Discounted Cash Flow (DCF) Analysis Levered

Newell Brands Inc. (NWL)

$7.5

+0.20 (+2.74%)
All numbers are in Millions, Currency in USD
Stock DCF: 26.11 | 7.5 | 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 9,714.909,38510,5899,4598,1337,822.797,524.427,237.426,961.386,695.86
Revenue (%)
Operating Cash Flow 1,0441,432884-272930671.39645.78621.15597.46574.67
Operating Cash Flow (%)
Capital Expenditure -264.90-259-289-312-284-234.78-225.82-217.21-208.93-200.96
Capital Expenditure (%)
Free Cash Flow 779.101,173595-584646436.61419.96403.94388.53373.71

Weighted Average Cost Of Capital

Share price $ 7.5
Beta 0.944
Diluted Shares Outstanding 414.10
Cost of Debt
Tax Rate 28.55
After-tax Cost of Debt 3.78%
Risk-Free Rate
Market Risk Premium
Cost of Equity 8.718
Total Debt 5,350
Total Equity 3,105.75
Total Capital 8,455.75
Debt Weighting 63.27
Equity Weighting 36.73
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 9,714.909,38510,5899,4598,1337,822.797,524.427,237.426,961.386,695.86
Operating Cash Flow 1,0441,432884-272930671.39645.78621.15597.46574.67
Capital Expenditure -264.90-259-289-312-284-234.78-225.82-217.21-208.93-200.96
Free Cash Flow 779.101,173595-584646436.61419.96403.94388.53373.71
WACC
PV LFCF 413.50376.67343.12312.56284.72
SUM PV LFCF 1,730.57

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 5.59
Free cash flow (t + 1) 386.79
Terminal Value 18,506.84
Present Value of Terminal Value 14,099.98

Intrinsic Value

Enterprise Value 15,830.55
Net Debt 5,018
Equity Value 10,812.55
Shares Outstanding 414.10
Equity Value Per Share 26.11