- Given the increase in debt, the acquisitions that do not lead to growth and the management's focus on themselves, I would leave Unilever to pension funds.
- All the value the company creates for shareholders is in the form of the dividend. Using that as an intrinsic value calculation, I see 4% long-term returns at best.
- At the bottom of the article, I added a video comparing the intrinsic values and shareholder value creation of Unilever to Nestle and Kroger, both with much higher expected returns.
For further details see:
Unilever's Intrinsic Value: The Stock Is A Sell