BF-B DCF Model
| Apr'20 Actual | Apr'21 Actual | Apr'22 Actual | Apr'23 Actual | Apr'24 Actual | Apr'25 Estimate | Apr'26 Estimate | Apr'27 Estimate | Apr'28 Estimate | Apr'29 Estimate | Apr'30 Estimate | Apr'31 Estimate | Apr'32 Estimate | Apr'33 Estimate | Apr'34 Estimate | Apr'35 Terminal | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
% growth | 3,363.0 1.2% | 3,461.0 2.9% | 3,933.0 13.6% | 4,228.0 7.5% | 4,178.0 (1.2%) | 4,114.6 (1.5%) | 4,219.6 2.6% | 4,448.6 5.4% | 4,593.0 3.2% | 4,897.8 6.6% | 5,184.9 5.9% | 5,448.9 5.1% | 5,684.2 4.3% | 5,885.7 3.5% | 6,048.9 2.8% | 6,169.9 2.0% |
% margin | 1,091.0 32.4% | 1,166.0 33.7% | 1,204.0 30.6% | 1,127.0 26.7% | 1,414.0 33.8% | 1,287.8 31.3% | 1,320.7 31.3% | 1,392.4 31.3% | 1,437.5 31.3% | 1,532.9 31.3% | 1,622.8 31.3% | 1,705.4 31.3% | 1,779.1 31.3% | 1,842.1 31.3% | 1,893.2 31.3% | 1,931.1 31.3% |
NOPAT % effective tax rate | 894.2 26.6% | 974.0 28.1% | 905.7 23.0% | 867.7 20.5% | 1,115.5 26.7% | 1,016.0 24.7% | 1,041.9 24.7% | 1,098.4 24.7% | 1,134.1 24.7% | 1,209.3 24.7% | 1,280.3 24.7% | 1,345.4 24.7% | 1,403.5 24.7% | 1,453.3 24.7% | 1,493.6 24.7% | 1,523.4 24.7% |
% of revenue | 74.0 2.2% | 77.0 2.2% | 79.0 2.0% | 80.0 1.9% | 87.0 2.1% | 82.1 2.0% | 84.2 2.0% | 88.7 2.0% | 91.6 2.0% | 97.7 2.0% | 103.4 2.0% | 108.7 2.0% | 113.4 2.0% | 117.4 2.0% | 120.6 2.0% | 123.1 2.0% |
% of revenue | (113.0) (3.4%) | (62.0) (1.8%) | (138.0) (3.5%) | (183.0) (4.3%) | (228.0) (5.5%) | (182.3) (4.4%) | (187.0) (4.4%) | (197.1) (4.4%) | (203.5) (4.4%) | (217.0) (4.4%) | (229.8) (4.4%) | (241.5) (4.4%) | (251.9) (4.4%) | (260.8) (4.4%) | (268.1) (4.4%) | (273.4) (4.4%) |
% of revenue | (255.0) (7.6%) | 28.0 0.8% | (77.0) (2.0%) | 410.0 9.7% | (263.0) (6.3%) | 19.8 0.5% | 20.3 0.5% | 21.4 0.5% | 22.1 0.5% | 23.6 0.5% | 25.0 0.5% | 26.2 0.5% | 27.4 0.5% | 28.3 0.5% | 29.1 0.5% | 29.7 0.5% |
Free Cash Flow to Firm (FCFF) % of revenue | 600.2 17.8% | 1,017.0 29.4% | 769.7 19.6% | 1,174.7 27.8% | 711.5 17.0% | 935.5 22.7% | 959.4 22.7% | 1,011.5 22.7% | 1,044.3 22.7% | 1,113.6 22.7% | 1,178.9 22.7% | 1,238.9 22.7% | 1,292.4 22.7% | 1,338.2 22.7% | 1,375.3 22.7% | 1,402.8 22.7% |
% of FCFF used in calculation | 15.9% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | ||||||
Discount period | 0.50 | 1.50 | 2.50 | 3.50 | 4.50 | 5.50 | 6.50 | 7.50 | 8.50 | 9.50 | ||||||
Discount factor | 0.97 | 0.91 | 0.85 | 0.80 | 0.75 | 0.71 | 0.66 | 0.62 | 0.59 | 0.55 | ||||||
Discounted FCFF (DFCFF) | 144.1 | 873.0 | 864.3 | 837.9 | 839.1 | 834.1 | 823.1 | 806.3 | 784.0 | 756.6 |
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FAQ
What is Brown-Forman Corporation DCF (discounted cash flow) valuation?
As of Mar 03, 2025, Brown-Forman Corporation's Discounted Cash Flow (DCF) valuation estimates its share price at $46.5. This suggests it may be undervalued by 40.6% compared to its current price of around $33.0, using a WACC of 6.5% and growth rates of 2.0%.
What is Brown-Forman Corporation WACC?
As of Mar 03, 2025, Brown-Forman Corporation's Weighted Average Cost of Capital (WACC) is approximately 6.5%.
What is Brown-Forman Corporation Enterprise Value?
As of Mar 03, 2025, Brown-Forman Corporation's Enterprise Value (EV) is approximately $24.7B. This value reflects the company's total market capitalization plus debt, minus cash and cash equivalents, providing a comprehensive measure of its overall value in the market.