Free Cash Flow Build Up
Apple Inc. (AAPL)
$247.74
-10.7 (-4.14%)
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 | 170,910.00 | 182,788.25 | 233,713.05 | 215,647.03 | 229,232.79 | 265,589.12 | 260,171.10 | 280,646.56 | 302,733.45 | 326,558.57 | 352,258.73 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EBITDA | 55,750.84 | 60,448.07 | 82,477.34 | 70,538.14 | 71,497.71 | 81,801.45 | 76,464.29 | 90,227.87 | 97,328.80 | 104,988.58 | 113,251.18 |
| EBIT | 48,999.90 | 52,496.78 | 71,212.37 | 60,036.13 | 61,342.70 | 70,885.73 | 63,924.04 | 77,654.90 | 83,766.34 | 90,358.76 | 97,469.99 |
| Tax Rate | 26.15% | 26.13% | 26.37% | 25.56% | 24.56% | 18.34% | 15.94% | 23.29% | 23.29% | 23.29% | 23.29% |
| EBIAT | 36,184.01 | 38,781.44 | 52,434.85 | 44,692.54 | 46,279.09 | 57,883.75 | 53,732.09 | 59,566.96 | 64,254.88 | 69,311.74 | 74,766.57 |
| Depreciation | 6,750.94 | 7,951.29 | 11,264.97 | 10,502.01 | 10,155.01 | 10,915.71 | 12,540.25 | 12,572.97 | 13,562.46 | 14,629.82 | 15,781.19 |
| Accounts Receivable | - | -4,347.48 | 605.57 | 1,086.91 | -2,116.36 | -5,305.77 | 264.86 | 48.38 | -1,800.08 | -1,941.75 | -2,094.56 |
| Inventories | - | -341.69 | -258.44 | 225.60 | -2,724.83 | 902.46 | -153.43 | 350.04 | -295.96 | -319.26 | -344.38 |
| Accounts Payable | - | 7,824.50 | 5,304.39 | 1,784.36 | 11,770.45 | 6,824.13 | -9,647.55 | 2,796.55 | 3,858.58 | 4,162.25 | 4,489.82 |
| Capital Expenditure | - | -740.41 | -1,682.95 | -2,043.95 | 751.44 | -514.82 | 2,821.12 | -4,136.79 | -1,150.73 | -1,241.29 | -1,338.98 |
| UFCF | 42,934.96 | 49,127.65 | 67,668.39 | 56,247.47 | 64,114.80 | 70,705.45 | 59,557.35 | 71,198.11 | 78,429.15 | 84,601.52 | 91,259.66 |
| WACC | |||||||||||
| PV UFCF | 71,198.11 | 78,429.15 | 84,601.52 | 91,259.66 | |||||||
| SUM PV UFCF | 735,844.50 |