| Intrinsic Valuation of: BSY | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 1 | Market Cap | $10B | |||||
| 2021 | - | - (-) | P/E Ratio | 37 | Total Asset | $4B | |||||
| 2022 | $256M | - (-) | Net Income | $278M | Total Debt | $1B | |||||
| 2023 | $392M | 53.1% (37.0%) | EBITDA | $432M | Total Liab | $2B | |||||
| 2024 | $421M | 7.5% (-2.4%) | Opr Margin | 24.15 | Debt/Equity | 1.05 | |||||
| 2025 | $520M | 23.5% (11.3%) | PreTax Margin | 23.13 | BV/Share | -5 | |||||
| 5Y Average FCF | $397M | 15.0% (15.3%) | |||||||||
| 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): | 8.27% | Current US Bond Yield: | 3.48% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (15.0%) | ||||||||||
| 2026 | $556M | MBG Intrinsic Value | $8 | ||||||||
| 2027 | $625M | ||||||||||
| 2028 | $688M | ||||||||||
| 2029 | $739M | ||||||||||
| 2030 | $776M | ||||||||||
| 2031 | $795M | ||||||||||
| Terminal Value | $14B | Net Worth/Share | $4 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $12B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $123M | $37 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $1B | WACC | 6.5% | 45 | 50 | 55 | 62 | 71 | |||
| Equity Value | $11B | 7.4% | 37 | 40 | 44 | 48 | 53 | ||||
| Shares Outstanding | 292,281,547 | 8.4% | 32 | 34 | 36 | 39 | 42 | ||||
| 9.3% | 27 | 29 | 30 | 32 | 35 | ||||||
| DCF Intrinsic Value | $37 | 10.3% | 24 | 25 | 26 | 28 | 29 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||