Discounted Cash Flow (DCF) Analysis Levered
TreeHouse Foods, Inc. (THS)
$42.68
-0.82 (-1.89%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 6,307.10 | 5,812.10 | 4,288.90 | 4,349 | 4,327.60 | 3,968.99 | 3,640.09 | 3,338.45 | 3,061.81 | 2,808.09 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 506 | 505.80 | 307.70 | 403 | 324.90 | 322.87 | 296.11 | 271.57 | 249.07 | 228.43 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -185.80 | -196.20 | -146.80 | -90 | -115.90 | -115.04 | -105.50 | -96.76 | -88.74 | -81.39 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 320.20 | 309.60 | 160.90 | 313 | 209 | 207.83 | 190.61 | 174.81 | 160.33 | 147.04 |
Weighted Average Cost Of Capital
Share price | $ 42.68 |
---|---|
Beta | 0.400 |
Diluted Shares Outstanding | 56.70 |
Cost of Debt | |
Tax Rate | 60.32 |
After-tax Cost of Debt | 1.54% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 4.727 |
Total Debt | 2,088.10 |
Total Equity | 2,419.96 |
Total Capital | 4,508.06 |
Debt Weighting | 46.32 |
Equity Weighting | 53.68 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
Revenue | 6,307.10 | 5,812.10 | 4,288.90 | 4,349 | 4,327.60 | 3,968.99 | 3,640.09 | 3,338.45 | 3,061.81 | 2,808.09 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 506 | 505.80 | 307.70 | 403 | 324.90 | 322.87 | 296.11 | 271.57 | 249.07 | 228.43 |
Capital Expenditure | -185.80 | -196.20 | -146.80 | -90 | -115.90 | -115.04 | -105.50 | -96.76 | -88.74 | -81.39 |
Free Cash Flow | 320.20 | 309.60 | 160.90 | 313 | 209 | 207.83 | 190.61 | 174.81 | 160.33 | 147.04 |
WACC | ||||||||||
PV LFCF | 201.29 | 178.80 | 158.82 | 141.07 | 125.31 | |||||
SUM PV LFCF | 805.29 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 3.25 |
Free cash flow (t + 1) | 149.98 |
Terminal Value | 11,998.55 |
Present Value of Terminal Value | 10,225.36 |
Intrinsic Value
Enterprise Value | 11,030.64 |
---|---|
Net Debt | 1,779.50 |
Equity Value | 9,251.14 |
Shares Outstanding | 56.70 |
Equity Value Per Share | 163.16 |