Discounted Cash Flow (DCF) Analysis Levered
Unilever PLC (UNA.AS)
44.14 €
+0.09 (+0.19%)
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 | 50,982 | 51,980 | 50,724 | 52,444 | 60,073 | 62,698.05 | 65,437.81 | 68,297.30 | 71,281.73 | 74,396.58 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 6,753 | 8,109 | 9,058 | 7,972 | 7,282 | 9,282.62 | 9,688.25 | 10,111.61 | 10,553.46 | 11,014.62 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -1,424 | -1,429 | -932 | -1,239 | -1,627 | -1,561.25 | -1,629.48 | -1,700.68 | -1,775 | -1,852.56 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 5,329 | 6,680 | 8,126 | 6,733 | 5,655 | 7,721.37 | 8,058.78 | 8,410.93 | 8,778.46 | 9,162.06 |
Weighted Average Cost Of Capital
| Share price | $ 44.14 |
|---|---|
| Beta | 0.187 |
| Diluted Shares Outstanding | 2,559.80 |
| Cost of Debt | |
| Tax Rate | 26.07 |
| After-tax Cost of Debt | 3.07% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 5.039 |
| Total Debt | 28,439 |
| Total Equity | 112,989.57 |
| Total Capital | 141,428.57 |
| Debt Weighting | 20.11 |
| Equity Weighting | 79.89 |
| 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 | 50,982 | 51,980 | 50,724 | 52,444 | 60,073 | 62,698.05 | 65,437.81 | 68,297.30 | 71,281.73 | 74,396.58 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 6,753 | 8,109 | 9,058 | 7,972 | 7,282 | 9,282.62 | 9,688.25 | 10,111.61 | 10,553.46 | 11,014.62 |
| Capital Expenditure | -1,424 | -1,429 | -932 | -1,239 | -1,627 | -1,561.25 | -1,629.48 | -1,700.68 | -1,775 | -1,852.56 |
| Free Cash Flow | 5,329 | 6,680 | 8,126 | 6,733 | 5,655 | 7,721.37 | 8,058.78 | 8,410.93 | 8,778.46 | 9,162.06 |
| WACC | ||||||||||
| PV LFCF | 7,378.98 | 7,359.93 | 7,340.92 | 7,321.96 | 7,303.06 | |||||
| SUM PV LFCF | 36,704.86 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 4.64 |
| Free cash flow (t + 1) | 9,345.30 |
| Terminal Value | 353,988.80 |
| Present Value of Terminal Value | 282,163.52 |
Intrinsic Value
| Enterprise Value | 318,868.38 |
|---|---|
| Net Debt | 24,113 |
| Equity Value | 294,755.38 |
| Shares Outstanding | 2,559.80 |
| Equity Value Per Share | 115.15 |