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 | $56.4B | $57.7B | $60.9B | $64.3B | $69.7B |
| EBIT | $2.5B | $2.6B | $2.7B | $2.9B | $3.1B |
| Tax | $764M | $780M | $824M | $870M | $943M |
| NOPAT | $1.8B | $1.8B | $1.9B | $2.0B | $2.2B |
| + Depreciation | $1.4B | $1.4B | $1.5B | $1.5B | $1.7B |
| - Capex | $1.5B | $1.5B | $1.6B | $1.7B | $1.8B |
| - Δ NWC | $121M | $48M | $99M | $104M | $113M |
| Free Cash Flow | $1.5B | $1.6B | $1.7B | $1.8B | $1.9B |
| Discount Factor | 0.946 | 0.848 | 0.760 | 0.680 | 0.577 |
| Present Value | $1.4B | $1.4B | $1.3B | $1.2B | $1.1B |
FCF Formula: Free Cash Flow = NOPAT + Depreciation - Capex - Change in Net Working Capital
Sensitivity AnalysisPrice per Share
| WACC ↓ / Growth → | 1.75% | 2.25% | 2.75% | 3.25% | 3.75% |
|---|
| 3.66% | $209.87 | $201.63 | $193.77 | $186.28 | $179.14 |
| 4.66% | $137.92 | $164.23 | $193.77 | $186.28 | $179.14 |
| 5.66% | $98.12 | $110.81 | $127.86 | $152.01 | $179.14 |
| 6.66% | $75.19 | $82.37 | $91.38 | $103.04 | $118.71 |
| 7.66% | $60.52 | $64.98 | $70.36 | $76.95 | $85.24 |
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 Growth3.69%
Year 3 Revenue Growth1.39%
Year 5 Revenue Growth2.75%
Year 7 Revenue Growth2.75%
Year 10 Revenue Growth2.75%
Terminal Growth Rate2.75%
Margin & Efficiency
EBIT Margin4.51%
Tax Rate30.00%
Capex / Revenue2.62%
NWC / Revenue6.04%
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.