MeritValue

BRUNSWICK CORP

BCdata completeness 100%17 fiscal years on file
i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$5.85B1$6.81B2$6.4B3$5.24B3$5.36B3
Net income$593.3M4$677M5$420.4M6$130.1M6−$137.3M6
Operating cash flow$574M7$586.1M8$733.6M9$431.4M9$562.1M9
Capital expenditure$267.1M10$388.3M11$289.3M12$167.4M12$165.8M12
Free cash flow (derived)$306.9M7$197.8M8$444.3M9$264M9$396.3M9
Total debt$3.7B13$5.15B14$5.35B15$5.07B16$4.81B16
Cash & equivalents$354.5M17$595.6M18$467.8M19$269M19$256.8M19
Diluted shares78.4M75.2M70.5M67.4M65.9M

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

ii. Your slice — ownership made literal
If you owned
shares
You’d own
0.000015%
of the whole company
Your share of last year’s profit
−$20.83
Your share of its debt
$729.65
Your share of free cash flow
$60.14
iii. What it’s worth — engine v0.1.0
DCF · Growth Exit 10Y
$90.72
assumptions (10)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears10
  • fcfGrowth8.9%
  • fcfBase$396.3M
DCF · Growth Exit 5Y
$59.85
assumptions (10)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • terminalGrowth2.5%
  • projectionYears5
  • fcfGrowth8.9%
  • fcfBase$396.3M
Earnings Power Value
$67.22
assumptions (8)
  • riskFreeRate4.5%
  • equityRiskPremium5.0%
  • beta100.0%
  • equityWeight85.0%
  • costOfDebtSpread1.5%
  • taxRate21.0%
  • normalizedEarnings$420.4M
  • growthAssumed0.0%
Graham Number
not applicable
diluted EPS missing or non-positive — Graham Number undefined

Different models answer different questions — which to trust when →

iv. The price question — last, on purpose
What does today’s price assume?
Type a price. The ledger answers.
Or set your own belief
FCF growth, next 5 years8.9%
Discount rate (WACC)8.78%
Terminal growth2.5%
At your growth, a share is worth $59.85

Default growth 8.9%= 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.

Sources — the receipts
  1. 10-K · period ending 2021-12-31 · accession 0000014930-24-000054 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K · period ending 2022-12-31 · accession 0000014930-25-000025 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 10-K · period ending 2023-12-31 · accession 0000014930-26-000027 (RevenueFromContractWithCustomerExcludingAssessedTax)
  4. 10-K · period ending 2021-12-31 · accession 0000014930-24-000054 (NetIncomeLoss)
  5. 10-K · period ending 2022-12-31 · accession 0000014930-25-000025 (NetIncomeLoss)
  6. 10-K · period ending 2023-12-31 · accession 0000014930-26-000027 (NetIncomeLoss)
  7. 10-K · period ending 2021-12-31 · accession 0000014930-24-000054 (NetCashProvidedByUsedInOperatingActivities)
  8. 10-K · period ending 2022-12-31 · accession 0000014930-25-000025 (NetCashProvidedByUsedInOperatingActivities)
  9. 10-K · period ending 2023-12-31 · accession 0000014930-26-000027 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2021-12-31 · accession 0000014930-24-000054 (PaymentsToAcquirePropertyPlantAndEquipment)
  11. 10-K · period ending 2022-12-31 · accession 0000014930-25-000025 (PaymentsToAcquirePropertyPlantAndEquipment)
  12. 10-K · period ending 2023-12-31 · accession 0000014930-26-000027 (PaymentsToAcquirePropertyPlantAndEquipment)
  13. 10-K · period ending 2021-12-31 · accession 0000014930-23-000054 (LongTermDebtNoncurrent)
  14. 10-K · period ending 2022-12-31 · accession 0000014930-24-000054 (LongTermDebtNoncurrent)
  15. 10-K · period ending 2023-12-31 · accession 0000014930-25-000025 (LongTermDebtNoncurrent)
  16. 10-K · period ending 2024-12-31 · accession 0000014930-26-000027 (LongTermDebtNoncurrent)
  17. 10-K · period ending 2021-12-31 · accession 0000014930-24-000054 (CashAndCashEquivalentsAtCarryingValue)
  18. 10-K · period ending 2022-12-31 · accession 0000014930-25-000025 (CashAndCashEquivalentsAtCarryingValue)
  19. 10-K · period ending 2023-12-31 · accession 0000014930-26-000027 (CashAndCashEquivalentsAtCarryingValue)