Free Cash Flow Build Up
Facebook Inc. (FB)
Technology
Year A/P | 2013 Actual | 2014 Actual | 2015 Actual | 2016 Actual | 2017 Actual | 2018 Actual | 2019 Projected | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected |
| Revenue | 7,872.00 | 12,466.10 | 17,928.74 | 27,638.95 | 40,654.13 | 55,838.45 | 82,730.25 | 122,573.14 | 181,604.37 | 269,065.03 | 398,646.75 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EBITDA | 3,765.18 | 6,153.27 | 8,139.65 | 14,858.70 | 23,620.05 | 29,678.14 | 42,415.80 | 62,843.25 | 93,108.56 | 137,949.64 | 204,386.19 |
| EBIT | 2,754.41 | 4,910.40 | 6,194.38 | 12,517.68 | 20,595.38 | 25,361.83 | 34,515.06 | 51,137.51 | 75,765.34 | 112,253.93 | 166,315.42 |
| Tax Rate | 45.53% | 40.12% | 40.46% | 18.38% | 22.63% | 12.81% | 29.99% | 29.99% | 29.99% | 29.99% | 29.99% |
| EBIAT | 1,500.22 | 2,940.24 | 3,688.23 | 10,216.74 | 15,935.07 | 22,112.72 | 24,164.28 | 35,801.80 | 53,043.95 | 78,589.92 | 116,438.82 |
| Depreciation | 1,010.76 | 1,242.87 | 1,945.27 | 2,341.02 | 3,024.67 | 4,316.31 | 7,900.74 | 11,705.73 | 17,343.22 | 25,695.71 | 38,070.76 |
| Accounts Receivable | - | -568.77 | -880.49 | -1,435.40 | -1,840.04 | -1,754.58 | -4,018.61 | -5,589.96 | -8,282.08 | -12,270.73 | -18,180.31 |
| Inventories | - | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | - | 110.07 | 34.64 | 170.82 | 185.18 | 594.10 | 730.62 | 1,008.03 | 1,493.49 | 2,212.75 | 3,278.42 |
| Capital Expenditure | - | 469.41 | 691.30 | 1,968.76 | 2,240.99 | 7,182.62 | 397.39 | 6,892.82 | 10,212.40 | 15,130.69 | 22,417.64 |
| UFCF | 2,510.99 | 4,193.82 | 5,478.94 | 13,261.94 | 19,545.88 | 32,451.17 | 29,174.42 | 49,818.43 | 73,810.98 | 109,358.35 | 162,025.33 |
| WACC | |||||||||||
| PV UFCF | 29,174.42 | 49,818.43 | 73,810.98 | 109,358.35 | 162,025.33 | ||||||
| SUM PV UFCF | 501,630.24 |