Intrinsic Valuation of: LT
Free Cash Flow Average and Growth over past 5Y Key Statistics
Year FCF FCF (FCF/Revenue)
2021 - - EPS (FY) 117 Market Cap ₹5,377B
2022 - - (-) P/E Ratio 33 Total Asset ₹4,525B
2023 ₹186B - (-) Net Income ₹161B Total Debt ₹637B
2024 ₹137B -26.2% (-38.8%) EBITDA ₹332B Total Liab ₹3,240B
2025 ₹47B -65.6% (-70.5%) Opr Margin 8.67 Debt/Equity 0.50
2026 ₹119B 152.1% (125.5%) PreTax Margin 7.67 BV/Share 718
5Y Average FCF ₹123B 15.0% (5.4%)
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 ₹138B MBG Intrinsic Value ₹1,046
2028 ₹156B
2029 ₹171B
2030 ₹184B
2031 ₹193B
2032 ₹198B
Terminal Value ₹4,489B Net Worth/Share ₹934
DCF Valuation DCF Valuation "What If" Scenario Table
Enterprise Value ₹3,806B Growth Rate
(+) Cash & Cash Equivalents ₹154B ₹2,415 1.5% 2.0% 2.5% 3.0% 3.5%
(-) Total Debt ₹637B WACC 6.5% 2,245 2,476 2,765 3,136 3,630
Equity Value ₹3,323B 7.1% 1,953 2,129 2,342 2,608 2,947
Shares Outstanding 1,375,668,171 7.8% 1,715 1,852 2,015 2,212 2,455
8.4% 1,521 1,630 1,757 1,908 2,090
DCF Intrinsic Value ₹2,415 9.0% 1,362 1,451 1,553 1,672 1,813
Analyzed by QuantJuice (2025)