Free Cash Flow Build Up

Apple Inc (AAPL)

$ 131.24
-1.755 (-1.32%)
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 170,910182,795233,715215,639229,234265,595260,174274,515295,187.38317,416.49341,319.57367,022.68394,661.36
EBITDA 55,75660,44982,48770,52971,50181,80176,47777,34493,446.32100,483.30108,050.21116,186.94124,936.41
EBIT 48,99952,50371,23060,02461,34470,89863,93066,28880,393.6586,447.7192,957.6699,957.84107,485.18
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 36,183.3538,786.0352,447.8344,683.5146,280.0757,893.7653,737.1056,723.8662,558.6067,269.5872,335.3277,782.5483,639.96
Depreciation 6,7577,94611,25710,50510,15710,90312,54711,05613,052.6614,035.6015,092.5516,229.0917,451.23
Accounts Receivable --4,3586111,095-19,919-13,3223,1918,3591,658.22-2,694.93-2,897.87-3,116.09-3,350.75
Inventories --347-238217-2,723899-1504559.13-301.36-324.06-348.46-374.70
Accounts Payable -7,8295,2941,80411,7556,839-9,652-3,9408,514.633,826.304,114.444,424.284,757.45
Capital Expenditure -8,165-9,571-11,247-12,734-12,795-13,313-10,495-7,309-14,029.26-15,085.74-16,221.77-17,443.35-18,756.92
UFCF 34,775.3540,285.0358,124.8445,570.5132,755.0749,899.7649,178.1064,934.8671,813.9767,049.4572,098.6277,528.0183,366.27
WACC
PV UFCF 56,540.6946,840.7144,692.1542,642.1540,686.17
SUM PV UFCF 260,789.91