Company valuation
Explore company DCF models and the cash-flow assumptions, valuation methods and company analysis behind each model.
50 company DCF models · Page 2 of 5
Company DCF analysis
A Chevron DCF needs commodity prices, project timing and ownership scope before a cash-growth assumption. Sales, affiliate earnings and affiliate distributions are different measures. FY2025 includes only part of the Hess ownership period, so the later combined business cannot be forecast by relabelling the historical year.
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Company DCF analysis
A Cisco DCF must explain why higher FY2026 revenue and operating profit did not increase operating cash. Products and services provide different recognition and delivery patterns, but neither category is a disclosed cash margin. Use the latest completed annual basis rather than inventing a newer quarter.
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Company DCF analysis
A Coca-Cola DCF should separate beverage operating economics from the fairlife payment and changes in the bottling perimeter. FY2025 operating profit improved much faster than sales, partly reflecting a different operating-charge base. An adjusted cash comparison does not reverse an actual acquisition-related payment.
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Company DCF analysis
A Comcast DCF needs separate connectivity and entertainment investment cases, followed by a bridge to the post-Versant perimeter. FY2025 operating profit fell while consolidated net income rose, reflecting different nonoperating effects. Physical capex alone is also an incomplete investment deduction.
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Company DCF analysis
A Costco DCF should model merchandise trading, membership recognition and warehouse expansion separately. The sales denominator is large relative to operating profit, so a small margin change can matter more than a headline growth rate. Use the audited FY2026 cash figure rather than the preliminary release amount.
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Company DCF analysis
A Disney DCF needs different investment clocks for content, sports rights, parks and cruise capacity. FY2025 cash also benefited from tax-payment timing, while the subsequent portfolio changed. A group earnings increase cannot stand in for a cash forecast of the retained businesses.
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Company DCF analysis
An Eli Lilly DCF must fund manufacturing capacity and research while testing concentrated product demand. Mounjaro and Zepbound account for a large part of FY2025 revenue, but neither product has a disclosed standalone free-cash-flow margin here. Capacity payments, usable output and sales collections occur at different times.
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Company DCF analysis
An ExxonMobil DCF needs separate commodity, production and manufacturing-margin cases, with capital definitions kept consistent. The annual operating reference is the historical group; a later equity valuation must also reconcile the successor public parent. The annual statement below is explicitly the issuer release’s preliminary presentation.
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Company DCF analysis
A FedEx DCF should connect shipment economics with network costs and then rebuild the perimeter after Freight’s separation. The May-ending FY2026 year still contains Freight. The following transition period is not another twelve-month year, so historical group cash cannot simply become a continuing-business run rate.
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Company DCF analysis
A Home Depot DCF should distinguish established-store trading from growth bought through acquisitions. FY2025 sales increased while operating profit declined. Inventory, supplier funding and the cash paid for acquired businesses must all fit the same operating and investment case.
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Company DCF analysis
A Honeywell DCF must first identify the business being valued. The FY2025 historical continuing group still included Aerospace and then-consolidated Quantinuum, while the later retained issuer is an automation business. Historical conglomerate cash cannot establish the retained company’s future conversion.
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Company DCF analysis
An IBM DCF must align software, consulting, infrastructure and financing with the investor cash boundary. IBM’s reported free cash flow can exceed GAAP operating cash because it excludes a financing-receivable movement. That is a definition change, not another receipt from the same operations.
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Company analyses