Intrinsic Valuation of FB
	FB Free Cash Flow Average and Growth over past 5Y					Key Statistics
	Year		FCF	FCF Growth
	2021		$39,116,000,000	65.52%		EPS (FY)	13.77		Market Cap	496B
	2020		$23,632,000,000	11.41%		P/E Ratio	13.84		Total Asset	164B
	2019		$21,212,000,000	38.11%		Net Income	39B		Total Debt	14B
	2018		$15,359,000,000	-12.15%		EBITDA	52B		Total Liab	41B
	2017		$17,483,000,000	50.49%		Opr Margin	0.3668		Debt/Equity	0.12
	2016		$11,617,000,000			PreTax Margin	0.3734		BV/Share	45.56
	5Y Average FCF		$23,360,400,000	30.68%
						Overall Market Assumptions:
	Assumptions:					P/E for No-Growth Company:			7.00
	Perpetual Growth Rate (g):	2.50%				Historical US Bond Yield:			4.40%
	Discount Rete (WACC):	9.13%				Current US Bond Yield:			1.48%
	Forcasting Future Free Cash Flow for next 6Y					Modified Benjamin Graham's Intrinsic Value
	Year		FCF Projection
	2022		$51,115,531,843			MBG Intrinsic Value			$290.32
	2023		$66,796,134,462
	2024		$87,287,042,082
	2025		$114,063,901,704
	2026		$149,055,041,408
	2027		$194,780,338,365
	Terminal Value		$3,010,414,591,996			Net Worth/Share			$43.73
	DCF Valuation			DCF Valuation "What If" Scenario Table
	Enterprise Value	$2,094,998,715,805				Growth Rate
	(+) Cash & Cash Equivalents	$48,147,000,000			756.20	1.50%	2.00%	2.50%	3.00%	3.50%
	(-) Total Debt	$14,454,000,000		WACC	9.03%	686.0	724.9	769.7	822.0	883.8
	Equity Value	$2,128,691,715,805			9.08%	680.7	719.0	763.0	814.4	874.9
	Shares Outstanding	2815000000			9.13%	675.5	713.1	756.5	806.9	866.2
					9.63%	627.0	659.2	695.8	737.9	787.0
	DCF Intrinsic Value	$756.20			10.13%	584.4	612.1	643.3	679.0	720.0
Swarnadeep Seth (2022)