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 | 3,814.77 | 6,236.79 | 8,170.13 | 14,770.26 | 23,229.77 | 29,225.85 | 42,324.80 | 62,708.42 | 92,908.79 | 137,653.67 | 203,947.68 |
| EBIT | 2,804.01 | 4,993.92 | 6,224.86 | 12,429.24 | 20,205.10 | 24,909.53 | 34,424.06 | 51,002.68 | 75,565.58 | 111,957.96 | 165,876.91 |
| 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 | 1,527.24 | 2,990.25 | 3,706.37 | 10,144.55 | 15,633.10 | 21,718.37 | 24,100.57 | 35,707.41 | 52,904.09 | 78,382.71 | 116,131.82 |
| 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 | - | 88.39 | 19.65 | 105.84 | 76.82 | 442.74 | 155.39 | 470.15 | 696.57 | 1,032.04 | 1,529.06 |
| 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 | 2,538.00 | 3,283.33 | 4,099.50 | 9,187.26 | 14,653.56 | 17,540.23 | 27,740.70 | 35,400.51 | 52,449.40 | 77,709.03 | 115,133.69 |
| WACC | |||||||||||
| PV UFCF | 27,740.70 | 35,400.51 | 52,449.40 | 77,709.03 | 115,133.69 | ||||||
| SUM PV UFCF | 359,735.20 |