| Intrinsic Valuation of: AZN | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 3 | Market Cap | $222B | |||||
| 2021 | - | - (-) | P/E Ratio | 28 | Total Asset | $104B | |||||
| 2022 | $4B | - (-) | Net Income | $7B | Total Debt | $27B | |||||
| 2023 | $7B | 92.3% (62.3%) | EBITDA | $15B | Total Liab | $63B | |||||
| 2024 | $7B | -9.3% (-12.1%) | Opr Margin | 0.19 | Debt/Equity | 0.65 | |||||
| 2025 | $7B | 10.8% (-6.1%) | PreTax Margin | 15.85 | BV/Share | -6 | |||||
| 5Y Average FCF | $6B | 31.3% (14.7%) | |||||||||
| 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 | $9B | MBG Intrinsic Value | $23 | ||||||||
| 2027 | $11B | ||||||||||
| 2028 | $14B | ||||||||||
| 2029 | $18B | ||||||||||
| 2030 | $22B | ||||||||||
| 2031 | $28B | ||||||||||
| Terminal Value | $577B | Net Worth/Share | $13 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $452B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $5B | $139 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $27B | WACC | 7.3% | 120 | 130 | 142 | 157 | 176 | |||
| Equity Value | $431B | 7.4% | 119 | 129 | 141 | 155 | 174 | ||||
| Shares Outstanding | 3,100,430,080 | 7.4% | 118 | 127 | 139 | 153 | 171 | ||||
| 7.9% | 107 | 115 | 124 | 136 | 150 | ||||||
| DCF Intrinsic Value | $139 | 8.4% | 98 | 104 | 112 | 122 | 133 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||