Discounted Cash Flow (DCF) Analysis Levered
Campbell Soup Company (CPB)
$48.21
+0.31 (+0.65%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 5,837 | 6,615 | 8,107 | 8,691 | 8,476 | 9,336.60 | 10,284.58 | 11,328.80 | 12,479.06 | 13,746.10 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 1,291 | 1,305 | 1,398 | 1,396 | 1,035 | 1,631.35 | 1,796.99 | 1,979.44 | 2,180.42 | 2,401.81 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -338 | -407 | -384 | -299 | -275 | -436.29 | -480.59 | -529.39 | -583.14 | -642.35 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 953 | 898 | 1,014 | 1,097 | 760 | 1,195.06 | 1,316.40 | 1,450.05 | 1,597.28 | 1,759.46 |
Weighted Average Cost Of Capital
Share price | $ 48.21 |
---|---|
Beta | 0.392 |
Diluted Shares Outstanding | 305 |
Cost of Debt | |
Tax Rate | 25.00 |
After-tax Cost of Debt | 2.98% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 4.593 |
Total Debt | 5,292 |
Total Equity | 14,704.05 |
Total Capital | 19,996.05 |
Debt Weighting | 26.47 |
Equity Weighting | 73.53 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 5,837 | 6,615 | 8,107 | 8,691 | 8,476 | 9,336.60 | 10,284.58 | 11,328.80 | 12,479.06 | 13,746.10 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 1,291 | 1,305 | 1,398 | 1,396 | 1,035 | 1,631.35 | 1,796.99 | 1,979.44 | 2,180.42 | 2,401.81 |
Capital Expenditure | -338 | -407 | -384 | -299 | -275 | -436.29 | -480.59 | -529.39 | -583.14 | -642.35 |
Free Cash Flow | 953 | 898 | 1,014 | 1,097 | 760 | 1,195.06 | 1,316.40 | 1,450.05 | 1,597.28 | 1,759.46 |
WACC | ||||||||||
PV LFCF | 1,147.22 | 1,213.11 | 1,282.79 | 1,356.47 | 1,434.39 | |||||
SUM PV LFCF | 6,433.98 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 4.17 |
Free cash flow (t + 1) | 1,794.65 |
Terminal Value | 82,702.76 |
Present Value of Terminal Value | 67,422.78 |
Intrinsic Value
Enterprise Value | 73,856.77 |
---|---|
Net Debt | 5,223 |
Equity Value | 68,633.77 |
Shares Outstanding | 305 |
Equity Value Per Share | 225.03 |