| Intrinsic Valuation of: CSCO | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 3 | Market Cap | $467B | |||||
| 2021 | - | - (-) | P/E Ratio | 39 | Total Asset | $122B | |||||
| 2022 | $13B | - (-) | Net Income | $10B | Total Debt | $23B | |||||
| 2023 | $19B | 49.3% (35.1%) | EBITDA | $16B | Total Liab | $75B | |||||
| 2024 | $10B | -46.4% (-43.2%) | Opr Margin | 22.07 | Debt/Equity | 0.49 | |||||
| 2025 | $13B | 30.1% (23.6%) | PreTax Margin | 19.26 | BV/Share | -5 | |||||
| 5Y Average FCF | $14B | 6.5% (5.2%) | |||||||||
| 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 (6.5%) | ||||||||||
| 2026 | $14B | MBG Intrinsic Value | $27 | ||||||||
| 2027 | $15B | ||||||||||
| 2028 | $16B | ||||||||||
| 2029 | $17B | ||||||||||
| 2030 | $17B | ||||||||||
| 2031 | $17B | ||||||||||
| Terminal Value | $302B | Net Worth/Share | $12 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $259B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $8B | $62 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $23B | WACC | 6.5% | 77 | 84 | 93 | 105 | 120 | |||
| Equity Value | $244B | 7.5% | 64 | 68 | 74 | 81 | 90 | ||||
| Shares Outstanding | 3,949,893,042 | 8.4% | 54 | 58 | 61 | 66 | 71 | ||||
| 9.4% | 47 | 49 | 52 | 55 | 59 | ||||||
| DCF Intrinsic Value | $62 | 10.4% | 41 | 43 | 45 | 48 | 50 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||