Free Cash Flow Build Up
Apple Inc (AAPL)
$139.07
2.2 (+1.61%)
Year A/P | 2013 Actual | 2014 Actual | 2015 Actual | 2016 Actual | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Projected | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected |
| Revenue | 170,910.00 | 182,795.00 | 233,715.00 | 215,639.00 | 229,234.00 | 265,595.00 | 260,174.00 | 274,515.00 | 295,187.38 | 317,416.49 | 341,319.57 | 367,022.68 | 394,661.36 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EBITDA | 57,048.00 | 61,813.00 | 84,505.00 | 73,333.00 | 76,569.00 | 87,046.00 | 81,860.00 | 81,020.00 | 97,600.95 | 104,950.80 | 112,854.13 | 121,352.62 | 130,491.10 |
| EBIT | 50,291.00 | 53,867.00 | 73,248.00 | 62,828.00 | 66,412.00 | 76,143.00 | 69,313.00 | 69,964.00 | 84,548.29 | 90,915.21 | 97,761.58 | 105,123.53 | 113,039.87 |
| Tax Rate | 26.15% | 26.13% | 26.37% | 25.56% | 24.56% | 18.34% | 15.94% | 14.43% | 22.18% | 22.18% | 22.18% | 22.18% | 22.18% |
| EBIAT | 37,137.43 | 39,793.68 | 53,933.72 | 46,770.89 | 50,103.55 | 62,176.71 | 58,261.85 | 59,869.48 | 65,791.54 | 70,745.98 | 76,073.52 | 81,802.24 | 87,962.37 |
| Depreciation | 6,757.00 | 7,946.00 | 11,257.00 | 10,505.00 | 10,157.00 | 10,903.00 | 12,547.00 | 11,056.00 | 13,052.66 | 14,035.60 | 15,092.55 | 16,229.09 | 17,451.23 |
| Accounts Receivable | - | -4,358.00 | 611.00 | 1,095.00 | -2,120.00 | -5,312.00 | 260.00 | 6,806.00 | -7,105.24 | -1,748.98 | -1,880.69 | -2,022.31 | -2,174.60 |
| Inventories | - | -347.00 | -238.00 | 217.00 | -2,723.00 | 899.00 | -150.00 | 45.00 | 59.13 | -301.36 | -324.06 | -348.46 | -374.70 |
| Accounts Payable | - | 7,829.00 | 5,294.00 | 1,804.00 | 11,755.00 | 6,839.00 | -9,652.00 | -3,940.00 | 8,514.63 | 3,826.30 | 4,114.44 | 4,424.28 | 4,757.45 |
| Capital Expenditure | -9,076.00 | -9,813.00 | -11,488.00 | -12,734.00 | -12,795.00 | -13,313.00 | -10,495.00 | 7,309.00 | -12,347.99 | -13,277.85 | -14,277.74 | -15,352.93 | -16,509.08 |
| UFCF | 34,818.43 | 41,050.67 | 59,369.72 | 47,657.89 | 54,377.55 | 62,192.71 | 50,771.85 | 81,145.48 | 67,964.74 | 73,279.68 | 78,798.02 | 84,731.91 | 91,112.66 |
| WACC | |||||||||||||
| PV UFCF | 53,500.61 | 51,179.52 | 48,827.61 | 46,583.78 | 44,443.07 | ||||||||
| SUM PV UFCF | 275,614.94 |