| Intrinsic Valuation of: FCNCA | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 169 | Market Cap | $25B | |||||
| 2021 | - | - (-) | P/E Ratio | 12 | Total Asset | $224B | |||||
| 2022 | $-391M | - (-) | Net Income | $3B | Total Debt | $37B | |||||
| 2023 | $2B | 577.0% (289.4%) | EBITDA | - | Total Liab | $201B | |||||
| 2024 | $1B | -33.9% (-65.9%) | Opr Margin | - | Debt/Equity | 1.65 | |||||
| 2025 | $1B | 17.9% (8.6%) | PreTax Margin | - | BV/Share | 1,739 | |||||
| 5Y Average FCF | $1B | 187.0% (77.4%) | |||||||||
| 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 | $2B | MBG Intrinsic Value | $1,514 | ||||||||
| 2027 | $2B | ||||||||||
| 2028 | $3B | ||||||||||
| 2029 | $4B | ||||||||||
| 2030 | $4B | ||||||||||
| 2031 | $6B | ||||||||||
| Terminal Value | $115B | Net Worth/Share | $1,865 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $90B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $22B | $6,360 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $37B | WACC | 7.3% | 5,371 | 5,897 | 6,531 | 7,312 | 8,296 | |||
| Equity Value | $76B | 7.4% | 5,309 | 5,824 | 6,445 | 7,207 | 8,165 | ||||
| Shares Outstanding | 11,916,000 | 7.4% | 5,248 | 5,753 | 6,360 | 7,104 | 8,038 | ||||
| 7.9% | 4,691 | 5,107 | 5,601 | 6,194 | 6,921 | ||||||
| DCF Intrinsic Value | $6,360 | 8.4% | 4,215 | 4,564 | 4,971 | 5,452 | 6,032 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||