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 | $5.0B | $5.5B | $6.5B | $7.2B | $7.9B |
| EBIT | $3.0B | $3.4B | $4.0B | $3.2B | $2.4B |
| Tax | $12M | $14M | $16M | $13M | $10M |
| NOPAT | $3.0B | $3.4B | $4.0B | $3.2B | $2.4B |
| + Depreciation | $998M | $1.1B | $1.3B | $1.4B | $1.6B |
| - Capex | $331M | $368M | $436M | $481M | $529M |
| - Δ NWC | $9M | $23M | $25M | $22M | $13M |
| Free Cash Flow | $3.7B | $4.1B | $4.8B | $4.2B | $3.4B |
| Discount Factor | 0.927 | 0.798 | 0.686 | 0.590 | 0.471 |
| Present Value | $3.4B | $3.3B | $3.3B | $2.4B | $1.6B |
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% |
|---|
| 5.83% | $360.95 | $396.44 | $442.59 | $505.08 | $594.42 |
| 6.83% | $293.06 | $314.05 | $339.91 | $372.51 | $414.92 |
| 7.83% | $248.19 | $261.65 | $277.65 | $296.96 | $320.73 |
| 8.83% | $216.78 | $225.91 | $236.49 | $248.88 | $263.60 |
| 9.83% | $193.86 | $200.32 | $207.65 | $216.07 | $225.81 |
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 Growth2.84%
Year 3 Revenue Growth6.50%
Year 5 Revenue Growth6.07%
Year 7 Revenue Growth4.64%
Year 10 Revenue Growth2.50%
Terminal Growth Rate2.50%
Margin & Efficiency
EBIT Margin61.44%
Tax Rate0.40%
Capex / Revenue6.68%
NWC / Revenue6.74%
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: 18x EV/EBITDA (S&P 500: 22x P/E)
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.