| Intrinsic Valuation of: COST | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 18 | Market Cap | $437B | |||||
| 2021 | - | - (-) | P/E Ratio | 56 | Total Asset | $70B | |||||
| 2022 | $5B | - (-) | Net Income | $7B | Total Debt | $6B | |||||
| 2023 | $4B | -34.8% (-43.7%) | EBITDA | $12B | Total Liab | $46B | |||||
| 2024 | $7B | 92.7% (80.5%) | Opr Margin | 0.04 | Debt/Equity | 0.25 | |||||
| 2025 | $7B | -1.7% (-6.4%) | PreTax Margin | 3.58 | BV/Share | 53 | |||||
| 5Y Average FCF | $6B | 18.7% (10.1%) | |||||||||
| 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 (18.7%) | ||||||||||
| 2026 | $8B | MBG Intrinsic Value | $158 | ||||||||
| 2027 | $9B | ||||||||||
| 2028 | $11B | ||||||||||
| 2029 | $13B | ||||||||||
| 2030 | $16B | ||||||||||
| 2031 | $19B | ||||||||||
| Terminal Value | $386B | Net Worth/Share | $53 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $308B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $10B | $704 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $6B | WACC | 7.3% | 615 | 662 | 720 | 790 | 878 | |||
| Equity Value | $312B | 7.4% | 610 | 656 | 712 | 780 | 867 | ||||
| Shares Outstanding | 443,476,992 | 7.4% | 604 | 650 | 704 | 771 | 855 | ||||
| 7.9% | 554 | 591 | 636 | 689 | 754 | ||||||
| DCF Intrinsic Value | $704 | 8.4% | 511 | 542 | 579 | 622 | 674 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||