DCF MSFT.xlsx

	B	C	E	F	G
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3	Inputs		Calculation
4	Growth Rate (yrs 1 -5)	15,0%	Year	FCF	PV
5	Growth rate (yrs 6 - 10)	15,0%	1	67	61
6	Discount Rate	10%	2	77	64
7	Perpetuity growth rate	2,0%	3	89	67
8	Year 1 Free Cash Flow (billions)	67	4	102	70
9	Stock Ticker	MSFT	5	117	73
10			6	135	76
11			7	155	80
12			8	178	83
13			9	205	87
14			10	236	91
15			10	3005	1.159
16	Intrinsic Value (Enterprise Value)				1.909
17	Current Entreprise Value				3.000
18				Cash	%
19		CASH FLOWS		$ 750	39%
20		TERMINAL VALUE		$ 1.159	61%
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