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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 12.55 0.8934 11.21 11.21
2 13.41 0.7982 10.71 21.92
3 14.33 0.7132 10.22 32.14
4 15.32 0.6372 9.76 41.90
5 16.37 0.5693 9.32 51.22
6 17.50 0.5086 8.90 60.12
7 18.70 0.4544 8.50 68.62
8 19.99 0.4060 8.12 76.74
9 21.37 0.3627 7.75 84.49
10 22.84 0.3241 7.40 91.89
11 23.41 0.2896 6.78 98.67
12 23.99 0.2587 6.21 104.88
13 24.59 0.2311 5.68 110.56
14 25.21 0.2065 5.21 115.76
15 25.84 0.1845 4.77 120.53
16 26.48 0.1648 4.37 124.90
17 27.14 0.1473 4.00 128.89
18 27.82 0.1316 3.66 132.56
19 28.52 0.1176 3.35 135.91
20 29.23 0.1050 3.07 138.98
REVERSE DCF

At $336.71, the market implies a stage-1 growth rate of 20.5%.

MARKET IMPLIES
20.5%
YOUR ASSUMPTION
6.9%
DELTA
+13.6pp

If $336.71 is correct and your other inputs (WACC 11.9%, 10+10y, terminal 2.5%) hold, the market needs GOOGL to grow cash flow at 20.5% annually for the next 10 years.