Free Cash Flow Build Up
Microsoft Corporation (MSFT)
$ 299.56
0.98 0.33%
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 89,950 | 110,360 | 125,843 | 143,015 | 168,088 | 196,619.77 | 229,994.61 | 269,034.60 | 314,701.36 | 368,119.73 |
|---|---|---|---|---|---|---|---|---|---|---|
| EBITDA | 34,149 | 49,468 | 58,056 | 68,423 | 85,134 | 89,428.18 | 104,608 | 122,364.48 | 143,135 | 167,431.17 |
| EBIT | 25,371 | 39,207 | 46,374 | 55,627 | 73,448 | 72,031.61 | 84,258.48 | 98,560.77 | 115,290.77 | 134,860.58 |
| Tax Rate | 8.40% | 54.57% | 10.18% | 16.51% | 13.83% | 20.70% | 20.70% | 20.70% | 20.70% | 20.70% |
| EBIAT | 23,239.31 | 17,812.67 | 41,652.53 | 46,444.29 | 63,292.63 | 57,123.19 | 66,819.45 | 78,161.59 | 91,428.98 | 106,948.41 |
| Depreciation | 8,778 | 10,261 | 11,682 | 12,796 | 11,686 | 17,396.57 | 20,349.52 | 23,803.71 | 27,844.23 | 32,570.59 |
| Accounts Receivable | - | -6,689 | -3,043 | -2,487 | -6,032 | -6,973.16 | -7,641.18 | -8,938.22 | -10,455.42 | -12,230.15 |
| Inventories | - | -481 | 599 | 168 | -741 | -1,048.41 | -625.40 | -731.56 | -855.74 | -1,001 |
| Accounts Payable | - | 1,227 | 765 | 3,148 | 2,633 | 1,062.56 | 2,754.18 | 3,221.68 | 3,768.54 | 4,408.22 |
| Capital Expenditure | -8,129 | -11,632 | -13,925 | -15,441 | -20,622 | -21,120.11 | -24,705.11 | -28,898.63 | -33,803.97 | -39,541.96 |
| UFCF | 23,888.31 | 10,498.67 | 37,730.53 | 44,628.29 | 50,216.63 | 46,440.63 | 56,951.46 | 66,618.57 | 77,926.61 | 91,154.11 |
| WACC | ||||||||||
| PV UFCF | 50,402.02 | 56,951.46 | 61,382.63 | 66,158.58 | 71,306.13 | |||||
| SUM PV UFCF | 259,960.13 |