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 | $28.7B | $31.7B | $34.5B | $37.2B | $40.7B |
| EBIT | $12.3B | $13.6B | $14.8B | $15.9B | $17.4B |
| Tax | $2.6B | $2.9B | $3.2B | $3.4B | $3.7B |
| NOPAT | $9.6B | $10.7B | $11.6B | $12.5B | $13.7B |
| + Depreciation | $2.0B | $2.3B | $2.5B | $2.6B | $2.9B |
| - Capex | $2.3B | $2.5B | $2.7B | $3.0B | $3.2B |
| - Δ NWC | $19M | $15M | $15M | $14M | $12M |
| Free Cash Flow | $9.4B | $10.4B | $11.3B | $12.2B | $13.3B |
| Discount Factor | 0.943 | 0.840 | 0.747 | 0.665 | 0.558 |
| Present Value | $8.9B | $8.7B | $8.4B | $8.1B | $7.4B |
FCF Formula: Free Cash Flow = NOPAT + Depreciation - Capex - Change in Net Working Capital
Sensitivity AnalysisPrice per Share
| WACC ↓ / Growth → | 1.22% | 1.72% | 2.22% | 2.72% | 3.22% |
|---|
| 4.00% | $503.07 | $606.24 | $675.48 | $648.94 | $623.64 |
| 5.00% | $351.12 | $399.54 | $465.36 | $560.01 | $623.64 |
| 6.00% | $265.13 | $292.08 | $326.16 | $370.62 | $431.06 |
| 7.00% | $210.67 | $227.28 | $247.36 | $272.12 | $303.44 |
| 8.00% | $173.63 | $184.57 | $197.42 | $212.69 | $231.16 |
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✓ Using Analyst Consensus Estimates• Consumer Cyclical Sector
Growth Assumptions (Select Years)
Year 1 Revenue Growth6.66%
Year 3 Revenue Growth4.76%
Year 5 Revenue Growth4.26%
Year 7 Revenue Growth3.66%
Year 10 Revenue Growth2.75%
Terminal Growth Rate2.22%
Margin & Efficiency
EBIT Margin42.80%
Tax Rate21.42%
Capex / Revenue7.97%
NWC / Revenue1.07%
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: 18x EV/EBITDA (S&P 500: 22x P/E)
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.