Discounted Cash Flow

Campbell's Co.

CPB · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $8.0b $563.0m $1.1b 7.1% $1.82
2017 $7.9b (-0.9%) $887.0m (57.5%) $953.0m (-15.1%) 11.2% (59.0%) $2.91 (59.9%)
2018 $8.7b (10.1%) $261.0m (-70.6%) $898.0m (-5.8%) 3.0% (-73.3%) $0.87 (-70.1%)
2019 $8.1b (-6.7%) $211.0m (-19.2%) $1.0b (12.9%) 2.6% (-13.4%) $0.70 (-19.5%)
2020 $8.7b (7.2%) $1.6b (671.6%) $1.1b (8.2%) 18.7% (619.7%) $5.39 (670.0%)
2021 $8.5b (-2.5%) $1.0b (-38.5%) $760.0m (-30.7%) 11.8% (-36.9%) $3.31 (-38.6%)
2022 $8.6b (1.0%) $757.0m (-24.5%) $939.0m (23.6%) 8.8% (-25.2%) $2.51 (-24.2%)
2023 $9.4b (9.3%) $858.0m (13.3%) $773.0m (-17.7%) 9.2% (3.7%) $2.87 (14.3%)
2024 $9.6b (3.0%) $567.0m (-33.9%) $668.0m (-13.6%) 5.9% (-35.8%) $1.90 (-33.8%)
2025 $10.3b (6.4%) $602.0m (6.2%) $705.0m (5.5%) 5.9% (-0.2%) $2.02 (6.3%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Values abbreviated: b = billions, m = millions, k = thousands.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model