Dec'20 Actual | Dec'21 Actual | Dec'22 Actual | Dec'23 Actual | Dec'24 Actual | Dec'25 Estimate | Dec'26 Estimate | Dec'27 Estimate | Dec'28 Estimate | Dec'29 Estimate | Dec'30 Estimate | Dec'31 Estimate | Dec'32 Estimate | Dec'33 Estimate | Dec'34 Estimate | Dec'35 Terminal | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
% growth | 3,115.5 (34.9%) | 4,089.0 31.2% | 4,223.0 3.3% | 4,310.0 2.1% | 2,512.0 (41.7%) | 2,562.1 2.0% | 2,611.8 1.9% | 2,640.5 1.1% | 2,674.1 1.3% | 2,712.8 1.4% | 2,756.8 1.6% | 2,806.4 1.8% | 2,861.8 2.0% | 2,923.3 2.1% | 2,991.3 2.3% | 3,066.1 2.5% |
% margin | 200.2 6.4% | 902.0 22.1% | 603.0 14.3% | 1,001.0 23.2% | 686.0 27.3% | 424.3 16.6% | 432.5 16.6% | 437.2 16.6% | 442.8 16.6% | 449.2 16.6% | 456.5 16.6% | 464.7 16.6% | 473.9 16.6% | 484.1 16.6% | 495.3 16.6% | 507.7 16.6% |
NOPAT % effective tax rate | 206.7 6.6% | 434.8 10.6% | 402.0 9.5% | 488.6 11.3% | 356.8 14.2% | 220.7 8.6% | 225.0 8.6% | 227.4 8.6% | 230.3 8.6% | 233.7 8.6% | 237.5 8.6% | 241.7 8.6% | 246.5 8.6% | 251.8 8.6% | 257.6 8.6% | 264.1 8.6% |
% of revenue | 566.2 18.2% | 526.0 12.9% | 685.0 16.2% | 523.0 12.1% | 402.0 16.0% | 378.8 14.8% | 386.2 14.8% | 390.4 14.8% | 395.4 14.8% | 401.1 14.8% | 407.6 14.8% | 415.0 14.8% | 423.2 14.8% | 432.2 14.8% | 442.3 14.8% | 453.4 14.8% |
% of revenue | (254.7) (8.2%) | (238.0) (5.8%) | (317.0) (7.5%) | (399.0) (9.3%) | (149.0) (5.9%) | (193.8) (7.6%) | (197.6) (7.6%) | (199.8) (7.6%) | (202.3) (7.6%) | (205.2) (7.6%) | (208.6) (7.6%) | (212.3) (7.6%) | (216.5) (7.6%) | (221.2) (7.6%) | (226.3) (7.6%) | (232.0) (7.6%) |
% of revenue | 125.9 4.0% | (103.0) (2.5%) | (152.0) (3.6%) | (148.0) (3.4%) | 50.0 2.0% | (43.1) (1.7%) | (43.9) (1.7%) | (44.4) (1.7%) | (44.9) (1.7%) | (45.6) (1.7%) | (46.3) (1.7%) | (47.2) (1.7%) | (48.1) (1.7%) | (49.1) (1.7%) | (50.3) (1.7%) | (51.5) (1.7%) |
Free Cash Flow to Firm (FCFF) % of revenue | 644.1 20.7% | 619.8 15.2% | 618.0 14.6% | 464.6 10.8% | 659.8 26.3% | 362.6 14.2% | 369.7 14.2% | 373.7 14.2% | 378.5 14.2% | 384.0 14.2% | 390.2 14.2% | 397.2 14.2% | 405.0 14.2% | 413.7 14.2% | 423.4 14.2% | 434.0 14.2% |
% of FCFF used in calculation | ||||||||||||||||
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Discount factor | ||||||||||||||||
Discounted FCFF (DFCFF) |
Company name | Market Cap | Enterprise Value | Intrinsic Value | DCF Value | Relative value | Ben Graham Revised fair value | Peter Lynch fair value | Earnings Power Value (EPV),
% of EV | Market-Implied Value of Growth (MIVoG),
% of EV | Reverse DCF (implied FCF growth) | Reverse DCF (implied Revenue growth) |
$3,508.7M | $8,393.7M | $17.9 5.4% undervalued | N/A | $17.9 5.4% undervalued | Negative 404.2% overvalued | Negative 150.2% overvalued | N/A | N/A | 0.0% | 0.0% | |
$32.8B | $42.9B | $29.0 35.4% overvalued | N/A | $29.0 35.4% overvalued | $0.0 100.0% overvalued | $5.8 87.1% overvalued | 64.5% | 35.5% | 2.8% | 0.6% | |
$18.7B | $19.2B | $23.7 38.7% overvalued | N/A | $23.7 38.7% overvalued | $129.0 233.6% undervalued | N/A | (26.4%) | 126.4% | 19.6% | 29.8% | |
$9,366.8M | $19.1B | $94.4 8.0% undervalued | N/A | $94.4 8.0% undervalued | $72.8 16.6% overvalued | $47.6 45.6% overvalued | 126.0% | (26.0%) | (21.3%) | (20.2%) | |
$9,322.1M | $32.9B | $39.9 27.5% undervalued | $28.7 8.0% overvalued | $51.1 63.2% undervalued | $2.8 91.2% overvalued | $21.5 31.2% overvalued | 127.3% | (27.3%) | (28.2%) | (29.3%) | |
$9,085.6M | $8,967.6M | $91.4 10.4% overvalued | N/A | $91.4 10.4% overvalued | $16.5 83.9% overvalued | $36.6 64.1% overvalued | 62.8% | 37.2% | 7.6% | 5.8% | |
$7,934.6M | $12.7B | $66.2 39.1% overvalued | $56.9 48.0% overvalued | $75.4 30.6% overvalued | $98.6 9.3% overvalued | $75.7 30.3% overvalued | 58.2% | 41.8% | 7.9% | 14.5% | |
$6,190.5M | $9,805.0M | $101.0 51.3% undervalued | $107.4 61.0% undervalued | $94.6 41.8% undervalued | $71.8 7.6% undervalued | $54.7 18.1% overvalued | 93.5% | 6.5% | (5.1%) | (4.7%) | |
$6,163.6M | $6,490.1M | $154.3 6.7% overvalued | $121.4 27.0% overvalued | $187.2 13.2% undervalued | $195.0 17.9% undervalued | $150.9 8.8% overvalued | 66.6% | 33.4% | 3.3% | 4.5% | |
$5,905.0M | $30.1B | $129.4 364.9% undervalued | $225.7 711.0% undervalued | $33.2 19.3% undervalued | $187.5 573.6% undervalued | N/A | 467.3% | (367.3%) | (100.0%) | (100.0%) | |
$3,660.2M | $3,432.2M | $48.9 36.1% undervalued | $19.1 47.0% overvalued | $78.7 119.1% undervalued | $981.2 2,632.5% undervalued | $337.5 839.8% undervalued | 33.1% | 66.9% | 27.1% | 15.9% |