| Intrinsic Valuation of: CEG | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 12 | Market Cap | $97B | |||||
| 2021 | - | - (-) | P/E Ratio | 23 | Total Asset | $57B | |||||
| 2022 | $-4B | - (-) | Net Income | $2B | Total Debt | $7B | |||||
| 2023 | $-8B | -91.1% (-87.4%) | EBITDA | $6B | Total Liab | $42B | |||||
| 2024 | $-5B | 34.9% (31.2%) | Opr Margin | 16.44 | Debt/Equity | 0.49 | |||||
| 2025 | $1B | 125.6% (123.6%) | PreTax Margin | 14.44 | BV/Share | 39 | |||||
| 5Y Average FCF | $-4B | 10.2% (22.5%) | |||||||||
| 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): | 9.47% | Current US Bond Yield: | 3.48% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (10.2%) | ||||||||||
| 2026 | $1B | MBG Intrinsic Value | $103 | ||||||||
| 2027 | $2B | ||||||||||
| 2028 | $2B | ||||||||||
| 2029 | $2B | ||||||||||
| 2030 | $2B | ||||||||||
| 2031 | $2B | ||||||||||
| Terminal Value | $27B | Net Worth/Share | $41 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $23B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $4B | $54 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $7B | WACC | 7.5% | 68 | 74 | 80 | 88 | 98 | |||
| Equity Value | $20B | 8.5% | 57 | 61 | 65 | 70 | 76 | ||||
| Shares Outstanding | 361,190,063 | 9.5% | 48 | 51 | 54 | 58 | 62 | ||||
| 10.5% | 42 | 44 | 46 | 49 | 52 | ||||||
| DCF Intrinsic Value | $54 | 11.5% | 36 | 38 | 40 | 42 | 44 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||