Discounted Cash Flow (DCF) Analysis Levered
Newell Brands Inc. (NWL)
$11.63
+0.11 (+0.95%)
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 | 8,630.90 | 9,714.90 | 9,385 | 10,589 | 9,459 | 9,726.72 | 10,002.02 | 10,285.10 | 10,576.20 | 10,875.54 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 680 | 1,044 | 1,432 | 884 | -272 | 765.61 | 787.28 | 809.56 | 832.48 | 856.04 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -384.40 | -264.90 | -259 | -289 | -312 | -310.63 | -319.42 | -328.46 | -337.76 | -347.32 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 295.60 | 779.10 | 1,173 | 595 | -584 | 454.98 | 467.86 | 481.10 | 494.72 | 508.72 |
Weighted Average Cost Of Capital
Share price | $ 11.63 |
---|---|
Beta | 0.936 |
Diluted Shares Outstanding | 417.40 |
Cost of Debt | |
Tax Rate | -25.48 |
After-tax Cost of Debt | 3.99% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 7.799 |
Total Debt | 5,889 |
Total Equity | 4,854.36 |
Total Capital | 10,743.36 |
Debt Weighting | 54.82 |
Equity Weighting | 45.18 |
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 | 8,630.90 | 9,714.90 | 9,385 | 10,589 | 9,459 | 9,726.72 | 10,002.02 | 10,285.10 | 10,576.20 | 10,875.54 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 680 | 1,044 | 1,432 | 884 | -272 | 765.61 | 787.28 | 809.56 | 832.48 | 856.04 |
Capital Expenditure | -384.40 | -264.90 | -259 | -289 | -312 | -310.63 | -319.42 | -328.46 | -337.76 | -347.32 |
Free Cash Flow | 295.60 | 779.10 | 1,173 | 595 | -584 | 454.98 | 467.86 | 481.10 | 494.72 | 508.72 |
WACC | ||||||||||
PV LFCF | 430.41 | 418.68 | 407.28 | 396.18 | 385.39 | |||||
SUM PV LFCF | 2,037.93 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 5.71 |
Free cash flow (t + 1) | 518.89 |
Terminal Value | 13,986.36 |
Present Value of Terminal Value | 10,595.57 |
Intrinsic Value
Enterprise Value | 12,633.50 |
---|---|
Net Debt | 5,602 |
Equity Value | 7,031.50 |
Shares Outstanding | 417.40 |
Equity Value Per Share | 16.85 |