Discounted Cash Flow (DCF) Analysis Levered
Meta Platforms, Inc. (META)
$160.68
-8.81 (-5.20%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 40,653 | 55,838 | 70,697 | 85,965 | 117,929 | 154,116.28 | 201,407.86 | 263,211.16 | 343,979.21 | 449,531.46 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 24,216 | 29,274 | 36,314 | 38,747 | 57,683 | 79,322.49 | 103,663.11 | 135,472.80 | 177,043.51 | 231,370.46 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -6,733 | -13,915 | -15,102 | -15,115 | -18,567 | -29,643.02 | -38,739.18 | -50,626.55 | -66,161.63 | -86,463.75 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 17,483 | 15,359 | 21,212 | 23,632 | 39,116 | 49,679.46 | 64,923.93 | 84,846.26 | 110,881.88 | 144,906.70 |
Weighted Average Cost Of Capital
| Share price | $ 160.68 |
|---|---|
| Beta | 1.376 |
| Diluted Shares Outstanding | 2,859 |
| Cost of Debt | |
| Tax Rate | 16.74 |
| After-tax Cost of Debt | 2.76% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 9.701 |
| Total Debt | 13,873 |
| Total Equity | 459,384.12 |
| Total Capital | 473,257.12 |
| Debt Weighting | 2.93 |
| Equity Weighting | 97.07 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2017 Actual | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Projected | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected |
| Revenue | 40,653 | 55,838 | 70,697 | 85,965 | 117,929 | 154,116.28 | 201,407.86 | 263,211.16 | 343,979.21 | 449,531.46 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 24,216 | 29,274 | 36,314 | 38,747 | 57,683 | 79,322.49 | 103,663.11 | 135,472.80 | 177,043.51 | 231,370.46 |
| Capital Expenditure | -6,733 | -13,915 | -15,102 | -15,115 | -18,567 | -29,643.02 | -38,739.18 | -50,626.55 | -66,161.63 | -86,463.75 |
| Free Cash Flow | 17,483 | 15,359 | 21,212 | 23,632 | 39,116 | 49,679.46 | 64,923.93 | 84,846.26 | 110,881.88 | 144,906.70 |
| WACC | ||||||||||
| PV LFCF | 45,369.37 | 54,147.27 | 64,623.48 | 77,126.59 | 92,048.75 | |||||
| SUM PV LFCF | 333,315.45 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 9.50 |
| Free cash flow (t + 1) | 147,804.84 |
| Terminal Value | 1,970,731.19 |
| Present Value of Terminal Value | 1,251,862.97 |
Intrinsic Value
| Enterprise Value | 1,585,178.42 |
|---|---|
| Net Debt | -2,728 |
| Equity Value | 1,587,906.42 |
| Shares Outstanding | 2,859 |
| Equity Value Per Share | 555.41 |