| Intrinsic Valuation of: PNB | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2021 | - | - | EPS (FY) | 16 | Market Cap | ₹1,173B | |||||
| 2022 | - | - (-) | P/E Ratio | 6 | Total Asset | ₹20,333B | |||||
| 2023 | ₹220B | - (-) | Net Income | ₹184B | Total Debt | ₹0 | |||||
| 2024 | ₹-291B | -232.1% (-212.6%) | EBITDA | - | Total Liab | ₹18,827B | |||||
| 2025 | ₹205B | 170.3% (165.0%) | Opr Margin | - | Debt/Equity | - | |||||
| 2026 | ₹240B | 17.3% (14.1%) | PreTax Margin | - | BV/Share | 130 | |||||
| 5Y Average FCF | ₹94B | 3.5% (-11.2%) | |||||||||
| 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 (3.5%) | ||||||||||
| 2027 | ₹243B | MBG Intrinsic Value | ₹143 | ||||||||
| 2028 | ₹251B | ||||||||||
| 2029 | ₹258B | ||||||||||
| 2030 | ₹266B | ||||||||||
| 2031 | ₹273B | ||||||||||
| 2032 | ₹280B | ||||||||||
| Terminal Value | ₹6,344B | Net Worth/Share | ₹131 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | ₹5,468B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | ₹1,641B | ₹619 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | ₹0 | WACC | 6.5% | 590 | 629 | 678 | 741 | 824 | |||
| Equity Value | ₹7,109B | 7.1% | 540 | 570 | 606 | 651 | 708 | ||||
| Shares Outstanding | 11,492,943,268 | 7.8% | 500 | 523 | 551 | 584 | 625 | ||||
| 8.4% | 467 | 486 | 507 | 533 | 563 | ||||||
| DCF Intrinsic Value | ₹619 | 9.0% | 440 | 455 | 472 | 493 | 516 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||