| Intrinsic Valuation of: ANSS | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 7 | Market Cap | $31B | |||||
| 2021 | - | - (-) | P/E Ratio | 52 | Total Asset | $8B | |||||
| 2022 | $526M | - (-) | Net Income | $576M | Total Debt | $754M | |||||
| 2023 | $607M | 15.2% (6.4%) | EBITDA | $909M | Total Liab | $2B | |||||
| 2024 | $692M | 14.0% (3.8%) | Opr Margin | 0.28 | Debt/Equity | 0.12 | |||||
| 2025 | $752M | 8.7% (-3.1%) | PreTax Margin | 26.33 | BV/Share | 18 | |||||
| 5Y Average FCF | $644M | 12.6% (2.4%) | |||||||||
| 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 (12.6%) | ||||||||||
| 2026 | $847M | MBG Intrinsic Value | $60 | ||||||||
| 2027 | $954M | ||||||||||
| 2028 | $1B | ||||||||||
| 2029 | $1B | ||||||||||
| 2030 | $1B | ||||||||||
| 2031 | $2B | ||||||||||
| Terminal Value | $32B | Net Worth/Share | $69 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $26B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $1B | $305 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $754M | WACC | 7.3% | 268 | 287 | 311 | 341 | 378 | |||
| Equity Value | $27B | 7.4% | 265 | 285 | 308 | 337 | 373 | ||||
| Shares Outstanding | 87,916,096 | 7.4% | 263 | 282 | 305 | 333 | 368 | ||||
| 7.9% | 242 | 258 | 276 | 298 | 326 | ||||||
| DCF Intrinsic Value | $305 | 8.4% | 224 | 237 | 252 | 270 | 292 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||