Intrinsic Valuation of: ETERNAL
Free Cash Flow Average and Growth over past 5Y Key Statistics
Year FCF FCF (FCF/Revenue)
2021 - - EPS (FY) 0 Market Cap ₹2,217B
2022 - - (-) P/E Ratio 618 Total Asset ₹407B
2023 ₹-9B - (-) Net Income ₹4B Total Debt ₹0
2024 ₹4B 145.5% (126.4%) EBITDA ₹26B Total Liab ₹98B
2025 ₹-6B -245.7% (-187.2%) Opr Margin -0.72 Debt/Equity -
2026 ₹-11B -78.2% (33.7%) PreTax Margin -1.44 BV/Share 27
5Y Average FCF ₹-6B 15.0% (-9.0%)
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): 7.00% Current US Bond Yield: 3.48%
Forcasting Future Free Cash Flow for next 6Y Modified Benjamin Graham's Intrinsic Value
Year FCF Projection (15.0%)
2027 ₹5B MBG Intrinsic Value ₹3
2028 ₹6B
2029 ₹6B
2030 ₹7B
2031 ₹7B
2032 ₹7B
Terminal Value ₹161B Net Worth/Share ₹34
DCF Valuation DCF Valuation "What If" Scenario Table
Enterprise Value ₹136B Growth Rate
(+) Cash & Cash Equivalents ₹10B ₹16 1.5% 2.0% 2.5% 3.0% 3.5%
(-) Total Debt ₹0 WACC 6.5% 15 16 18 20 22
Equity Value ₹146B 7.1% 13 14 16 17 19
Shares Outstanding 9,193,892,179 7.8% 12 13 14 15 16
8.4% 11 12 12 13 14
DCF Intrinsic Value ₹16 9.0% 10 11 11 12 13
Analyzed by QuantJuice (2025)