Looks like there`s been an error while trying to load this page.
Our team has been notified but please contact us using the email support widget if the problem persists.
| Metrics | Range | Conclusion |
|---|---|---|
| Discount Rate | 9.3% - 8.3% | 8.8% |
| Terminal EBITDA Multiple | 3.6x - 5.6x | 4.6x |
| Fair Value | $185.02 - $248.47 | $216.13 |
| Upside | 3.7% - 39.3% | 21.2% |
| Select Revenue and EBITDA Forecast | ||||||
| (USD in millions) | Input Projections | |||||
| Fiscal Years Ending | Dec-24 | Dec-25 | Dec-26 | Dec-27 | Dec-28 | Dec-29 |
| Revenue | 4,206 | 5,060 | 6,269 | 6,836 | 7,076 | 7,159 |
| % Growth | 26.7% | 20.3% | 23.9% | 9.0% | 3.5% | 1.2% |
| EBITDA | 1,817 | 2,216 | 3,188 | 3,775 | 4,404 | 4,374 |
| % of Revenue | 43.2% | 43.8% | 50.8% | 55.2% | 62.2% | 61.1% |
| Calculation of Free Cash Flow | ||||||
| Projected Unlevered Cash Flow | ||||||
| (USD in millions) | Dec-25 | Dec-26 | Dec-27 | Dec-28 | Dec-29 | |
| EBITDA | 2,216 | 3,188 | 3,775 | 4,404 | 4,374 | |
| Other Income / (Exp) | 0 | 0 | 0 | 0 | 0 | |
| D&A | (511) | (638) | (697) | (830) | (607) | |
| EBIT | 1,705 | 2,550 | 3,077 | 3,574 | 3,767 | |
| Pro forma Taxes | (188) | (280) | (339) | (393) | (414) | |
| NOPAT | 1,240 | 1,517 | 2,269 | 2,739 | 3,181 | 3,353 |
| Capital Expenditures | (1,526) | (1,250) | (1,000) | (800) | (587) | (505) |
| NWC Investment | (248) | (239) | (338) | (159) | (67) | (23) |
| (+) D&A | 423 | 511 | 638 | 697 | 830 | 607 |
| Free Cash Flow | (111) | 539 | 1,569 | 2,478 | 3,357 | 3,432 |
| % Growth | NM | 191% | 58% | 35% | 2% | |