Discounted Cash Flow (DCF) Analysis Levered

Campbell Soup Company (CPB)

$42.28

+0.10 (+0.24%)
All numbers are in Millions, Currency in USD
Stock DCF: 83.26 | 42.28 | 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 8,1078,6918,4768,5629,3579,708.5810,073.3710,451.8710,844.5911,252.07
Revenue (%)
Operating Cash Flow 1,3981,3961,0351,1811,1431,388.851,441.031,495.181,551.361,609.65
Operating Cash Flow (%)
Capital Expenditure -384-299-275-242-370-353.43-366.71-380.49-394.79-409.62
Capital Expenditure (%)
Free Cash Flow 1,0141,0977609397731,035.411,074.321,114.691,156.571,200.03

Weighted Average Cost Of Capital

Share price $ 42.28
Beta 0.244
Diluted Shares Outstanding 301
Cost of Debt
Tax Rate 23.94
After-tax Cost of Debt 3.27%
Risk-Free Rate
Market Risk Premium
Cost of Equity 5.456
Total Debt 4,498
Total Equity 12,726.28
Total Capital 17,224.28
Debt Weighting 26.11
Equity Weighting 73.89
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 8,1078,6918,4768,5629,3579,708.5810,073.3710,451.8710,844.5911,252.07
Operating Cash Flow 1,3981,3961,0351,1811,1431,388.851,441.031,495.181,551.361,609.65
Capital Expenditure -384-299-275-242-370-353.43-366.71-380.49-394.79-409.62
Free Cash Flow 1,0141,0977609397731,035.411,074.321,114.691,156.571,200.03
WACC
PV LFCF 987.14976.48965.94955.51945.19
SUM PV LFCF 4,830.27

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.89
Free cash flow (t + 1) 1,212.03
Terminal Value 31,157.51
Present Value of Terminal Value 24,541

Intrinsic Value

Enterprise Value 29,371.27
Net Debt 4,309
Equity Value 25,062.27
Shares Outstanding 301
Equity Value Per Share 83.26