← Back to DCF

Breakdown · 0700.HK

Tencent

WACC
FCF PROJECTION
SENSITIVITY
PER-YEAR CASH FLOWS
Year CF Discount factor PV Cumulative PV
1 23.02 0.9125 21.01 21.01
2 26.48 0.8326 22.05 43.06
3 30.45 0.7597 23.13 66.19
4 35.02 0.6933 24.28 90.47
5 40.27 0.6326 25.47 115.94
6 46.31 0.5772 26.73 142.67
7 53.26 0.5267 28.05 170.72
8 61.25 0.4806 29.44 200.16
9 70.43 0.4385 30.89 231.05
10 81.00 0.4002 32.41 263.46
11 83.02 0.3651 30.31 293.77
12 85.10 0.3332 28.35 322.13
13 87.23 0.3040 26.52 348.65
14 89.41 0.2774 24.80 373.45
15 91.64 0.2531 23.20 396.65
16 93.93 0.2310 21.70 418.34
17 96.28 0.2108 20.29 438.64
18 98.69 0.1923 18.98 457.62
19 101.16 0.1755 17.75 475.37
20 103.69 0.1601 16.60 491.97
REVERSE DCF

At $466.40, the market implies a stage-1 growth rate of 14.2%.

MARKET IMPLIES
14.2%
YOUR ASSUMPTION
15.0%
DELTA
-0.8pp

If $466.40 is correct and your other inputs (WACC 9.6%, 10+10y, terminal 2.5%) hold, the market needs 0700.HK to grow cash flow at 14.2% annually for the next 10 years.