98 | 1,163.67 | 1,242.34 |
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 | 4,145.90 | 4,357.70 | 4,895.80 | 5,190.10 | 5,375.60 | 5,739.02 | 6,127.01 | 6,541.23 | 6,983.46 | 7,455.58 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 763.60 | 864.50 | 990.30 | 993.80 | 885.20 | 1,080.07 | 1,153.09 | 1,231.05 | 1,314.28 | 1,403.13 |
| 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 | 703.20 | 790.80 | 891.40 | 875 | 706.40 | 956.30 | 1,020.95 | 1,089.98 | 1,163.67 | 1,242.34 |
| WACC | ||||||||||
| PV LFCF | 689.62 | 697.20 | 704.86 | 712.61 | 720.44 | |||||
| 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 |