| 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 | $16B | |||||
| 2021 | - | - (-) | P/E Ratio | 69 | Total Asset | $3B | |||||
| 2022 | $270M | - (-) | Net Income | $235M | Total Debt | $1B | |||||
| 2023 | $256M | -5.4% (-17.0%) | EBITDA | $382M | Total Liab | $2B | |||||
| 2024 | $392M | 53.1% (37.0%) | Opr Margin | 0.22 | Debt/Equity | 1.33 | |||||
| 2025 | $421M | 7.5% (-2.4%) | PreTax Margin | 20.50 | BV/Share | -5 | |||||
| 5Y Average FCF | $335M | 18.4% (5.9%) | |||||||||
| 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 (18.4%) | ||||||||||
| 2026 | $499M | MBG Intrinsic Value | $7 | ||||||||
| 2027 | $591M | ||||||||||
| 2028 | $699M | ||||||||||
| 2029 | $828M | ||||||||||
| 2030 | $981M | ||||||||||
| 2031 | $1B | ||||||||||
| Terminal Value | $24B | Net Worth/Share | $4 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $19B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $64M | $62 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $1B | WACC | 7.3% | 53 | 58 | 63 | 70 | 78 | |||
| Equity Value | $18B | 7.4% | 53 | 57 | 62 | 69 | 77 | ||||
| Shares Outstanding | 291,844,000 | 7.4% | 52 | 56 | 62 | 68 | 76 | ||||
| 7.9% | 47 | 51 | 55 | 60 | 66 | ||||||
| DCF Intrinsic Value | $62 | 8.4% | 43 | 46 | 50 | 54 | 59 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||