Compañía Cervecerías Unidas S.A.

AI-generated fair value estimate for this company.

Method: 10-year unlevered FCF DCF: $3.19B TTM revenue base; 4% annual revenue growth years 1-5, 3% years 6-10; FCF margin normalized to 7% (partial recovery from a currently depressed ~3.5% net margin toward the company's historical through-cycle profitability, but below its best-year ~9-10% margins); 9.5% WACC; 3% terminal growth; ~$962M net debt (931,796M CLP converted at ~970 CLP/USD); ~188.3M ADR-equivalent shares (based on $2.02B market cap / $10.73 price).

Reasoning: CCU's net income is currently depressed by Chilean peso volatility and one-off items across its multi-country Latin American beverage operations; using a partially-normalized FCF margin between the current depressed level and historical through-cycle margins better captures steady-state earning power than relying on trailing twelve-month net income alone, while a conservative (rather than full) margin recovery and an EM-appropriate discount rate account for ongoing FX and regional macro risk.