DCF Tool

BERY

Berry Global Group Inc – Metal Can Manufacturing
Berry Global Group, Inc. creates innovative packaging and engineered products that it believes make life better for people and the planet. The Company does this every day by leveraging its unmatched global capabilities, sustainability leadership, and deep innovation expertise to serve customers of all sizes around the world. Harnessing the strength in its diversity and industry leading talent of 47,000 global employees across more than 295 locations, it partners with customers to develop, design, and manufacture innovative products with an eye toward the circular economy. The challenges its solve and the innovations its pioneer benefit its customers at every stage of their journey.
Analysis Results
Intrinsic Value $3,218.03
Latest Price $54.65
Relative Value 98% undervalued
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Cash Flow (Billions)
Analysis Parameters
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Analysis Details
Growth Rate Projection

An exponential growth model was fit to the past cash flow data, giving more weight to more recent years. This model determined a growth rate estimate of 41.6%.

Weighted Average Cost of Capital (WACC)

The calculated WACC is 4.5%. This value is used as the default discount rate.

Value of Future Flows

Assuming a growth rate of 41.6%, the cash flows for the next 5 years are projected.

The present value of each year's flow is adjusted to present value using the discount rate.

Year Future flow (billion) Present value (billion)
2022 4.26 4.08
2023 6.04 5.53
2024 8.55 7.49
2025 12.1 10.1
2026 17.2 13.7
Terminal Value

Assuming the company was sold after the projection period at an exit multiple of 30, the terminal value of the company would be 515 billion. This corresponds to a present value of 394 billion.

Intrinsic Value Per Share

The total present value of the projected cash flows is 41.0 billion. Adding in the terminal value gives a total present value of 435 billion.

There are presently 135.0 million outstanding shares, so the intrinsic value per share is 3218.03.

Financial Statements

The following data was to determine the past cash flows.

Current Assets 10,188,000,000
Current Cash 2,182,000,000
Current Liabilities 6,372,000,000
Current Debt 42,000,000
Non-Cash Working Capital (NCWC) 1,676,000,000
Change in NCWC 717,000,000
EBIT 2,686,000,000
Tax Provision 344,000,000
Depreciation and Amortization 1,708,000,000
Capital Expenditure -1,352,000,000
Unlevered Free Cash Flow 3,248,511,602
Current Assets 3,817,000,000
Current Cash 750,000,000
Current Liabilities 2,183,000,000
Current Debt 75,000,000
Non-Cash Working Capital (NCWC) 959,000,000
Change in NCWC -113,000,000
EBIT 1,258,000,000
Tax Provision 154,000,000
Depreciation and Amortization 845,000,000
Capital Expenditure -583,000,000
Unlevered Free Cash Flow 1,135,286,115
Current Assets 3,757,000,000
Current Cash 750,000,000
Current Liabilities 2,039,000,000
Current Debt 104,000,000
Non-Cash Working Capital (NCWC) 1,072,000,000
Change in NCWC 367,000,000
EBIT 842,000,000
Tax Provision 86,000,000
Depreciation and Amortization 613,000,000
Capital Expenditure -399,000,000
Unlevered Free Cash Flow 1,275,220,408
Current Assets 2,285,000,000
Current Cash 381,000,000
Current Liabilities 1,237,000,000
Current Debt 38,000,000
Non-Cash Working Capital (NCWC) 705,000,000
Change in NCWC 108,000,000
EBIT 797,000,000
Tax Provision -19,000,000
Depreciation and Amortization 538,000,000
Capital Expenditure -336,000,000
Unlevered Free Cash Flow 1,107,000,000
Current Assets 2,004,000,000
Current Cash 306,000,000
Current Liabilities 1,134,000,000
Current Debt 33,000,000
Non-Cash Working Capital (NCWC) 597,000,000
Change in NCWC 116,000,000
EBIT 756,000,000
Tax Provision 109,000,000
Depreciation and Amortization 521,000,000
Capital Expenditure -269,000,000
Unlevered Free Cash Flow 940,472,160
Current Assets 1,792,000,000
Current Cash 323,000,000
Current Liabilities 1,031,000,000
Current Debt 43,000,000
Non-Cash Working Capital (NCWC) 481,000,000
Change in NCWC -6,000,000
EBIT 613,000,000
Tax Provision 72,000,000
Depreciation and Amortization 525,000,000
Capital Expenditure -288,000,000
Unlevered Free Cash Flow 700,701,298
Current Assets 1,383,000,000
Current Cash 228,000,000
Current Liabilities 705,000,000
Current Debt 37,000,000
Non-Cash Working Capital (NCWC) 487,000,000
Change in NCWC -107,000,000
EBIT 421,000,000
Tax Provision 36,000,000
Depreciation and Amortization 350,000,000
Capital Expenditure -180,000,000
Unlevered Free Cash Flow 359,770,491
Current Assets 1,432,000,000
Current Cash 129,000,000
Current Liabilities 767,000,000
Current Debt 58,000,000
Non-Cash Working Capital (NCWC) 594,000,000
Change in NCWC 12,000,000
EBIT 346,000,000
Tax Provision 4,000,000
Depreciation and Amortization 358,000,000
Capital Expenditure -215,000,000
Unlevered Free Cash Flow 480,343,283
Current Assets 1,337,000,000
Current Cash 142,000,000
Current Liabilities 684,000,000
Current Debt 71,000,000
Non-Cash Working Capital (NCWC) 582,000,000
Change in NCWC 42,000,000
EBIT 400,000,000
Tax Provision 28,000,000
Depreciation and Amortization 341,000,000
Capital Expenditure -239,000,000
Unlevered Free Cash Flow 412,235,294

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