| Intrinsic Valuation of: FUTU | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 6 | Market Cap | $17B | |||||
| 2021 | - | - (-) | P/E Ratio | 20 | Total Asset | $159B | |||||
| 2022 | $6B | - (-) | Net Income | $5B | Total Debt | $0 | |||||
| 2023 | $3B | -43.0% (-46.8%) | EBITDA | $7B | Total Liab | $131B | |||||
| 2024 | $-6B | -289.6% (-244.2%) | Opr Margin | 0.49 | Debt/Equity | - | |||||
| 2025 | $31B | 580.6% (453.9%) | PreTax Margin | 48.72 | BV/Share | 295 | |||||
| 5Y Average FCF | $8B | 82.7% (54.3%) | |||||||||
| 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 | $39B | MBG Intrinsic Value | $53 | ||||||||
| 2027 | $48B | ||||||||||
| 2028 | $60B | ||||||||||
| 2029 | $75B | ||||||||||
| 2030 | $94B | ||||||||||
| 2031 | $118B | ||||||||||
| Terminal Value | $2,445B | Net Worth/Share | $295 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $1,915B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $12B | $20,332 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $0 | WACC | 7.3% | 17,694 | 19,096 | 20,788 | 22,871 | 25,497 | |||
| Equity Value | $1,927B | 7.4% | 17,529 | 18,902 | 20,558 | 22,591 | 25,148 | ||||
| Shares Outstanding | 94,783,504 | 7.4% | 17,366 | 18,713 | 20,332 | 22,317 | 24,807 | ||||
| 7.9% | 15,880 | 16,991 | 18,306 | 19,889 | 21,828 | ||||||
| DCF Intrinsic Value | $20,332 | 8.4% | 14,611 | 15,540 | 16,625 | 17,911 | 19,457 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||