Discounted Cash Flow

Unilever Plc. ADR

UL · 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 $52.7b $5.2b $5.2b 9.8% $1.83
2017 $53.7b (1.9%) $6.1b (16.8%) $5.8b (10.3%) 11.3% (14.6%) $2.16 (18.0%)
2018 $51.0b (-5.1%) $9.4b (55.1%) $5.4b (-6.2%) 18.4% (63.4%) $3.50 (62.0%)
2019 $52.0b (2.0%) $5.6b (-40.1%) $6.8b (25.2%) 10.8% (-41.2%) $2.15 (-38.6%)
2020 $50.7b (-2.4%) $5.6b (-0.8%) $8.2b (20.6%) 11.0% (1.7%) $2.13 (-0.9%)
2021 $52.4b (3.4%) $6.0b (8.4%) $6.9b (-16.2%) 11.5% (4.8%) $2.33 (9.4%)
2022 $60.1b (14.5%) $7.6b (26.3%) $5.8b (-15.1%) 12.7% (10.3%) $3.00 (28.8%)
2023 $59.6b (-0.8%) $6.5b (-15.1%) $7.9b (36.0%) 10.9% (-14.4%) $2.58 (-14.0%)
2024 $60.8b (1.9%) $5.7b (-11.5%) $7.8b (-1.8%) 9.5% (-13.1%) $2.30 (-10.9%)
2025 $50.5b (-16.9%) $9.5b (64.9%) $6.9b (-10.9%) 18.7% (98.3%) $4.33 (88.3%)

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