Your boss has asked you to estimate the intrinsic value of the equity for Google, which does

Question:

Your boss has asked you to estimate the intrinsic value of the equity for Google, which does not currently pay any dividends. You are going to use an income approach and are trying to choose between the to equity (FCFE) approach and the discount model (DDM) approach. Which would be more appropriate in this instance? Why? What concerns would you have in applying either of these valuation approaches to a company such as this?

Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their... Free Cash Flow
Free cash flow (FCF) represents the cash a company generates after accounting for cash outflows to support operations and maintain its capital assets. Unlike earnings or net income, free cash flow is a measure of profitability that excludes the...