| Intrinsic Valuation of: DUOL | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 2 | Market Cap | $18B | |||||
| 2021 | - | - (-) | P/E Ratio | 197 | Total Asset | $1B | |||||
| 2022 | $3M | - (-) | Net Income | $89M | Total Debt | $0 | |||||
| 2023 | $44M | 1368.7% (896.8%) | EBITDA | $73M | Total Liab | $477M | |||||
| 2024 | $140M | 221.4% (123.6%) | Opr Margin | 0.08 | Debt/Equity | - | |||||
| 2025 | $264M | 88.9% (34.1%) | PreTax Margin | 8.37 | BV/Share | 20 | |||||
| 5Y Average FCF | $113M | 559.7% (351.5%) | |||||||||
| 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 (25.0%) | ||||||||||
| 2026 | $330M | MBG Intrinsic Value | $18 | ||||||||
| 2027 | $413M | ||||||||||
| 2028 | $516M | ||||||||||
| 2029 | $645M | ||||||||||
| 2030 | $807M | ||||||||||
| 2031 | $1B | ||||||||||
| Terminal Value | $21B | Net Worth/Share | $21 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $16B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $786M | $438 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $0 | WACC | 7.3% | 384 | 413 | 448 | 491 | 545 | |||
| Equity Value | $17B | 7.4% | 380 | 409 | 443 | 485 | 538 | ||||
| Shares Outstanding | 39,260,600 | 7.4% | 377 | 405 | 438 | 479 | 531 | ||||
| 7.9% | 346 | 369 | 396 | 429 | 469 | ||||||
| DCF Intrinsic Value | $438 | 8.4% | 320 | 339 | 362 | 388 | 420 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||