| Intrinsic Valuation of: CEG | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 10 | Market Cap | $96B | |||||
| 2021 | - | - (-) | P/E Ratio | 32 | Total Asset | $53B | |||||
| 2022 | $-3B | - (-) | Net Income | $4B | Total Debt | $7B | |||||
| 2023 | $-4B | -51.6% (-21.8%) | EBITDA | $7B | Total Liab | $39B | |||||
| 2024 | $-8B | -91.1% (-87.4%) | Opr Margin | 0.21 | Debt/Equity | 0.55 | |||||
| 2025 | $-5B | 34.9% (31.2%) | PreTax Margin | 18.42 | BV/Share | 41 | |||||
| 5Y Average FCF | $-5B | -35.9% (-26.0%) | |||||||||
| 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 (4.0%) | ||||||||||
| 2026 | $-5B | MBG Intrinsic Value | $86 | ||||||||
| 2027 | $-5B | ||||||||||
| 2028 | $-5B | ||||||||||
| 2029 | $-6B | ||||||||||
| 2030 | $-6B | ||||||||||
| 2031 | $-6B | ||||||||||
| Terminal Value | $-128B | Net Worth/Share | $43 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $-109B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $3B | $-364 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $7B | WACC | 7.3% | -322 | -344 | -371 | -404 | -446 | |||
| Equity Value | $-114B | 7.4% | -320 | -341 | -368 | -400 | -441 | ||||
| Shares Outstanding | 312,406,016 | 7.4% | -317 | -338 | -364 | -396 | -435 | ||||
| 7.9% | -293 | -311 | -332 | -357 | -387 | ||||||
| DCF Intrinsic Value | $-364 | 8.4% | -273 | -287 | -304 | -325 | -349 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||