10-Year Free Cash Flow Projections(showing years 1, 3, 5, 7, 10)
| Year | Year 1 | Year 3 | Year 5 | Year 7 | Year 10 |
|---|
| Revenue | $26.2B | $30.7B | $32.3B | $34.0B | $36.6B |
| EBIT | $5.4B | $6.3B | $6.7B | $7.0B | $7.5B |
| Tax | $1.2B | $1.4B | $1.5B | $1.6B | $1.7B |
| NOPAT | $4.2B | $4.9B | $5.2B | $5.4B | $5.8B |
| + Depreciation | $1.1B | $1.3B | $1.4B | $1.5B | $1.6B |
| - Capex | $747M | $875M | $921M | $967M | $1.0B |
| - Δ NWC | $964M | $86M | $79M | $83M | $89M |
| Free Cash Flow | $3.6B | $5.3B | $5.6B | $5.9B | $6.3B |
| Discount Factor | 0.948 | 0.852 | 0.765 | 0.687 | 0.585 |
| Present Value | $3.4B | $4.5B | $4.3B | $4.0B | $3.7B |
FCF Formula: Free Cash Flow = NOPAT + Depreciation - Capex - Change in Net Working Capital
Sensitivity AnalysisPrice per Share
| WACC ↓ / Growth → | 1.50% | 2.00% | 2.50% | 3.00% | 3.50% |
|---|
| 3.50% | $153.20 | $146.55 | $140.20 | $134.16 | $128.40 |
| 4.50% | $114.18 | $124.59 | $140.20 | $134.16 | $128.40 |
| 5.50% | $92.57 | $97.68 | $104.51 | $114.06 | $128.40 |
| 6.50% | $78.16 | $81.09 | $84.74 | $89.45 | $95.72 |
| 7.50% | $67.54 | $69.37 | $71.57 | $74.26 | $77.63 |
How to read: This table shows how the valuation changes with different WACC (discount rate) and terminal growth rate assumptions. Green = undervalued, Red = overvalued.
Key Assumptions & Drivers• Consumer Defensive Sector
Growth Assumptions (Select Years)
Year 1 Revenue Growth58.05%
Year 3 Revenue Growth2.89%
Year 5 Revenue Growth2.50%
Year 7 Revenue Growth2.50%
Year 10 Revenue Growth2.50%
Terminal Growth Rate2.50%
Margin & Efficiency
Current EBIT Margin20.62%
Terminal EBIT Margin21.97%
Tax Rate22.63%
Historical Capex / Rev2.85%
NWC / Revenue10.00%
Key Drivers: Revenue growth, operating margin expansion, capex efficiency, and working capital management are the primary drivers of cash flow generation. Terminal value assumptions significantly impact final valuation.
Institutional-Grade Methodology
Actual Company Data: Revenue, EBIT, Capex, NWC, Tax Rate, Interest Expense, Beta
Market Assumptions: Risk-free: 4.5% (10Y), MRP: 4.5% (Damodaran 2026), Exit: 20x EV/EBITDA (Consumer Defensive sector)
This DCF model is for informational purposes only. Projections are based on assumptions that may not materialize. Past performance does not guarantee future results. Consult a financial advisor before making investment decisions.