Discounted Cash Flow (DCF) Analysis Levered
Colgate-Palmolive Company (CL)
$73.59
-0.70 (-0.94%)
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 | 15,544 | 15,693 | 16,471 | 17,421 | 17,967 | 18,632.59 | 19,322.84 | 20,038.65 | 20,780.99 | 21,550.82 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 3,056 | 3,133 | 3,719 | 3,325 | 2,556 | 3,559.42 | 3,691.28 | 3,828.02 | 3,969.83 | 4,116.89 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -436 | -335 | -410 | -567 | -696 | -542.48 | -562.58 | -583.42 | -605.03 | -627.45 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 2,620 | 2,798 | 3,309 | 2,758 | 1,860 | 3,016.94 | 3,128.70 | 3,244.60 | 3,364.80 | 3,489.45 |
Weighted Average Cost Of Capital
| Share price | $ 73.59 |
|---|---|
| Beta | 0.509 |
| Diluted Shares Outstanding | 838.80 |
| Cost of Debt | |
| Tax Rate | 32.89 |
| After-tax Cost of Debt | -1.17% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 6.016 |
| Total Debt | 8,766 |
| Total Equity | 61,727.29 |
| Total Capital | 70,493.29 |
| Debt Weighting | 12.44 |
| Equity Weighting | 87.56 |
| 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 | 15,544 | 15,693 | 16,471 | 17,421 | 17,967 | 18,632.59 | 19,322.84 | 20,038.65 | 20,780.99 | 21,550.82 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 3,056 | 3,133 | 3,719 | 3,325 | 2,556 | 3,559.42 | 3,691.28 | 3,828.02 | 3,969.83 | 4,116.89 |
| Capital Expenditure | -436 | -335 | -410 | -567 | -696 | -542.48 | -562.58 | -583.42 | -605.03 | -627.45 |
| Free Cash Flow | 2,620 | 2,798 | 3,309 | 2,758 | 1,860 | 3,016.94 | 3,128.70 | 3,244.60 | 3,364.80 | 3,489.45 |
| WACC | ||||||||||
| PV LFCF | 2,235.91 | 2,205.80 | 2,176.10 | 2,146.80 | 2,117.89 | |||||
| SUM PV LFCF | 13,968.68 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 5.12 |
| Free cash flow (t + 1) | 3,559.24 |
| Terminal Value | 114,078.17 |
| Present Value of Terminal Value | 88,874.21 |
Intrinsic Value
| Enterprise Value | 102,842.90 |
|---|---|
| Net Debt | 7,991 |
| Equity Value | 94,851.90 |
| Shares Outstanding | 838.80 |
| Equity Value Per Share | 113.08 |