| Intrinsic Valuation of: BIDU | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 10 | Market Cap | $29B | |||||
| 2021 | - | - (-) | P/E Ratio | 8 | Total Asset | $428B | |||||
| 2022 | $9B | - (-) | Net Income | $24B | Total Debt | $52B | |||||
| 2023 | $18B | 100.1% (101.5%) | EBITDA | $52B | Total Liab | $144B | |||||
| 2024 | $25B | 42.4% (30.9%) | Opr Margin | 0.16 | Debt/Equity | 0.18 | |||||
| 2025 | $13B | -48.8% (-48.2%) | PreTax Margin | 13.86 | BV/Share | 786 | |||||
| 5Y Average FCF | $16B | 31.3% (28.1%) | |||||||||
| 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 | $16B | MBG Intrinsic Value | $91 | ||||||||
| 2027 | $20B | ||||||||||
| 2028 | $25B | ||||||||||
| 2029 | $32B | ||||||||||
| 2030 | $40B | ||||||||||
| 2031 | $49B | ||||||||||
| Terminal Value | $1,029B | Net Worth/Share | $1,019 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $806B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $25B | $2,800 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $52B | WACC | 7.3% | 2,422 | 2,623 | 2,865 | 3,164 | 3,541 | |||
| Equity Value | $779B | 7.4% | 2,398 | 2,595 | 2,832 | 3,124 | 3,490 | ||||
| Shares Outstanding | 278,228,000 | 7.4% | 2,375 | 2,568 | 2,800 | 3,085 | 3,442 | ||||
| 7.9% | 2,162 | 2,321 | 2,510 | 2,736 | 3,015 | ||||||
| DCF Intrinsic Value | $2,800 | 8.4% | 1,980 | 2,113 | 2,269 | 2,453 | 2,675 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||