| Intrinsic Valuation of: COST | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 19 | Market Cap | $465B | |||||
| 2021 | - | - (-) | P/E Ratio | 55 | Total Asset | $77B | |||||
| 2022 | $4B | - (-) | Net Income | $8B | Total Debt | $6B | |||||
| 2023 | $7B | 92.7% (80.5%) | EBITDA | $13B | Total Liab | $48B | |||||
| 2024 | $7B | -1.7% (-6.4%) | Opr Margin | 3.77 | Debt/Equity | 0.20 | |||||
| 2025 | $8B | 18.2% (9.3%) | PreTax Margin | 3.72 | BV/Share | 66 | |||||
| 5Y Average FCF | $6B | 15.0% (27.8%) | |||||||||
| 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): | 8.40% | 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 | $8B | MBG Intrinsic Value | $172 | ||||||||
| 2027 | $9B | ||||||||||
| 2028 | $10B | ||||||||||
| 2029 | $11B | ||||||||||
| 2030 | $12B | ||||||||||
| 2031 | $12B | ||||||||||
| Terminal Value | $209B | Net Worth/Share | $66 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $176B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $14B | $417 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $6B | WACC | 6.5% | 510 | 554 | 609 | 679 | 772 | |||
| Equity Value | $185B | 7.5% | 428 | 457 | 491 | 533 | 586 | ||||
| Shares Outstanding | 443,652,540 | 8.4% | 370 | 390 | 413 | 441 | 474 | ||||
| 9.4% | 325 | 340 | 356 | 376 | 398 | ||||||
| DCF Intrinsic Value | $417 | 10.4% | 291 | 302 | 314 | 328 | 344 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||