| Intrinsic Valuation of: CEG | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 9 | Market Cap | $97B | |||||
| 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 | $85 | ||||||||
| 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 | $-363 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $7B | WACC | 7.3% | -321 | -343 | -370 | -403 | -445 | |||
| Equity Value | $-114B | 7.4% | -318 | -340 | -366 | -399 | -439 | ||||
| Shares Outstanding | 313,416,992 | 7.4% | -316 | -337 | -363 | -394 | -434 | ||||
| 7.9% | -292 | -310 | -330 | -355 | -386 | ||||||
| DCF Intrinsic Value | $-363 | 8.4% | -272 | -286 | -304 | -324 | -348 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||