| Intrinsic Valuation of: PAYTM | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | -10 | Market Cap | ₹594B | |||||
| 2021 | - | - (-) | P/E Ratio | - | Total Asset | ₹214B | |||||
| 2022 | ₹-17B | - (-) | Net Income | ₹-7B | Total Debt | ₹0 | |||||
| 2023 | ₹-3B | 83.4% (89.6%) | EBITDA | ₹438M | Total Liab | ₹65B | |||||
| 2024 | ₹-2B | 41.0% (53.3%) | Opr Margin | -0.32 | Debt/Equity | - | |||||
| 2025 | ₹-4B | -159.3% (-275.0%) | PreTax Margin | -31.82 | BV/Share | 235 | |||||
| 5Y Average FCF | ₹-7B | -11.7% (-44.0%) | |||||||||
| Overall Market Assumptions: | |||||||||||
| Assumptions: | P/E for No-Growth Company: | 7.0 | |||||||||
| Perpetual Growth Rate (g): | 2.5% | Historical US Bond Yield: | 4.4% | ||||||||
| Discount Rate (WACC): | 7.4% | Current US Bond Yield: | 3.5% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (4.0%) | ||||||||||
| 2026 | ₹-7B | MBG Intrinsic Value | ₹-92 | ||||||||
| 2027 | ₹-7B | ||||||||||
| 2028 | ₹-7B | ||||||||||
| 2029 | ₹-8B | ||||||||||
| 2030 | ₹-8B | ||||||||||
| 2031 | ₹-8B | ||||||||||
| Terminal Value | ₹-174B | Net Worth/Share | ₹235 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | ₹-149B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | ₹21B | ₹-201 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | ₹0 | WACC | 7.3% | -173 | -188 | -205 | -227 | -255 | |||
| Equity Value | ₹-128B | 7.4% | -171 | -185 | -203 | -224 | -252 | ||||
| Shares Outstanding | 638,102,976 | 7.4% | -169 | -183 | -201 | -222 | -248 | ||||
| 7.9% | -153 | -165 | -179 | -196 | -216 | ||||||
| DCF Intrinsic Value | ₹-201 | 8.4% | -140 | -149 | -161 | -175 | -191 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||