Building out a DCF for Microsoft but need 4 year estimates for the Income Statement, but could only find 2023 estimates on bloomberg terminal at my workplace and still need 2024 and 2025. What are some reliable sources to find estimates?
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Check the CapIQ consensus estimates if you don't find anything on BBG.
It depends on the industry and business you're modelling, but for FY24+ period, if you can't find anything, you can use industry data reports as support for your assumptions (i.e., pricing growth correlated to xyz industry data as a supporting tab within your excel).
Moody’s/S&P reports
We would hand spread the median of broker projections to get 2-5 years out. You can also read earnings call transcripts and management discussion and analysis from the latest 10K to inform growth projections. It’s an art and a science because nobody can predict the future. But you can make reasonable assumptions based on a couple likely initiatives.
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