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Major Indexes

Discounted Cash Flow (DCF) Analysis Levered


Alphabet Inc.

Alphabet Inc. (GOOG)

$1464.7
26.66 (+1.85%)

Free Cash Flow

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Projected
2021
Projected
2022
Projected
2023
Projected
Revenue 90,272.00110,854.02136,816.03161,853.36196,668.02238,971.31290,374.04352,833.49
Revenue (%)
Operating Cash Flow 36,036.5837,091.7547,967.7054,512.2169,876.1584,906.51103,169.89125,361.74
Operating Cash Flow (%)
Capital Expenditure 10,209.7613,180.5425,133.1023,549.6627,592.5233,527.6740,739.4849,502.54
Capital Expenditure (%)
Free Cash Flow 46,246.3550,272.3073,100.8078,061.8897,468.67118,434.18143,909.37174,864.28

Weighted Average Cost Of Capital

Weighted Average Cost Of Capital

Share price $ 1,464.7
Diluted Shares Outstanding 352.21
Cost of Debt
Tax Rate 13.33
After-tax Cost of Debt -0.62
Risk-Free Rate
Market Risk Premium
Cost of Equity 10.60
Total Debt 4,554.00
Total Equity 515,887.85
Total Capital 520,441.85
Debt Weighting 0.88
Equity Weighting 99.12
Wacc

Build Up Free Cash Flow

Year
A/P
2016
Actual
2017
Actual
2018
Actual
2019
Actual
2020
Projected
2021
Projected
2022
Projected
2023
Projected
Revenue 90,272.00110,854.02136,816.03161,853.36196,668.02238,971.31290,374.04352,833.49
Operating Cash Flow 36,036.5837,091.7547,967.7054,512.2169,876.1584,906.51103,169.89125,361.74
Capital Expenditure 10,209.7613,180.5425,133.1023,549.6627,592.5233,527.6740,739.4849,502.54
Free Cash Flow 46,246.3550,272.3073,100.8078,061.8897,468.67118,434.18143,909.37174,864.28
WACC
PV LFCF 119,119.41130,928.99143,909.37158,176.64
SUM PV LFCF -

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 10.55
Free cash flow (t + 1) 69,337.13
Terminal Value 1,058,582.21
Present Value of Terminal Value 641,107.50

Intrinsic Value

Enterprise Value -
Net Debt -115,120.37
Equity Value -
Shares Outstanding 352.21
Equity Value Per Share -