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Breakdown · GOOGL

Alphabet Class A

WACC
FCF PROJECTION
SENSITIVITY
PER-YEAR CASH FLOWS
Year CF Discount factor PV Cumulative PV
1 12.59 0.8949 11.26 11.26
2 13.45 0.8009 10.77 22.04
3 14.38 0.7167 10.31 32.34
4 15.37 0.6414 9.86 42.20
5 16.42 0.5740 9.43 51.63
6 17.55 0.5137 9.02 60.65
7 18.76 0.4597 8.63 69.27
8 20.05 0.4114 8.25 77.52
9 21.43 0.3682 7.89 85.42
10 22.91 0.3295 7.55 92.96
11 23.48 0.2949 6.92 99.89
12 24.07 0.2639 6.35 106.24
13 24.67 0.2362 5.83 112.06
14 25.28 0.2114 5.34 117.41
15 25.92 0.1892 4.90 122.31
16 26.56 0.1693 4.50 126.81
17 27.23 0.1515 4.13 130.93
18 27.91 0.1356 3.78 134.72
19 28.61 0.1213 3.47 138.19
20 29.32 0.1086 3.18 141.37
REVERSE DCF

At $368.53, the market implies a stage-1 growth rate of 21.6%.

MARKET IMPLIES
21.6%
YOUR ASSUMPTION
6.9%
DELTA
+14.7pp

If $368.53 is correct and your other inputs (WACC 11.7%, 10+10y, terminal 2.5%) hold, the market needs GOOGL to grow cash flow at 21.6% annually for the next 10 years.