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JM Smucker Processed & Packaged Goods

JM Smucker Processed & Packaged Goods. Connor Myers. “With a name like Smucker’s , it has to be good”. Comparable Companies (Processed & Packaged Goods). Starbucks (SBUX) Green Mountain Coffee (GMCR) Mondelez (MDLZ). RNEA of Comparables. Breaking Apart RNEA.

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JM Smucker Processed & Packaged Goods

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  1. JM SmuckerProcessed & Packaged Goods Connor Myers

  2. “With a name like Smucker’s, it has to be good”

  3. Comparable Companies (Processed & Packaged Goods) • Starbucks (SBUX) • Green Mountain Coffee (GMCR) • Mondelez (MDLZ)

  4. RNEA of Comparables

  5. Breaking Apart RNEA EPAT Sales RNEA = ______ * _________ Sales avg(NEA) $603,042 5,897,700 RNEA =________ * __________ 5,897,700($7,028,154 + $7,114,737)/2 10.23% * .834 RNEA = 8.53%

  6. JM Smucker’s EPM

  7. JM Smucker’s EATO

  8. EPM and EATO of Comparables

  9. Parsimonious - Revenues Assume: 6.5%

  10. Parsimonious – EPM Assume: 10%

  11. EATO of Comparables Assume: .80

  12. Assumptions for JM Smucker Sales growth rate: 6.5% Enterprise Profit Margin (EPM): 10.0% (EPAT / Sales) Enterprise Asset Turnover (EATO): .80 (Sales / NEA)

  13. Parsimonious Assumptions

  14. Calculating FCF

  15. Adding Continuing Values

  16. Questions?

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