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MercadoLibre Inc.

MercadoLibre Inc. (MELI)

Consumer Cyclical

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 472.60556.53651.81844.411,216.551,439.661,804.902,262.812,836.883,556.604,458.91
EBITDA 177.32150.32194.11239.98121.4136.57406.83510.04639.43801.661,005.04
EBIT 165.46133.34170.90210.9380.54-9.21349.43438.08549.22688.56863.24
Tax Rate 27.95%40.37%29.70%26.42%74.51%44.10%40.51%40.51%40.51%40.51%40.51%
EBIAT 119.2179.51120.14155.2120.52-5.15207.87260.61326.73409.62513.54
Depreciation 11.8616.9723.2029.0540.8845.7857.4071.9690.21113.10141.79
Accounts Receivable --53.91-28.50-173.03-215.90153.80-136.61-134.99-169.24-212.17-266.00
Inventories ----0.90-1.46-2.051.54-0.78-0.98-1.22-1.53
Accounts Payable -67.3345.50232.22353.4497.0738.89261.37327.68410.81515.04
Capital Expenditure --79.3028.0614.42-2.1122.7988.6647.2659.2474.2793.12
UFCF 131.0730.60188.40256.96195.38312.23257.74505.43633.65794.41995.95
WACC
PV UFCF 257.74505.43633.65794.41995.95
SUM PV UFCF 4,301.83