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 | $4.9B | $5.9B | $7.2B | $8.3B |
| Tax | $221M | $243M | $297M | $362M | $416M |
| NOPAT | $4.2B | $4.6B | $5.6B | $6.9B | $7.9B |
| + Depreciation | $1.0B | $1.1B | $1.4B | $1.7B | $1.9B |
| - Capex | $710M | $647M | $624M | $558M | $293M |
| - Δ NWC | -$15M | $40M | $101M | $86M | $29M |
| Free Cash Flow | $4.5B | $5.1B | $6.3B | $7.9B | $9.5B |
| Discount Factor | 0.923 | 0.787 | 0.670 | 0.571 | 0.450 |
| Present Value | $4.2B | $4.0B | $4.2B | $4.5B | $4.3B |
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% |
|---|
| 6.32% | $411.83 | $431.98 | $457.40 | $490.46 | $535.25 |
| 7.32% | $346.66 | $359.12 | $374.16 | $392.68 | $416.04 |
| 8.32% | $296.67 | $304.90 | $314.55 | $326.01 | $339.85 |
| 9.32% | $256.57 | $262.28 | $268.82 | $276.40 | $285.28 |
| 10.32% | $223.39 | $227.49 | $232.12 | $237.38 | $243.41 |
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-2.43%
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
Current EBIT Margin71.05%
Tax Rate5.00%
Historical Capex / Rev11.44%
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.