Intrinsic value of Molson Coors Beverage Company (TAP)

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$46.8

STOCK VALUATION INPUT DATA

Revenue, mln $
Initial revenue growth rate, %
Variable cost ratio, %
Fixed operating expenses, mln $
Production assets / Revenue, %
Working capital / Revenue, %
Interest rate on debt, %
Life of production assets, yrs
Initial discount rate, %
Shares outstanding, mln
Adjusted equity ratio
Revenue / Adjusted assets

Based on fiscal year data as of 2019-12-31 and quarterly data as of 2020-09-30.

NOTE: The bar chart shows historic and forecasted yearly revenue growth rates. Its purpose is to help you in determining what initial revenue rate you want to base your stock valuation on. Please make sure that you are confident in the value you select - for most stocks it is by far the most important parameter in valuation.

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  1. Annual
  2. Quarterly YoY
  3. Quarterly QoQ

Annual revenue growth rates, % (past and forecasted)

COMPANY DESCRIPTION: Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products in the United States, Canada, Europe, and internationally. The company sells various products under the Blue Moon, Coors Banquet, Coors Light, Miller Genuine Draft, Miller Lite, Hamm's, Icehouse, Keystone, Mickey's, Miller64, Miller High Life, Milwaukee's Best, Olde English, Steel Reserve, Hop Valley, Leinenkugel's, Peroni Nastro Azurro, Pilsner Urquell, Revolver, Saint Archer, Sol, Terrapin, Crispin, Smith & Forge, Arnold Palmer Spiked, Cape Line, Henry's Hard, Redd's, and Steel Reserve Alloy Series brands. It also offers various brands, such as Belgian Moon, Coors Original, Aquarelle, Carling, Carling Black Label, Coors Edge, Coors Slice, Exel, Mad Jack, Molson Canadian, Molson Dry, Molson Export, Molson Ultra, Old Style Pilsner, Rickard's, Brasseurs de Montréal, Creemore Springs, Granville Island, Le Trou du Diable, Heineken, Heineken 0.0, Strongbow cider, Dos Equis, and Moretti. In addition, the company provides its products under the Staropramen, Bergenbier, Borsodi, Jelen, Kamenitza, Niksicko, Ozujsko, Aspall Cider, Bavaria, Beck's, Branik, Cobra, Corona Extra, Lowenbrau, Pardubicky Pivovar, Rekorderlig cider, Sharp's Doom Bar, and Stella Artois brand names. Further, it offers its products under the Thunderbolt, Carling Strong, Miller Ace, Miller Chill, Miller Ultra, Singha, and Zima brands. The company was formerly known as Molson Coors Brewing Company and changed its name to Molson Coors Beverage Company in January 2020. Molson Coors Beverage Company was founded in 1873 and is headquartered in Denver, Colorado.

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year2019(a)2020202120222023202420252026202720282029203020312032203320342035203620372038203920402041204220432044

INCOME STATEMENT

Revenue growth rate, %-1.8NaN
Revenue, $10579.4NaN
Variable operating expenses, $mNaN
Fixed operating expenses, $mNaN
Total operating expenses, $m9814.9996NaN
Operating income, $m764.4004NaN
EBITDA, $m1637.0004NaN
Interest expense (income), $mNaN
Earnings before tax, $m475.4NaN
Tax expense, $m233.7NaN
Net income, $m241.7NaN

BALANCE SHEET

Cash and short-term investments, $m523.4NaN
Total assets, $m28859.8NaN
Adjusted assets (=assets-cash), $m28336.399999999998NaN
Average production assets, $m26240NaN
Working capital, $m-1511.1NaN
Total debt, $m9037.7NaN
Total liabilities, $m15186.699999999999NaN
Total equity, $m13673.1NaN
Debt-to-equity ratio0.661NaN
Adjusted equity ratio0.497NaN

CASH FLOW

Net income, $m241.7NaN
Depreciation, amort., depletion, $m872.6NaN
Funds from operations, $mNaN
Change in working capital, $mNaN
Cash from operations, $m1897.3NaN
Maintenance CAPEX, $mNaN
New CAPEX, $mNaN
Total CAPEX, $m-477.9NaN
Cash from investing activities, $mNaN
Free cash flow, $m2375.2NaN
Issuance/(repurchase) of shares, $mNaN
Retained Cash Flow (-), $mNaN
Cash flow adjustment, $mNaN
Cash available for distribution, $mNaN
Discount rate, %NaN
PV of cash for distribution, $mNaN
Current shareholders' claim on cash, %NaN