Discounted Cash Flow (DCF) Analysis Levered
Campbell Soup Company (CPB)
$48.44
+1.04 (+2.19%)
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 | $ 48.44 |
|---|---|
| Beta | 0.390 |
| 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 | 4.967 |
| Total Debt | 5,292 |
| Total Equity | 14,774.20 |
| Total Capital | 20,066.20 |
| Debt Weighting | 26.37 |
| Equity Weighting | 73.63 |
| 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 | 1,144.25 | 1,206.85 | 1,272.87 | 1,342.50 | 1,415.94 | |||||
| SUM PV LFCF | 6,382.41 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 4.44 |
| Free cash flow (t + 1) | 1,794.65 |
| Terminal Value | 73,551.22 |
| Present Value of Terminal Value | 59,190.99 |
Intrinsic Value
| Enterprise Value | 65,573.40 |
|---|---|
| Net Debt | 5,223 |
| Equity Value | 60,350.40 |
| Shares Outstanding | 305 |
| Equity Value Per Share | 197.87 |