Definitive Analysis
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Definitive Analysis

Financial Statements

Ticker

Industry

Sector

Campbell Soup Company (0HST.L)

Company Dividend Discount ModelIndustry: Packaged FoodsSector: Consumer Defensive

Valuation Snapshot

Stable Growth$26.25 - $46.91$34.94
Multi-Stage$58.18 - $63.94$61.00
Blended Fair Value$47.97
Current Price$29.91
Upside60.38%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2025202420232022202120202019201820172016
DPS1.50%1.54%1.541.491.491.511.471.421.411.421.401.30
YoY Growth--3.15%-0.45%-0.89%2.73%3.05%0.71%-0.70%1.43%7.69%-1.02%
Dividend Yield--5.13%3.12%3.70%2.85%3.63%2.99%3.04%3.79%3.03%2.40%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)578.00
(-) Cash Dividends Paid (M)463.00
(=) Cash Retained (M)115.00
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)115.6072.2543.35
Cash Retained (M)115.00115.00115.00
(-) Cash Required (M)-115.60-72.25-43.35
(=) Excess Retained (M)-0.6042.7571.65
(/) Shares Outstanding (M)299.00299.00299.00
(=) Excess Retained per Share0.000.140.24
LTM Dividend per Share1.551.551.55
(+) Excess Retained per Share0.000.140.24
(=) Adjusted Dividend1.551.691.79
WACC / Discount Rate5.70%5.70%5.70%
Growth Rate-0.18%0.82%1.82%
Fair Value$26.25$34.94$46.91
Upside / Downside-12.24%16.82%56.85%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)578.00582.75587.55592.38597.25602.17620.23
Payout Ratio80.10%82.08%84.06%86.04%88.02%90.00%92.50%
Projected Dividends (M)463.00478.34493.91509.69525.71541.95573.71

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate5.70%5.70%5.70%
Growth Rate-0.18%0.82%1.82%
Year 1 PV (M)448.04452.53457.02
Year 2 PV (M)433.32442.04450.86
Year 3 PV (M)418.85431.56444.53
Year 4 PV (M)404.64421.10438.06
Year 5 PV (M)390.72410.69431.46
PV of Terminal Value (M)15,299.5416,081.3816,894.87
Equity Value (M)17,395.1118,239.3119,116.79
Shares Outstanding (M)299.00299.00299.00
Fair Value$58.18$61.00$63.94
Upside / Downside94.51%103.95%113.76%

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