| Intrinsic Valuation of: ADI | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 5 | Market Cap | $204B | |||||
| 2021 | - | - (-) | P/E Ratio | 76 | Total Asset | $48B | |||||
| 2022 | $4B | - (-) | Net Income | $2B | Total Debt | $8B | |||||
| 2023 | $4B | -5.8% (-8.1%) | EBITDA | $5B | Total Liab | $14B | |||||
| 2024 | $3B | -12.2% (14.6%) | Opr Margin | 27.25 | Debt/Equity | 0.24 | |||||
| 2025 | $4B | 37.0% (17.2%) | PreTax Margin | 24.36 | BV/Share | -2 | |||||
| 5Y Average FCF | $4B | 2.5% (7.9%) | |||||||||
| 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): | 9.79% | Current US Bond Yield: | 3.48% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (2.5%) | ||||||||||
| 2026 | $4B | MBG Intrinsic Value | $49 | ||||||||
| 2027 | $4B | ||||||||||
| 2028 | $4B | ||||||||||
| 2029 | $5B | ||||||||||
| 2030 | $5B | ||||||||||
| 2031 | $5B | ||||||||||
| Terminal Value | $67B | Net Worth/Share | $69 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $57B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $2B | $106 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $8B | WACC | 7.8% | 131 | 140 | 151 | 164 | 180 | |||
| Equity Value | $52B | 8.8% | 111 | 117 | 125 | 134 | 144 | ||||
| Shares Outstanding | 488,204,157 | 9.8% | 96 | 101 | 106 | 112 | 119 | ||||
| 10.8% | 84 | 88 | 92 | 96 | 102 | ||||||
| DCF Intrinsic Value | $106 | 11.8% | 75 | 78 | 81 | 84 | 88 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||