| Intrinsic Valuation of: TCS | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2021 | - | - | EPS (FY) | 136 | Market Cap | ₹8,191B | |||||
| 2022 | - | - (-) | P/E Ratio | 17 | Total Asset | ₹1,824B | |||||
| 2023 | ₹389B | - (-) | Net Income | ₹492B | Total Debt | ₹0 | |||||
| 2024 | ₹417B | 7.2% (0.3%) | EBITDA | ₹723B | Total Liab | ₹739B | |||||
| 2025 | ₹450B | 7.9% (1.8%) | Opr Margin | 25.03 | Debt/Equity | - | |||||
| 2026 | ₹479B | 6.5% (1.9%) | PreTax Margin | 24.57 | BV/Share | 271 | |||||
| 5Y Average FCF | ₹434B | 6.4% (1.3%) | |||||||||
| 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 (6.4%) | ||||||||||
| 2027 | ₹495B | MBG Intrinsic Value | ₹1,216 | ||||||||
| 2028 | ₹523B | ||||||||||
| 2029 | ₹548B | ||||||||||
| 2030 | ₹570B | ||||||||||
| 2031 | ₹589B | ||||||||||
| 2032 | ₹603B | ||||||||||
| Terminal Value | ₹13,677B | Net Worth/Share | ₹300 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | ₹11,736B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | ₹64B | ₹3,262 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | ₹0 | WACC | 6.5% | 3,064 | 3,332 | 3,667 | 4,097 | 4,670 | |||
| Equity Value | ₹11,801B | 7.1% | 2,725 | 2,929 | 3,177 | 3,485 | 3,877 | ||||
| Shares Outstanding | 3,618,087,518 | 7.8% | 2,450 | 2,609 | 2,797 | 3,026 | 3,307 | ||||
| 8.4% | 2,225 | 2,351 | 2,499 | 2,674 | 2,884 | ||||||
| DCF Intrinsic Value | ₹3,262 | 9.0% | 2,040 | 2,143 | 2,261 | 2,399 | 2,562 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||