Discounted Cash Flow (DCF) Analysis Levered
Mondelez International, Inc. (MDLZ)
$65.765
-0.15 (-0.22%)
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 | 25,938 | 25,868 | 26,581 | 28,720 | 31,496 | 33,086.49 | 34,757.30 | 36,512.48 | 38,356.29 | 40,293.21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 3,948 | 3,965 | 3,964 | 4,141 | 3,908 | 4,783.52 | 5,025.08 | 5,278.83 | 5,545.41 | 5,825.44 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -1,095 | -925 | -863 | -965 | -906 | -1,143.52 | -1,201.26 | -1,261.92 | -1,325.65 | -1,392.59 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 2,853 | 3,040 | 3,101 | 3,176 | 3,002 | 3,640 | 3,823.82 | 4,016.91 | 4,219.76 | 4,432.85 |
Weighted Average Cost Of Capital
| Share price | $ 65.765 |
|---|---|
| Beta | 0.680 |
| Diluted Shares Outstanding | 1,413 |
| Cost of Debt | |
| Tax Rate | 15.83 |
| After-tax Cost of Debt | 1.52% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 6.823 |
| Total Debt | 23,447 |
| Total Equity | 92,925.95 |
| Total Capital | 116,372.95 |
| Debt Weighting | 20.15 |
| Equity Weighting | 79.85 |
| 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 | 25,938 | 25,868 | 26,581 | 28,720 | 31,496 | 33,086.49 | 34,757.30 | 36,512.48 | 38,356.29 | 40,293.21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 3,948 | 3,965 | 3,964 | 4,141 | 3,908 | 4,783.52 | 5,025.08 | 5,278.83 | 5,545.41 | 5,825.44 |
| Capital Expenditure | -1,095 | -925 | -863 | -965 | -906 | -1,143.52 | -1,201.26 | -1,261.92 | -1,325.65 | -1,392.59 |
| Free Cash Flow | 2,853 | 3,040 | 3,101 | 3,176 | 3,002 | 3,640 | 3,823.82 | 4,016.91 | 4,219.76 | 4,432.85 |
| WACC | ||||||||||
| PV LFCF | 3,442.08 | 3,419.29 | 3,396.65 | 3,374.16 | 3,351.82 | |||||
| SUM PV LFCF | 16,984.01 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 5.75 |
| Free cash flow (t + 1) | 4,521.50 |
| Terminal Value | 120,573.45 |
| Present Value of Terminal Value | 91,169.55 |
Intrinsic Value
| Enterprise Value | 108,153.56 |
|---|---|
| Net Debt | 21,524 |
| Equity Value | 86,629.56 |
| Shares Outstanding | 1,413 |
| Equity Value Per Share | 61.31 |