| Intrinsic Valuation of: AMZN | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 6 | Market Cap | $2,340B | |||||
| 2021 | - | - (-) | P/E Ratio | 36 | Total Asset | $625B | |||||
| 2022 | $-15B | - (-) | Net Income | $59B | Total Debt | $53B | |||||
| 2023 | $-17B | -14.7% (-4.9%) | EBITDA | $124B | Total Liab | $339B | |||||
| 2024 | $32B | 290.7% (270.5%) | Opr Margin | 0.11 | Debt/Equity | 0.18 | |||||
| 2025 | $33B | 2.1% (-8.1%) | PreTax Margin | 10.37 | BV/Share | 24 | |||||
| 5Y Average FCF | $8B | 92.7% (85.8%) | |||||||||
| 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 (25.0%) | ||||||||||
| 2026 | $41B | MBG Intrinsic Value | $55 | ||||||||
| 2027 | $51B | ||||||||||
| 2028 | $64B | ||||||||||
| 2029 | $80B | ||||||||||
| 2030 | $100B | ||||||||||
| 2031 | $125B | ||||||||||
| Terminal Value | $2,608B | Net Worth/Share | $27 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $2,043B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $79B | $195 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $53B | WACC | 7.3% | 170 | 183 | 199 | 219 | 244 | |||
| Equity Value | $2,069B | 7.4% | 168 | 181 | 197 | 216 | 241 | ||||
| Shares Outstanding | 10,616,399,872 | 7.4% | 167 | 179 | 195 | 214 | 237 | ||||
| 7.9% | 152 | 163 | 176 | 191 | 209 | ||||||
| DCF Intrinsic Value | $195 | 8.4% | 140 | 149 | 160 | 172 | 187 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||