| Intrinsic Valuation of: DUOL | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 9 | Market Cap | $5B | |||||
| 2021 | - | - (-) | P/E Ratio | 13 | Total Asset | $2B | |||||
| 2022 | $44M | - (-) | Net Income | $414M | Total Debt | $0 | |||||
| 2023 | $140M | 221.4% (123.6%) | EBITDA | $150M | Total Liab | $645M | |||||
| 2024 | $264M | 88.9% (34.1%) | Opr Margin | 13.07 | Debt/Equity | - | |||||
| 2025 | $360M | 36.3% (-1.7%) | PreTax Margin | 13.07 | BV/Share | 32 | |||||
| 5Y Average FCF | $202M | 15.0% (52.0%) | |||||||||
| 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): | 8.43% | 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 | $360M | MBG Intrinsic Value | $78 | ||||||||
| 2027 | $405M | ||||||||||
| 2028 | $445M | ||||||||||
| 2029 | $479M | ||||||||||
| 2030 | $502M | ||||||||||
| 2031 | $515M | ||||||||||
| Terminal Value | $9B | Net Worth/Share | $33 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $7B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $1B | $212 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $0 | WACC | 6.5% | 257 | 277 | 303 | 336 | 380 | |||
| Equity Value | $9B | 7.5% | 218 | 232 | 248 | 268 | 292 | ||||
| Shares Outstanding | 40,237,065 | 8.5% | 190 | 200 | 211 | 224 | 239 | ||||
| 9.4% | 169 | 176 | 184 | 193 | 203 | ||||||
| DCF Intrinsic Value | $212 | 10.4% | 153 | 158 | 164 | 171 | 178 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||