| Intrinsic Valuation of: FCNCA | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 173 | Market Cap | $22B | |||||
| 2021 | - | - (-) | P/E Ratio | 11 | Total Asset | $230B | |||||
| 2022 | $2B | - (-) | Net Income | $2B | Total Debt | $36B | |||||
| 2023 | $1B | -33.9% (-65.8%) | EBITDA | - | Total Liab | $207B | |||||
| 2024 | $1B | 17.9% (8.7%) | Opr Margin | - | Debt/Equity | 1.61 | |||||
| 2025 | $1B | -6.3% (-3.8%) | PreTax Margin | - | BV/Share | 1,917 | |||||
| 5Y Average FCF | $1B | 15.0% (-20.3%) | |||||||||
| 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): | 8.53% | 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 | $2B | MBG Intrinsic Value | $1,554 | ||||||||
| 2027 | $2B | ||||||||||
| 2028 | $2B | ||||||||||
| 2029 | $2B | ||||||||||
| 2030 | $2B | ||||||||||
| 2031 | $2B | ||||||||||
| Terminal Value | $39B | Net Worth/Share | $2,102 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $33B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $21B | $1,675 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $36B | WACC | 6.5% | 2,465 | 2,809 | 3,238 | 3,788 | 4,519 | |||
| Equity Value | $18B | 7.5% | 1,806 | 2,031 | 2,300 | 2,629 | 3,039 | ||||
| Shares Outstanding | 10,581,789 | 8.5% | 1,335 | 1,491 | 1,673 | 1,888 | 2,145 | ||||
| 9.5% | 981 | 1,094 | 1,224 | 1,373 | 1,547 | ||||||
| DCF Intrinsic Value | $1,675 | 10.5% | 706 | 791 | 886 | 995 | 1,118 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||