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Major Indexes

Discounted Cash Flow (DCF) Analysis Levered


MercadoLibre Inc.

MercadoLibre Inc. (MELI)

$454.47
-8.4 (-1.81%)

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
Revenue 472.59556.53651.81844.411,398.101,439.622,296.193,032.814,005.745,290.786,988.06
Revenue (%)
Operating Cash Flow 142.53196.79221.35190.25268.99230.91451.20766.691,012.651,337.511,766.58
Operating Cash Flow (%)
Capital Expenditure 114.2335.2840.8768.9955.2293.29136.85265.67350.90463.47612.15
Capital Expenditure (%)
Free Cash Flow 256.76232.07262.22259.23324.22324.20588.051,032.371,363.551,800.982,378.73

Weighted Average Cost Of Capital

Share price $ 454.47
Diluted Shares Outstanding 48.69
Cost of Debt
Tax Rate -60.38
After-tax Cost of Debt 3.07
Risk-Free Rate
Market Risk Premium
Cost of Equity 15.29
Total Debt 176.67
Total Equity 22,129.46
Total Capital 22,306.14
Debt Weighting 0.79
Equity Weighting 99.21
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
Revenue 472.59556.53651.81844.411,398.101,439.622,296.193,032.814,005.745,290.786,988.06
Operating Cash Flow 142.53196.79221.35190.25268.99230.91451.20766.691,012.651,337.511,766.58
Capital Expenditure 114.2335.2840.8768.9955.2293.29136.85265.67350.90463.47612.15
Free Cash Flow 256.76232.07262.22259.23324.22324.20588.051,032.371,363.551,800.982,378.73
WACC
PV LFCF 895.841,026.751,176.791,348.75
SUM PV LFCF 2,879.69

Terminal Value

Growth in perpetuity method:
Long-term growth rate
WACC (%) 15.24
Free cash flow (t + 1) 1,125.58
Terminal Value 10,014.06
Present Value of Terminal Value 4,927.13

Intrinsic Value

Enterprise Value 6,258.60
Net Debt -2,805.39
Equity Value 9,063.99
Shares Outstanding 48.69
Equity Value Per Share 339.15