Discounted Cash Flow (DCF) Analysis Levered
Meta Platforms, Inc. (META)
$303.96
+6.22 (+2.09%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 55,838 | 70,697 | 85,965 | 117,929 | 116,609 | 141,175.76 | 170,918.16 | 206,926.58 | 250,521.13 | 303,300.02 |
---|---|---|---|---|---|---|---|---|---|---|
Revenue (%) | ||||||||||
Operating Cash Flow | 29,274 | 36,314 | 38,747 | 57,683 | 50,475 | 68,064.89 | 82,404.55 | 99,765.25 | 120,783.43 | 146,229.65 |
Operating Cash Flow (%) | ||||||||||
Capital Expenditure | -13,915 | -15,102 | -15,115 | -18,567 | -31,431 | -30,088.23 | -36,427.11 | -44,101.45 | -53,392.58 | -64,641.13 |
Capital Expenditure (%) | ||||||||||
Free Cash Flow | 15,359 | 21,212 | 23,632 | 39,116 | 19,044 | 37,976.66 | 45,977.44 | 55,663.80 | 67,390.85 | 81,588.51 |
Weighted Average Cost Of Capital
Share price | $ 303.96 |
---|---|
Beta | 1.234 |
Diluted Shares Outstanding | 2,702 |
Cost of Debt | |
Tax Rate | 19.50 |
After-tax Cost of Debt | -0.38% |
Risk-Free Rate | |
Market Risk Premium | |
Cost of Equity | 10.422 |
Total Debt | 26,591 |
Total Equity | 821,299.92 |
Total Capital | 847,890.92 |
Debt Weighting | 3.14 |
Equity Weighting | 96.86 |
Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
Revenue | 55,838 | 70,697 | 85,965 | 117,929 | 116,609 | 141,175.76 | 170,918.16 | 206,926.58 | 250,521.13 | 303,300.02 |
---|---|---|---|---|---|---|---|---|---|---|
Operating Cash Flow | 29,274 | 36,314 | 38,747 | 57,683 | 50,475 | 68,064.89 | 82,404.55 | 99,765.25 | 120,783.43 | 146,229.65 |
Capital Expenditure | -13,915 | -15,102 | -15,115 | -18,567 | -31,431 | -30,088.23 | -36,427.11 | -44,101.45 | -53,392.58 | -64,641.13 |
Free Cash Flow | 15,359 | 21,212 | 23,632 | 39,116 | 19,044 | 37,976.66 | 45,977.44 | 55,663.80 | 67,390.85 | 81,588.51 |
WACC | ||||||||||
PV LFCF | 34,499.14 | 37,942.67 | 41,729.92 | 45,895.20 | 50,476.23 | |||||
SUM PV LFCF | 210,543.17 |
Terminal Value
Growth in perpetuity method: | |
---|---|
Long-term growth rate | |
WACC (%) | 10.08 |
Free cash flow (t + 1) | 83,220.28 |
Terminal Value | 1,029,953.97 |
Present Value of Terminal Value | 637,199.92 |
Intrinsic Value
Enterprise Value | 847,743.09 |
---|---|
Net Debt | 11,910 |
Equity Value | 835,833.09 |
Shares Outstanding | 2,702 |
Equity Value Per Share | 309.34 |