Discounted Cash Flow (DCF) Analysis Levered
TreeHouse Foods, Inc. (THS)
$41.67
-0.29 (-0.69%)
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 | 5,812.10 | 4,288.90 | 4,349.70 | 4,327.60 | 3,454 | 3,061.24 | 2,713.14 | 2,404.63 | 2,131.19 | 1,888.85 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 505.80 | 307.70 | 416.70 | 324.90 | -150.70 | 175.11 | 155.20 | 137.55 | 121.91 | 108.05 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -196.20 | -146.80 | -105.70 | -115.90 | -94.80 | -89.70 | -79.50 | -70.46 | -62.45 | -55.35 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 309.60 | 160.90 | 311 | 209 | -245.50 | 85.41 | 75.70 | 67.09 | 59.46 | 52.70 |
Weighted Average Cost Of Capital
| Share price | $ 41.67 |
|---|---|
| Beta | 0.434 |
| Diluted Shares Outstanding | 56 |
| Cost of Debt | |
| Tax Rate | -106.41 |
| After-tax Cost of Debt | 4.50% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 6.303 |
| Total Debt | 1,553.70 |
| Total Equity | 2,333.52 |
| Total Capital | 3,887.22 |
| Debt Weighting | 39.97 |
| Equity Weighting | 60.03 |
| 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 | 5,812.10 | 4,288.90 | 4,349.70 | 4,327.60 | 3,454 | 3,061.24 | 2,713.14 | 2,404.63 | 2,131.19 | 1,888.85 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 505.80 | 307.70 | 416.70 | 324.90 | -150.70 | 175.11 | 155.20 | 137.55 | 121.91 | 108.05 |
| Capital Expenditure | -196.20 | -146.80 | -105.70 | -115.90 | -94.80 | -89.70 | -79.50 | -70.46 | -62.45 | -55.35 |
| Free Cash Flow | 309.60 | 160.90 | 311 | 209 | -245.50 | 85.41 | 75.70 | 67.09 | 59.46 | 52.70 |
| WACC | ||||||||||
| PV LFCF | 80.89 | 67.91 | 57 | 47.85 | 40.17 | |||||
| SUM PV LFCF | 293.83 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 5.58 |
| Free cash flow (t + 1) | 53.75 |
| Terminal Value | 1,501.48 |
| Present Value of Terminal Value | 1,144.49 |
Intrinsic Value
| Enterprise Value | 1,438.32 |
|---|---|
| Net Debt | 1,510.70 |
| Equity Value | -72.38 |
| Shares Outstanding | 56 |
| Equity Value Per Share | -1.29 |