10-Year Free Cash Flow Projections(showing years 1, 3, 5, 7, 10)
| Year | Year 1 | Year 3 | Year 5 | Year 7 | Year 10 |
|---|
| Revenue | $7.7B | $9.0B | $9.8B | $9.9B | $10.5B |
| EBIT | $1.4B | $1.7B | $1.8B | $2.2B | $2.8B |
| Tax | $397M | $464M | $505M | $626M | $770M |
| NOPAT | $1.0B | $1.2B | $1.3B | $1.6B | $2.0B |
| + Depreciation | $948M | $1.1B | $1.2B | $1.2B | $1.3B |
| - Capex | $1.6B | $1.5B | $1.2B | $836M | $263M |
| - Δ NWC | $84M | $61M | -$3M | $8M | $26M |
| Free Cash Flow | $325M | $773M | $1.3B | $2.0B | $3.0B |
| Discount Factor | 0.935 | 0.818 | 0.716 | 0.626 | 0.512 |
| Present Value | $304M | $632M | $929M | $1.2B | $1.5B |
FCF Formula: Free Cash Flow = NOPAT + Depreciation - Capex - Change in Net Working Capital
Sensitivity AnalysisPrice per Share
| WACC ↓ / Growth → | 1.50% | 2.00% | 2.50% | 3.00% | 3.50% |
|---|
| 4.92% | $159.92 | $176.35 | $199.57 | $226.20 | $214.03 |
| 5.92% | $121.63 | $130.32 | $141.56 | $156.65 | $177.96 |
| 6.92% | $95.02 | $100.21 | $106.58 | $114.57 | $124.90 |
| 7.92% | $74.97 | $78.32 | $82.29 | $87.06 | $92.92 |
| 8.92% | $59.05 | $61.33 | $63.97 | $67.06 | $70.71 |
How to read: This table shows how the valuation changes with different WACC (discount rate) and terminal growth rate assumptions. Green = undervalued, Red = overvalued.
Key Assumptions & Drivers✓ Using Analyst Consensus Estimates• Real Estate Sector
Growth Assumptions (Select Years)
Year 1 Revenue Growth12.14%
Year 3 Revenue Growth7.19%
Year 5 Revenue Growth-0.34%
Year 7 Revenue Growth0.79%
Year 10 Revenue Growth2.50%
Terminal Growth Rate2.50%
Margin & Efficiency
Current EBIT Margin18.39%
Terminal EBIT Margin30.00%
Tax Rate27.91%
Historical Capex / Rev20.22%
Terminal Capex / Rev2.50%
NWC / Revenue10.00%
Key Drivers: Revenue growth, operating margin expansion, capex efficiency, and working capital management are the primary drivers of cash flow generation. Terminal value assumptions significantly impact final valuation.
Institutional-Grade Methodology
Actual Company Data: Revenue, EBIT, Capex, NWC, Tax Rate, Interest Expense, Beta
Market Assumptions: Risk-free: 4.5% (10Y), MRP: 4.5% (Damodaran 2026), Exit: 22x EV/EBITDA (Real Estate sector)
This DCF model is for informational purposes only. Projections are based on assumptions that may not materialize. Past performance does not guarantee future results. Consult a financial advisor before making investment decisions.