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 | $18.9B | $21.4B | $23.0B | $25.1B | $27.7B |
| EBIT | $3.9B | $4.3B | $4.7B | $5.1B | $5.6B |
| Tax | $835M | $942M | $1.0B | $1.1B | $1.2B |
| NOPAT | $3.0B | $3.4B | $3.7B | $4.0B | $4.4B |
| + Depreciation | $441M | $497M | $535M | $583M | $645M |
| - Capex | $896M | $976M | $1.0B | $1.1B | $1.1B |
| - Δ NWC | $116M | $125M | $109M | $101M | $81M |
| Free Cash Flow | $2.4B | $2.8B | $3.1B | $3.4B | $3.9B |
| Discount Factor | 0.938 | 0.826 | 0.727 | 0.640 | 0.528 |
| Present Value | $2.3B | $2.3B | $2.2B | $2.2B | $2.0B |
FCF Formula: Free Cash Flow = NOPAT + Depreciation - Capex - Change in Net Working Capital
Sensitivity AnalysisPrice per Share
| WACC ↓ / Growth → | 2.00% | 2.50% | 3.00% | 3.50% | 4.00% |
|---|
| 4.59% | $120.94 | $134.93 | $133.32 | $127.48 | $121.92 |
| 5.59% | $95.55 | $101.82 | $110.51 | $123.36 | $121.92 |
| 6.59% | $79.53 | $82.94 | $87.29 | $93.06 | $101.04 |
| 7.59% | $68.06 | $70.13 | $72.65 | $75.78 | $79.78 |
| 8.59% | $59.23 | $60.57 | $62.16 | $64.07 | $66.38 |
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 Growth6.51%
Year 3 Revenue Growth6.24%
Year 5 Revenue Growth5.00%
Year 7 Revenue Growth4.20%
Year 10 Revenue Growth3.00%
Terminal Growth Rate3.00%
Margin & Efficiency
Current EBIT Margin20.35%
Tax Rate21.66%
Historical Capex / Rev4.73%
Terminal Capex / Rev4.00%
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 Cyclical 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.