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 | $6.2B | $6.8B | $8.4B | $10.2B | $11.7B |
| EBIT | $4.4B | $4.8B | $5.9B | $5.2B | $3.9B |
| Tax | $29M | $32M | $39M | $34M | $26M |
| NOPAT | $4.3B | $4.8B | $5.9B | $5.1B | $3.9B |
| + Depreciation | $1.0B | $1.1B | $1.4B | $1.7B | $1.9B |
| - Capex | $529M | $586M | $717M | $873M | $1.0B |
| - Δ NWC | -$4M | $9M | $24M | $20M | $7M |
| Free Cash Flow | $4.8B | $5.3B | $6.5B | $5.9B | $4.8B |
| Discount Factor | 0.924 | 0.788 | 0.673 | 0.574 | 0.452 |
| Present Value | $4.5B | $4.2B | $4.4B | $3.4B | $2.2B |
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% |
|---|
| 6.26% | $193.50 | $214.52 | $241.12 | $275.89 | $323.27 |
| 7.26% | $151.19 | $164.12 | $179.76 | $199.07 | $223.52 |
| 8.26% | $122.45 | $130.96 | $140.95 | $152.84 | $167.22 |
| 9.26% | $101.94 | $107.82 | $114.58 | $122.41 | $131.61 |
| 10.26% | $86.76 | $90.98 | $95.74 | $101.16 | $107.39 |
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 Growth-2.91%
Year 3 Revenue Growth6.28%
Year 5 Revenue Growth13.78%
Year 7 Revenue Growth9.27%
Year 10 Revenue Growth2.50%
Terminal Growth Rate2.50%
Margin & Efficiency
EBIT Margin70.85%
Tax Rate0.66%
Capex / Revenue8.57%
NWC / Revenue2.34%
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.