Free Cash Flow Build Up
Alphabet Inc. (GOOG)
Technology
Year A/P | 2014 Actual | 2015 Actual | 2016 Actual | 2017 Actual | 2018 Actual | 2019 Projected | 2020 Projected | 2021 Projected | 2022 Projected | 2023 Projected |
| Revenue | 66,001.00 | 74,990.34 | 90,273.37 | 110,855.69 | 136,818.10 | 164,263.81 | 197,215.13 | 236,776.48 | 284,273.85 | 341,299.18 |
|---|---|---|---|---|---|---|---|---|---|---|
| EBITDA | 22,341.34 | 24,814.30 | 30,422.12 | 34,221.15 | 44,055.43 | 53,779.97 | 64,568.23 | 77,520.62 | 93,071.26 | 111,741.35 |
| EBIT | 17,364.86 | 19,752.45 | 24,274.51 | 27,303.76 | 35,025.43 | 42,626.46 | 51,177.33 | 61,443.50 | 73,769.06 | 88,567.14 |
| Tax Rate | 16.31% | 16.81% | 19.35% | 53.44% | 11.96% | 23.57% | 23.57% | 23.57% | 23.57% | 23.57% |
| EBIAT | 14,532.60 | 16,432.40 | 19,578.42 | 12,713.57 | 30,834.98 | 32,578.13 | 39,113.30 | 46,959.43 | 56,379.49 | 67,689.21 |
| Depreciation | 4,976.48 | 5,061.85 | 6,147.62 | 6,917.40 | 9,029.99 | 11,153.51 | 13,390.91 | 16,077.12 | 19,302.19 | 23,174.21 |
| Accounts Receivable | - | -2,170.67 | -2,580.80 | -4,198.72 | -2,501.86 | -4,475.66 | -5,077.80 | -6,096.40 | -7,319.34 | -8,787.60 |
| Inventories | - | - | - | -483.00 | -354.41 | 139.07 | -194.41 | -233.41 | -280.23 | -336.45 |
| Accounts Payable | - | 211.23 | 112.93 | 1,097.04 | 1,240.96 | 40.52 | 886.39 | 1,064.20 | 1,277.68 | 1,533.98 |
| Capital Expenditure | - | -5,693.15 | 1,040.21 | 2,275.07 | 13,155.83 | 166.63 | 5,374.36 | 6,452.46 | 7,746.82 | 9,300.83 |
| UFCF | 19,509.07 | 13,841.66 | 24,298.37 | 18,321.35 | 51,405.50 | 39,602.20 | 53,492.75 | 64,223.39 | 77,106.60 | 92,574.19 |
| WACC | ||||||||||
| PV UFCF | 39,602.20 | 53,492.75 | 64,223.39 | 77,106.60 | 92,574.19 | |||||
| SUM PV UFCF | - |