| Intrinsic Valuation of: AMAT | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 11 | Market Cap | $347B | |||||
| 2021 | - | - (-) | P/E Ratio | 41 | Total Asset | $36B | |||||
| 2022 | $5B | - (-) | Net Income | $7B | Total Debt | $6B | |||||
| 2023 | $8B | 64.7% (60.1%) | EBITDA | $10B | Total Liab | $16B | |||||
| 2024 | $7B | -1.4% (-3.8%) | Opr Margin | 29.86 | Debt/Equity | 0.32 | |||||
| 2025 | $6B | -23.9% (-27.1%) | PreTax Margin | 28.91 | BV/Share | 21 | |||||
| 5Y Average FCF | $6B | 7.2% (9.7%) | |||||||||
| 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): | 12.41% | Current US Bond Yield: | 3.48% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (7.2%) | ||||||||||
| 2026 | $6B | MBG Intrinsic Value | $96 | ||||||||
| 2027 | $7B | ||||||||||
| 2028 | $7B | ||||||||||
| 2029 | $7B | ||||||||||
| 2030 | $8B | ||||||||||
| 2031 | $8B | ||||||||||
| Terminal Value | $81B | Net Worth/Share | $26 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $69B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $7B | $87 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $6B | WACC | 10.4% | 101 | 105 | 110 | 115 | 120 | |||
| Equity Value | $69B | 11.3% | 92 | 95 | 98 | 102 | 107 | ||||
| Shares Outstanding | 793,609,867 | 12.2% | 84 | 86 | 89 | 92 | 96 | ||||
| 13.1% | 77 | 80 | 82 | 84 | 87 | ||||||
| DCF Intrinsic Value | $87 | 14.0% | 72 | 74 | 75 | 77 | 80 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||