Looks like there`s been an error while trying to load this page.
Our team has been notified but please contact us using the email support widget if the problem persists.
Metrics | Range | Conclusion |
---|---|---|
Discount Rate | 12.0% - 11.0% | 11.5% |
Perpetuity Growth Rate | 4.5% - 5.5% | 5.0% |
Fair Value | $135.02 - $179.69 | $153.92 |
Upside | -12.7% - 16.1% | -0.5% |
Select Revenue and EBITDA Forecast | |||||||
(USD in millions) | Input Projections | ||||||
Fiscal Years Ending | Dec-24 | Dec-25 | Dec-26 | Dec-27 | Dec-28 | Dec-29 | |
Revenue | 25,785 | 31,730 | 37,560 | 44,103 | 51,297 | 58,375 | |
% Growth | 13.7% | 23.1% | 18.4% | 17.4% | 16.3% | 13.8% | |
EBITDA | 5,150 | 6,576 | 9,854 | 12,670 | 16,471 | 19,173 | |
% of Revenue | 20.0% | 20.7% | 26.2% | 28.7% | 32.1% | 32.8% |
Calculation of Free Cash Flow | |||||||
Projected Unlevered Cash Flow | |||||||
(USD in millions) | Dec-25 | Dec-26 | Dec-27 | Dec-28 | Dec-29 | Terminal | |
EBITDA | 6,576 | 9,854 | 12,670 | 16,471 | 19,173 | 19,173 | |
Other Income / (Exp) | 5,092 | 5,961 | 6,705 | 0 | 6,305 | 6,305 | |
D&A | (4,496) | (5,322) | (6,249) | (4,814) | (5,478) | (1,140) | |
EBIT | 7,172 | 10,493 | 13,126 | 11,657 | 20,000 | 24,338 | |
Pro forma Taxes | (1,148) | (1,679) | (2,100) | (1,865) | (3,200) | (3,894) | |
NOPAT | 1,752 | 6,025 | 8,814 | 11,026 | 9,792 | 16,800 | 20,444 |
Capital Expenditures | (636) | (820) | (884) | (808) | (1,100) | (1,200) | (1,200) |
NWC Investment | (825) | (1,580) | (1,549) | (1,739) | (1,912) | (1,881) | (776) |
(+) D&A | 3,064 | 4,496 | 5,322 | 6,249 | 4,814 | 5,478 | 1,140 |
Free Cash Flow | 3,355 | 8,121 | 11,703 | 14,728 | 11,594 | 19,197 | 19,608 |
% Growth | 142% | 44% | 26% | -21% | 66% | 2% |