Albertsons Companies, Inc.
ACIdata completeness 88%11 fiscal years on fileAlbertsons Companies, Inc. earns about 75% on invested capital, far above its ~9% cost of capital, but has diluted owners by 15% over 5 years — a real edge showing up in the numbers. The estimate methods put fair value between $15.53 and $24.54 a share.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.
| Figure | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 |
|---|---|---|---|---|---|
| Revenue | $71.9B1 | $77.6B2 | $79.2B3 | $80.4B3 | $83.2B3 |
| Net income | $1.62B4 | $1.51B5 | $1.3B6 | $958.6M6 | $217.4M6 |
| Operating cash flow | $3.51B7 | $2.85B8 | $2.66B9 | $2.68B9 | $2.37B9 |
| Capital expenditure | $1.61B10 | $2.15B11 | $2.03B12 | $1.93B12 | $1.84B12 |
| Free cash flow (derived) | $1.91B7 | $700M8 | $628.2M9 | $749.4M9 | $527.3M9 |
| Total debt | — | — | — | — | — |
| Cash & equivalents | $2.9B13 | $455.8M14 | $188.7M15 | $293.6M16 | $198.6M16 |
| Diluted shares | 475.3M | 534.0M | 581.1M | 583.8M | 547.2M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $33.56 of net worth that earned you $3.97 and generated $9.64 of cash last year.
It earned about 75% on invested capital, year after year, against a ~9% cost of capital — the footprint of real pricing power. Competition usually drags returns like this back down; here it hasn't.
seeing a moat in the numbers →Share count is up 15% over 5 years — owners have been diluted. Worth asking what they got for it.
reading capital allocation →Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.
The 3 estimate methods that apply put fair value between $15.53 and $24.54 a share. They rest on different assumptions, so where they diverge is the story; the Graham Number is a stricter floor, not a target.
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears10
- fcfGrowth0.0%
- fcfBase$628.2M
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth0.0%
- fcfBase$628.2M
assumptions (8)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- normalizedEarnings$1.3B
- growthAssumed0.0%
assumptions (1)
- grahamMultiplier2250.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $16.77 |
| Base | 0.0% | $16.77 |
| Bull | 5.0% | $20.74 |
Bear/base/bull growth = 0% / filed history / history + 5pp. Type a price to see the return each case implies.
Default growth 0.0%= this company’s own filed history (median-to-median FCF CAGR, clamped 0–20%). Your adjustments are recorded anonymously. They become the “what do owners actually believe” dataset.
- 10-K · period ending 2022-02-26 · accession 0001646972-24-000060 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2023-02-25 · accession 0001646972-25-000052 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2024-02-24 · accession 0001646972-26-000032 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2022-02-26 · accession 0001646972-24-000060 (NetIncomeLoss)
- 10-K · period ending 2023-02-25 · accession 0001646972-25-000052 (NetIncomeLoss)
- 10-K · period ending 2024-02-24 · accession 0001646972-26-000032 (NetIncomeLoss)
- 10-K · period ending 2022-02-26 · accession 0001646972-24-000060 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2023-02-25 · accession 0001646972-25-000052 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2024-02-24 · accession 0001646972-26-000032 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2022-02-26 · accession 0001646972-24-000060 (PaymentsToAcquireProductiveAssets)
- 10-K · period ending 2023-02-25 · accession 0001646972-25-000052 (PaymentsToAcquireProductiveAssets)
- 10-K · period ending 2024-02-24 · accession 0001646972-26-000032 (PaymentsToAcquireProductiveAssets)
- 10-K · period ending 2022-02-26 · accession 0001646972-23-000045 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2023-02-25 · accession 0001646972-24-000060 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2024-02-24 · accession 0001646972-25-000052 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2025-02-22 · accession 0001646972-26-000032 (CashAndCashEquivalentsAtCarryingValue)