Discounted Cash Flow (DCF) Analysis Levered
Facebook Inc (FB)
$274.5
1.63 (+0.60%)
Free Cash Flow
Year A/P | 2013 Actual | 2014 Actual | 2015 Actual | 2016 Actual | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected |
| Revenue | 7,872.00 | 12,466.00 | 17,928.00 | 27,638.00 | 40,653.00 | 55,838.00 | 70,697.00 | 102,203.07 | 147,749.80 | 213,594.40 | 308,782.59 | 446,391.35 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||||
| Operating Cash Flow | 4,222.00 | 5,457.00 | 8,599.00 | 16,108.00 | 24,216.00 | 29,274.00 | 36,314.00 | 53,585.69 | 77,466.12 | 111,988.84 | 161,896.59 | 234,045.70 |
| Operating Cash Flow (%) | ||||||||||||
| Capital Expenditure | -1,362.00 | -1,831.00 | -2,523.00 | -4,491.00 | -6,733.00 | -13,915.00 | -15,102.00 | -18,273.34 | -26,416.85 | -38,189.49 | -55,208.62 | -79,812.30 |
| Capital Expenditure (%) | ||||||||||||
| Free Cash Flow | 2,860.00 | 3,626.00 | 6,076.00 | 11,617.00 | 17,483.00 | 15,359.00 | 21,212.00 | 35,312.35 | 51,049.27 | 73,799.35 | 106,687.98 | 154,233.40 |
Weighted Average Cost Of Capital
| Share price | $ 274.5 |
|---|---|
| Beta | 1.272 |
| Diluted Shares Outstanding | 2,876.00 |
| Cost of Debt | |
| Tax Rate | 25.50 |
| After-tax Cost of Debt | 3.73% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 12.588 |
| Total Debt | 10,601.00 |
| Total Equity | 789,462.00 |
| Total Capital | 800,063.00 |
| Debt Weighting | 1.33 |
| Equity Weighting | 98.67 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2013 Actual | 2014 Actual | 2015 Actual | 2016 Actual | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected |
| Revenue | 7,872.00 | 12,466.00 | 17,928.00 | 27,638.00 | 40,653.00 | 55,838.00 | 70,697.00 | 102,203.07 | 147,749.80 | 213,594.40 | 308,782.59 | 446,391.35 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 4,222.00 | 5,457.00 | 8,599.00 | 16,108.00 | 24,216.00 | 29,274.00 | 36,314.00 | 53,585.69 | 77,466.12 | 111,988.84 | 161,896.59 | 234,045.70 |
| Capital Expenditure | -1,362.00 | -1,831.00 | -2,523.00 | -4,491.00 | -6,733.00 | -13,915.00 | -15,102.00 | -18,273.34 | -26,416.85 | -38,189.49 | -55,208.62 | -79,812.30 |
| Free Cash Flow | 2,860.00 | 3,626.00 | 6,076.00 | 11,617.00 | 17,483.00 | 15,359.00 | 21,212.00 | 35,312.35 | 51,049.27 | 73,799.35 | 106,687.98 | 154,233.40 |
| WACC | ||||||||||||
| PV LFCF | 13,792.18 | 17,727.98 | 22,786.92 | 29,289.49 | 37,647.67 | |||||||
| SUM PV LFCF | 276,005.67 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 12.47 |
| Free cash flow (t + 1) | 160,402.74 |
| Terminal Value | 1,893,774.95 |
| Present Value of Terminal Value | 1,052,312.89 |
Intrinsic Value
| Enterprise Value | 1,328,318.56 |
|---|---|
| Net Debt | -18,606.00 |
| Equity Value | 1,346,924.56 |
| Shares Outstanding | 2,876.00 |
| Equity Value Per Share | 468.33 |