Discounted Cash Flow (DCF) Analysis Levered
Amazon.com, Inc. (AMZN)
$174.48
+0.06 (+0.03%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
Revenue | 280,522 | 386,064 | 469,822 | 513,983 | 574,785 | 690,529.30 | 829,580.99 | 996,633.48 | 1,197,325.28 | 1,438,430.34 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 38,514 | 66,064 | 46,327 | 46,752 | 84,946 | 89,184.48 | 107,143.54 | 128,719 | 154,639.11 | 185,778.74 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -16,861 | -40,140 | -61,053 | -63,645 | -52,729 | -70,377.56 | -84,549.47 | -101,575.17 | -122,029.33 | -146,602.35 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 21,653 | 25,924 | -14,726 | -16,893 | 32,217 | 18,806.92 | 22,594.07 | 27,143.83 | 32,609.78 | 39,176.40 |
Weighted Average Cost Of Capital
Share price | $ 174.48 |
---|---|
Beta | 1.171 |
Diluted Shares Outstanding | 10,492 |
Cost of Debt | |
Tax Rate | 18.99 |
After-tax Cost of Debt | 3.53% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 9.883 |
Total Debt | 135,611 |
Total Equity | 1,830,644.16 |
Total Capital | 1,966,255.16 |
Debt Weighting | 6.90 |
Equity Weighting | 93.10 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Actual | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected | 2028 Projected |
Revenue | 280,522 | 386,064 | 469,822 | 513,983 | 574,785 | 690,529.30 | 829,580.99 | 996,633.48 | 1,197,325.28 | 1,438,430.34 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 38,514 | 66,064 | 46,327 | 46,752 | 84,946 | 89,184.48 | 107,143.54 | 128,719 | 154,639.11 | 185,778.74 |
Capital Expenditure | -16,861 | -40,140 | -61,053 | -63,645 | -52,729 | -70,377.56 | -84,549.47 | -101,575.17 | -122,029.33 | -146,602.35 |
Free Cash Flow | 21,653 | 25,924 | -14,726 | -16,893 | 32,217 | 18,806.92 | 22,594.07 | 27,143.83 | 32,609.78 | 39,176.40 |
WACC | ||||||||||
PV LFCF | 17,184.69 | 18,864.37 | 20,708.23 | 22,732.31 | 24,954.22 | |||||
SUM PV LFCF | 104,443.82 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 9.44 |
Free cash flow (t + 1) | 40,743.45 |
Terminal Value | 748,960.56 |
Present Value of Terminal Value | 477,066.06 |
Intrinsic Value
Enterprise Value | 581,509.88 |
---|---|
Net Debt | 61,721 |
Equity Value | 519,788.88 |
Shares Outstanding | 10,492 |
Equity Value Per Share | 49.54 |