Discounted Cash Flow

Meta Platforms, Inc.

META · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $27.6b $10.2b $11.6b 37.0% $3.56
2017 $40.7b (47.1%) $15.9b (56.0%) $17.5b (50.5%) 39.2% (6.0%) $5.49 (54.2%)
2018 $55.8b (37.4%) $22.1b (38.8%) $15.4b (-12.1%) 39.6% (1.0%) $7.65 (39.3%)
2019 $70.7b (26.6%) $18.5b (-16.4%) $21.2b (38.1%) 26.1% (-34.0%) $6.48 (-15.3%)
2020 $86.0b (21.6%) $29.1b (57.7%) $23.6b (11.4%) 33.9% (29.7%) $10.22 (57.7%)
2021 $117.9b (37.2%) $39.4b (35.1%) $39.1b (65.5%) 33.4% (-1.5%) $13.99 (36.9%)
2022 $116.6b (-1.1%) $23.2b (-41.1%) $19.0b (-51.3%) 19.9% (-40.4%) $8.63 (-38.3%)
2023 $134.9b (15.7%) $39.1b (68.5%) $43.8b (130.2%) 29.0% (45.7%) $15.19 (76.0%)
2024 $164.5b (21.9%) $62.4b (59.5%) $54.1b (23.3%) 37.9% (30.8%) $24.61 (62.0%)
2025 $201.0b (22.2%) $60.5b (-3.1%) $46.1b (-14.7%) 30.1% (-20.6%) $23.98 (-2.6%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Values abbreviated: b = billions, m = millions, k = thousands.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model