INTC (Intel) 5.3.2012
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Intel (INTC)
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Historical FCF Growth (Standard Calculation):  Cash from Operations minus Capital ExpendituresHistorical FCF Growth, Recent Only (Still Stanard Calcultion)Joel Greenblatt Growth Co. Method (Cash from Operations - the lesser of depreciation or CapEx)
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Ending FCF Value (12/2011) (Billions)10.19912/2011 (Billions)10.19912/2011 (Billions)14.91912/2011 (Billions)14.919
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Beginning FCF Value (12/2002) (Billions)4.42612/2007 (Billions)7.62512/2002 (Billions)4.42612/2007 (Billions)7.827
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Compound Annual Growth Rate (CAGR) (%)9.72%(CAGR %)7.54%(CAGR %)7.43%17.50%
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Two Stage Discounted Free Cash Flow SpreadsheetYear 1 FCFYear 2Year 3Year 4Year 5Year 6Year 7Year 8Year 9Year 10
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%
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FCF & % Growth (Billions)0.081212.9613.996815.11654416.3258675217.6319369219.0424918820.5658912322.2111625223.98805553
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Discount Factor10.111.111.23211.3676311.518070411.6850581551.8704145522.0761601532.304537772.5580369242.839420986
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Discounted (FCF) to Present Value10.8108108110.5186267310.234339539.9577357559.6886077619.4267534989.1719763768.9240851238.6828936338.448220832
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Sum 10 Year DFCF (Billions)95.86405005
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Post-10 Year Perpetuity DFCF Value (2% Growth)0.02271.8646293
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Discounted to Present Value (Billions)2.83942098695.74650276
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Present Intrinsic Value all FCF (BILLIONS)191.6105528
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Shares Outstanding (BILLIONS) (diluted)5.411
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Present Intrinsic Value Per Share (DCF ONLY)35.41130157
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PLUS CASH/CASH EQUIV. ON HAND (35% tax disc.) (billions)0
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MINUS SHORT AND LONG TERM DEBT (BILLIONS)0
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NET CASH (BILLIONS)0Note: D34 is auto-updating. The price of Intel as of the date of creation of this sheet was $27.90/share.
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Value of Cash on Hand, Per Share0
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TOTAL INTRINSIC VALUE PER SHARE$35.4113
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Present Actual Share Price (April 18, 2012)$33.71
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Amount Undervalued (Percent)4.80%
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Buy Price$28.33
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Sell Price$42.49
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Legend:
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Calculation for Years 1-10 = Future CF Value/((1+i)^N);
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Calculation for Perpetuity Growth After That: (CFn*(1+g))/(R-g)
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where: CFn = Cash Flow in the Last Individual Year Estimated; g= Long-Term Growth Rate; R= Discount Rate, or Cost of Capital, or Cost of Equity
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Discount Perpetuity Growth to Present Value Using: Present Value of Cash Flow in Year N = CF at Year N / (1 + R)^N
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