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 |