Reverse DCF

	B	C	D	E	F	G	H	I	J	K	L	M
1
2
3
4	Amazon
5
6	Year	0	1	2	3	4	5	6	7	8	9	10
7	Cash flow	5,000	6,300	7,938	10,002	12,602	15,879	20,008	25,209	31,764	40,023	50,428
8	Discounted value	0	5,833	6,806	7,940	9,263	10,807	12,608	14,709	17,161	20,021	23,358
9
10											Terminal	939,803
11											Discounted	435,310
12	Inputs
13	Discount rate	8%
14	Starting free cash flow ($ million)	5,000
15	Forecast period growth	26.0%
16	Terminal growth	2.5%
17
18	Present value of forecast period	128,507
19	Present value of terminal period	435,310
20	Calculated Present Value ($ million)	563,817
21	Market Value (end 2020)	600,000
22
23	Upside / Downside	-6.03%
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100