| Intrinsic Valuation of: EXC | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 3 | Market Cap | $44B | |||||
| 2021 | - | - (-) | P/E Ratio | 16 | Total Asset | $117B | |||||
| 2022 | $-2B | - (-) | Net Income | $3B | Total Debt | $48B | |||||
| 2023 | $-3B | -18.8% (-4.3%) | EBITDA | $9B | Total Liab | $88B | |||||
| 2024 | $-2B | 43.5% (46.7%) | Opr Margin | 21.21 | Debt/Equity | 1.66 | |||||
| 2025 | $-2B | -48.9% (-41.3%) | PreTax Margin | 12.44 | BV/Share | 22 | |||||
| 5Y Average FCF | $-2B | 2.5% (0.4%) | |||||||||
| 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): | 7.00% | Current US Bond Yield: | 3.48% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (2.5%) | ||||||||||
| 2026 | $0 | MBG Intrinsic Value | $24 | ||||||||
| 2027 | $0 | ||||||||||
| 2028 | $0 | ||||||||||
| 2029 | $0 | ||||||||||
| 2030 | $0 | ||||||||||
| 2031 | $0 | ||||||||||
| Terminal Value | $0 | Net Worth/Share | $28 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $0 | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $626M | $-46 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $48B | WACC | 6.5% | -46 | -46 | -46 | -46 | -46 | |||
| Equity Value | $-47B | 7.1% | -46 | -46 | -46 | -46 | -46 | ||||
| Shares Outstanding | 1,023,208,142 | 7.8% | -46 | -46 | -46 | -46 | -46 | ||||
| 8.4% | -46 | -46 | -46 | -46 | -46 | ||||||
| DCF Intrinsic Value | $-46 | 9.0% | -46 | -46 | -46 | -46 | -46 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||