| Intrinsic Valuation of: AZN | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 7 | Market Cap | $282B | |||||
| 2021 | - | - (-) | P/E Ratio | 27 | Total Asset | $114B | |||||
| 2022 | $7B | - (-) | Net Income | $10B | Total Debt | $25B | |||||
| 2023 | $7B | -9.3% (-12.1%) | EBITDA | $20B | Total Liab | $65B | |||||
| 2024 | $7B | 10.8% (-6.1%) | Opr Margin | 22.69 | Debt/Equity | 0.51 | |||||
| 2025 | $9B | 19.2% (9.7%) | PreTax Margin | 19.94 | BV/Share | -7 | |||||
| 5Y Average FCF | $7B | 8.8% (-2.8%) | |||||||||
| 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 (8.8%) | ||||||||||
| 2026 | $9B | MBG Intrinsic Value | $59 | ||||||||
| 2027 | $10B | ||||||||||
| 2028 | $10B | ||||||||||
| 2029 | $11B | ||||||||||
| 2030 | $11B | ||||||||||
| 2031 | $12B | ||||||||||
| Terminal Value | $261B | Net Worth/Share | $31 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $223B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $6B | $132 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $25B | WACC | 6.5% | 123 | 135 | 150 | 169 | 194 | |||
| Equity Value | $204B | 7.1% | 108 | 117 | 128 | 142 | 159 | ||||
| Shares Outstanding | 1,550,848,083 | 7.8% | 95 | 103 | 111 | 121 | 134 | ||||
| 8.4% | 85 | 91 | 98 | 105 | 115 | ||||||
| DCF Intrinsic Value | $132 | 9.0% | 77 | 82 | 87 | 93 | 100 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||