| Intrinsic Valuation of: FUTU | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 10 | Market Cap | $19B | |||||
| 2021 | - | - (-) | P/E Ratio | 13 | Total Asset | $228B | |||||
| 2022 | $3B | - (-) | Net Income | $11B | Total Debt | $0 | |||||
| 2023 | $-6B | -289.6% (-244.2%) | EBITDA | $14B | Total Liab | $188B | |||||
| 2024 | $31B | 580.6% (453.9%) | Opr Margin | 61.63 | Debt/Equity | - | |||||
| 2025 | $41B | 32.1% (-21.4%) | PreTax Margin | 61.63 | BV/Share | 415 | |||||
| 5Y Average FCF | $17B | 15.0% (62.8%) | |||||||||
| 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 (15.0%) | ||||||||||
| 2026 | $41B | MBG Intrinsic Value | $92 | ||||||||
| 2027 | $47B | ||||||||||
| 2028 | $51B | ||||||||||
| 2029 | $55B | ||||||||||
| 2030 | $58B | ||||||||||
| 2031 | $59B | ||||||||||
| Terminal Value | $1,343B | Net Worth/Share | $421 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $1,139B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $10B | $12,006 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $0 | WACC | 6.5% | 11,273 | 12,268 | 13,511 | 15,107 | 17,231 | |||
| Equity Value | $1,150B | 7.1% | 10,017 | 10,773 | 11,693 | 12,835 | 14,291 | ||||
| Shares Outstanding | 95,750,481 | 7.8% | 8,995 | 9,584 | 10,285 | 11,132 | 12,178 | ||||
| 8.4% | 8,161 | 8,630 | 9,178 | 9,827 | 10,609 | ||||||
| DCF Intrinsic Value | $12,006 | 9.0% | 7,477 | 7,858 | 8,297 | 8,810 | 9,415 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||