| Intrinsic Valuation of: PNB | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 16 | Market Cap | ₹1,300B | |||||
| 2021 | - | - (-) | P/E Ratio | 7 | Total Asset | ₹18,575B | |||||
| 2022 | ₹195B | - (-) | Net Income | ₹185B | Total Debt | ₹0 | |||||
| 2023 | ₹220B | 13.0% (-1.2%) | EBITDA | - | Total Liab | ₹17,238B | |||||
| 2024 | ₹-291B | -232.1% (-215.5%) | Opr Margin | - | Debt/Equity | - | |||||
| 2025 | ₹205B | 170.3% (163.4%) | PreTax Margin | - | BV/Share | 116 | |||||
| 5Y Average FCF | ₹82B | -16.2% (-17.8%) | |||||||||
| 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 | ₹213B | MBG Intrinsic Value | ₹147 | ||||||||
| 2027 | ₹221B | ||||||||||
| 2028 | ₹230B | ||||||||||
| 2029 | ₹240B | ||||||||||
| 2030 | ₹249B | ||||||||||
| 2031 | ₹259B | ||||||||||
| Terminal Value | ₹5,386B | Net Worth/Share | ₹116 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | ₹4,602B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | ₹1,508B | ₹532 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | ₹0 | WACC | 7.3% | 484 | 509 | 540 | 578 | 625 | |||
| Equity Value | ₹6,110B | 7.4% | 481 | 506 | 536 | 573 | 619 | ||||
| Shares Outstanding | 11,492,899,840 | 7.4% | 478 | 502 | 532 | 568 | 613 | ||||
| 7.9% | 450 | 471 | 494 | 523 | 558 | ||||||
| DCF Intrinsic Value | ₹532 | 8.4% | 427 | 444 | 464 | 487 | 515 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||