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 | $86.7B | $92.1B | $99.8B | $106.9B | $116.6B |
| EBIT | $20.5B | $21.8B | $23.7B | $25.3B | $27.6B |
| Tax | $4.2B | $4.4B | $4.8B | $5.2B | $5.6B |
| NOPAT | $16.4B | $17.4B | $18.8B | $20.2B | $22.0B |
| + Depreciation | $2.9B | $3.1B | $3.3B | $3.6B | $3.9B |
| - Capex | $3.3B | $3.5B | $3.8B | $4.1B | $4.5B |
| - Δ NWC | $241M | $302M | $363M | $348M | $312M |
| Free Cash Flow | $15.7B | $16.6B | $18.0B | $19.3B | $21.1B |
| Discount Factor | 0.945 | 0.844 | 0.753 | 0.673 | 0.568 |
| Present Value | $14.8B | $14.0B | $13.5B | $13.0B | $12.0B |
FCF Formula: Free Cash Flow = NOPAT + Depreciation - Capex - Change in Net Working Capital
Sensitivity AnalysisPrice per Share
| WACC ↓ / Growth → | 1.00% | 1.50% | 1.27% | 1.77% | 2.27% |
|---|
| 3.83% | $255.09 | $301.72 | $277.71 | $335.87 | $333.64 |
| 4.83% | $185.66 | $207.77 | $196.69 | $222.52 | $258.44 |
| 5.83% | $146.13 | $158.50 | $152.40 | $166.35 | $184.23 |
| 6.83% | $121.00 | $128.65 | $124.91 | $133.35 | $143.64 |
| 7.83% | $103.86 | $108.92 | $106.47 | $111.96 | $118.44 |
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 Defensive Sector
Growth Assumptions (Select Years)
Year 1 Revenue Growth2.86%
Year 3 Revenue Growth3.39%
Year 5 Revenue Growth3.77%
Year 7 Revenue Growth3.36%
Year 10 Revenue Growth2.75%
Terminal Growth Rate1.27%
Margin & Efficiency
EBIT Margin23.69%
Tax Rate20.34%
Capex / Revenue3.82%
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: 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.