Intrinsic Valuation of NESTLEIND
	NESTLEIND Free Cash Flow Average and Growth over past 5Y					Key Statistics
	Year		FCF	FCF Growth
	2021		$16,604,700,000	-21.87%		EPS (FY)	222.46		Market Cap	1921B
	2020		$21,253,300,000	-11.07%		P/E Ratio	90.88		Total Asset	86B
	2019		$23,899,700,000	11.78%		Net Income	21B		Total Debt	3B
	2018		$21,381,400,000	19.55%		EBITDA	36B		Total Liab	62B
	2017		$17,885,300,000	28.24%		Opr Margin	0.2068		Debt/Equity	0.12
	2016		$13,946,500,000			PreTax Margin	0.1821		BV/Share	216.20
	5Y Average FCF		$20,204,880,000	5.32%
						Overall Market Assumptions:
	Assumptions:					P/E for No-Growth Company:			7.00
	Perpetual Growth Rate (g):	2.50%				Historical US Bond Yield:			4.40%
	Discount Rete (WACC):	6.21%				Current US Bond Yield:			1.48%
	Forcasting Future Free Cash Flow for next 6Y					Modified Benjamin Graham's Intrinsic Value
	Year		FCF Projection
	2022		$17,488,808,372			MBG Intrinsic Value			$4,670.65
	2023		$18,419,990,622
	2024		$19,400,753,173
	2025		$20,433,735,901
	2026		$21,521,719,242
	2027		$22,667,631,675
	Terminal Value		$625,914,680,238			Net Worth/Share			$246.43
	DCF Valuation			DCF Valuation "What If" Scenario Table
	Enterprise Value	$507,240,372,016				Growth Rate
	(+) Cash & Cash Equivalents	$7,986,900,000			5316.24	1.50%	2.00%	2.50%	3.00%	3.50%
	(-) Total Debt	$2,658,200,000		WACC	6.11%	4479.8	4914.5	5469.5	6203.1	7217.6
	Equity Value	$512,569,072,016			6.16%	4430.4	4854.0	5393.4	6103.4	7080.4
	Shares Outstanding	96415716			6.21%	4382.0	4794.9	5319.2	6006.9	6948.3
					6.71%	3949.7	4274.1	4675.6	5185.4	5853.9
	DCF Intrinsic Value	$5,316.24			7.21%	3593.9	3854.1	4169.6	4560.0	5055.6
© Swarnadeep Seth (2022)