| Intrinsic Valuation of: CINF | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 17 | Market Cap | $26B | |||||
| 2021 | - | - (-) | P/E Ratio | 10 | Total Asset | $41B | |||||
| 2022 | $2B | - (-) | Net Income | $2B | Total Debt | $790M | |||||
| 2023 | $2B | -0.1% (-34.6%) | EBITDA | - | Total Liab | $25B | |||||
| 2024 | $3B | 29.2% (14.1%) | Opr Margin | - | Debt/Equity | 0.05 | |||||
| 2025 | $3B | 17.7% (5.6%) | PreTax Margin | - | BV/Share | 103 | |||||
| 5Y Average FCF | $2B | 15.0% (-5.0%) | |||||||||
| 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): | 7.00% | Current US Bond Yield: | 3.48% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (15.0%) | ||||||||||
| 2026 | $3B | MBG Intrinsic Value | $156 | ||||||||
| 2027 | $4B | ||||||||||
| 2028 | $4B | ||||||||||
| 2029 | $4B | ||||||||||
| 2030 | $5B | ||||||||||
| 2031 | $5B | ||||||||||
| Terminal Value | $108B | Net Worth/Share | $103 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $92B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $1B | $597 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $790M | WACC | 6.5% | 560 | 610 | 672 | 751 | 857 | |||
| Equity Value | $92B | 7.1% | 498 | 536 | 581 | 638 | 711 | ||||
| Shares Outstanding | 154,686,742 | 7.8% | 447 | 476 | 511 | 553 | 606 | ||||
| 8.4% | 405 | 429 | 456 | 488 | 527 | ||||||
| DCF Intrinsic Value | $597 | 9.0% | 371 | 390 | 412 | 438 | 468 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||