Discounted Cash Flow (DCF) Analysis Levered

United Natural Foods, Inc. (UNFI)

$15.01

-0.37 (-2.41%)
All numbers are in Millions, Currency in USD
Stock DCF: 215.36 | 15.01 | 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 21,387.0726,514.2726,95028,92830,27233,117.7436,23139,636.9243,363.0247,439.39
Revenue (%)
Operating Cash Flow 284.53456.54614331624565.39618.54676.69740.30809.89
Operating Cash Flow (%)
Capital Expenditure -207.82-172.57-310-251-323-311.80-341.11-373.18-408.26-446.64
Capital Expenditure (%)
Free Cash Flow 76.71283.9730480301253.59277.43303.51332.04363.25

Weighted Average Cost Of Capital

Share price $ 15.01
Beta 0.578
Diluted Shares Outstanding 60.70
Cost of Debt
Tax Rate -242.86
After-tax Cost of Debt 4.41%
Risk-Free Rate
Market Risk Premium
Cost of Equity 6.938
Total Debt 3,265
Total Equity 911.11
Total Capital 4,176.11
Debt Weighting 78.18
Equity Weighting 21.82
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 21,387.0726,514.2726,95028,92830,27233,117.7436,23139,636.9243,363.0247,439.39
Operating Cash Flow 284.53456.54614331624565.39618.54676.69740.30809.89
Capital Expenditure -207.82-172.57-310-251-323-311.80-341.11-373.18-408.26-446.64
Free Cash Flow 76.71283.9730480301253.59277.43303.51332.04363.25
WACC
PV LFCF 241.60251.83262.48273.58285.16
SUM PV LFCF 1,314.65

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 4.96
Free cash flow (t + 1) 374.15
Terminal Value 19,089.19
Present Value of Terminal Value 14,985.40

Intrinsic Value

Enterprise Value 16,300.05
Net Debt 3,228
Equity Value 13,072.05
Shares Outstanding 60.70
Equity Value Per Share 215.36