| Intrinsic Valuation of: BHEL | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2021 | - | - | EPS (FY) | 5 | Market Cap | ₹1,387B | |||||
| 2022 | - | - (-) | P/E Ratio | 87 | Total Asset | ₹762B | |||||
| 2023 | ₹-9B | - (-) | Net Income | ₹16B | Total Debt | ₹0 | |||||
| 2024 | ₹-39B | -324.6% (-310.1%) | EBITDA | ₹32B | Total Liab | ₹500B | |||||
| 2025 | ₹19B | 147.9% (138.7%) | Opr Margin | 6.00 | Debt/Equity | - | |||||
| 2026 | ₹52B | 178.0% (133.2%) | PreTax Margin | 3.76 | BV/Share | 75 | |||||
| 5Y Average FCF | ₹6B | 9.4% (-12.7%) | |||||||||
| Overall Market Assumptions: | |||||||||||
| Assumptions: | P/E for No-Growth Company: | 7.0 | |||||||||
| Perpetual Growth Rate (g): | 2.48% | Historical US Bond Yield: | 4.40% | ||||||||
| Discount Rate (WACC): | 8.21% | Current US Bond Yield: | 3.48% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (9.4%) | ||||||||||
| 2027 | ₹52B | MBG Intrinsic Value | ₹41 | ||||||||
| 2028 | ₹56B | ||||||||||
| 2029 | ₹60B | ||||||||||
| 2030 | ₹63B | ||||||||||
| 2031 | ₹65B | ||||||||||
| 2032 | ₹67B | ||||||||||
| Terminal Value | ₹1,199B | Net Worth/Share | ₹75 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | ₹1,022B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | ₹14B | ₹298 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | ₹0 | WACC | 6.5% | 354 | 385 | 424 | 474 | 540 | |||
| Equity Value | ₹1,036B | 7.4% | 299 | 319 | 344 | 375 | 413 | ||||
| Shares Outstanding | 3,482,063,355 | 8.4% | 258 | 273 | 290 | 310 | 335 | ||||
| 9.3% | 228 | 238 | 251 | 265 | 282 | ||||||
| DCF Intrinsic Value | ₹298 | 10.2% | 203 | 211 | 221 | 231 | 243 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||