| Intrinsic Valuation of: BNTX | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | -6 | Market Cap | $23B | |||||
| 2021 | - | - (-) | P/E Ratio | - | Total Asset | $22B | |||||
| 2022 | $13B | - (-) | Net Income | $-1B | Total Debt | $215M | |||||
| 2023 | $5B | -64.7% (60.1%) | EBITDA | $-654M | Total Liab | $3B | |||||
| 2024 | $-245M | -105.2% (-107.3%) | Opr Margin | -22.32 | Debt/Equity | 0.01 | |||||
| 2025 | $-293M | -19.8% (-14.8%) | PreTax Margin | -22.82 | BV/Share | 68 | |||||
| 5Y Average FCF | $4B | -2.0% (-20.7%) | |||||||||
| Overall Market Assumptions: | |||||||||||
| Assumptions: | P/E for No-Growth Company: | 7.0 | |||||||||
| Perpetual Growth Rate (g): | 1.00% | Historical US Bond Yield: | 4.40% | ||||||||
| Discount Rate (WACC): | 10.98% | Current US Bond Yield: | 3.48% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (-2.0%) | ||||||||||
| 2026 | $9B | MBG Intrinsic Value | $-53 | ||||||||
| 2027 | $9B | ||||||||||
| 2028 | $9B | ||||||||||
| 2029 | $9B | ||||||||||
| 2030 | $9B | ||||||||||
| 2031 | $9B | ||||||||||
| Terminal Value | $88B | Net Worth/Share | $76 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $84B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $8B | $360 | 1.0% | 1.2% | 1.5% | 1.8% | 2.0% | ||||
| (-) Total Debt | $215M | WACC | 9.0% | 442 | 451 | 461 | 471 | 482 | |||
| Equity Value | $91B | 10.0% | 396 | 403 | 410 | 418 | 426 | ||||
| Shares Outstanding | 252,884,261 | 11.0% | 360 | 365 | 371 | 376 | 383 | ||||
| 12.0% | 330 | 334 | 338 | 343 | 348 | ||||||
| DCF Intrinsic Value | $360 | 13.0% | 305 | 308 | 312 | 316 | 319 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||