| Intrinsic Valuation of: CINF | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 9 | Market Cap | $23B | |||||
| 2021 | - | - (-) | P/E Ratio | 16 | Total Asset | $37B | |||||
| 2022 | $2B | - (-) | Net Income | $2B | Total Debt | $790M | |||||
| 2023 | $2B | 3.6% (52.0%) | EBITDA | - | Total Liab | $23B | |||||
| 2024 | $2B | -0.1% (-34.6%) | Opr Margin | - | Debt/Equity | 0.06 | |||||
| 2025 | $3B | 29.2% (14.1%) | PreTax Margin | - | BV/Share | 89 | |||||
| 5Y Average FCF | $2B | 10.9% (10.5%) | |||||||||
| 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 (10.9%) | ||||||||||
| 2026 | $3B | MBG Intrinsic Value | $82 | ||||||||
| 2027 | $3B | ||||||||||
| 2028 | $4B | ||||||||||
| 2029 | $4B | ||||||||||
| 2030 | $4B | ||||||||||
| 2031 | $5B | ||||||||||
| Terminal Value | $101B | Net Worth/Share | $89 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $84B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $983M | $536 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $790M | WACC | 7.3% | 470 | 505 | 548 | 600 | 666 | |||
| Equity Value | $84B | 7.4% | 466 | 500 | 542 | 593 | 657 | ||||
| Shares Outstanding | 156,304,000 | 7.4% | 462 | 496 | 536 | 586 | 649 | ||||
| 7.9% | 424 | 452 | 485 | 525 | 574 | ||||||
| DCF Intrinsic Value | $536 | 8.4% | 392 | 415 | 442 | 475 | 514 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||