| Intrinsic Valuation of: FWONA | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 2 | Market Cap | $21B | |||||
| 2021 | - | - (-) | P/E Ratio | 36 | Total Asset | $15B | |||||
| 2022 | $243M | - (-) | Net Income | $555M | Total Debt | $5B | |||||
| 2023 | $2B | 724.3% (493.7%) | EBITDA | $1B | Total Liab | $7B | |||||
| 2024 | $1B | -32.1% (-33.6%) | Opr Margin | 13.48 | Debt/Equity | 0.60 | |||||
| 2025 | $751M | -44.8% (-55.0%) | PreTax Margin | 7.92 | BV/Share | -182 | |||||
| 5Y Average FCF | $1B | 15.0% (135.0%) | |||||||||
| 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 | $980M | MBG Intrinsic Value | $20 | ||||||||
| 2027 | $1B | ||||||||||
| 2028 | $1B | ||||||||||
| 2029 | $1B | ||||||||||
| 2030 | $1B | ||||||||||
| 2031 | $1B | ||||||||||
| Terminal Value | $32B | Net Worth/Share | $352 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $27B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $1B | $958 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $5B | WACC | 6.5% | 888 | 982 | 1,100 | 1,251 | 1,451 | |||
| Equity Value | $23B | 7.1% | 770 | 841 | 928 | 1,036 | 1,174 | ||||
| Shares Outstanding | 23,991,058 | 7.8% | 673 | 729 | 795 | 875 | 974 | ||||
| 8.4% | 594 | 639 | 690 | 752 | 826 | ||||||
| DCF Intrinsic Value | $958 | 9.0% | 530 | 566 | 607 | 656 | 713 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||