| Intrinsic Valuation of: GLPI | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 3 | Market Cap | $14B | |||||
| 2021 | - | - (-) | P/E Ratio | 18 | Total Asset | $13B | |||||
| 2022 | $788M | - (-) | Net Income | $785M | Total Debt | $8B | |||||
| 2023 | $896M | 13.8% (5.5%) | EBITDA | $1B | Total Liab | $9B | |||||
| 2024 | $962M | 7.3% (-2.2%) | Opr Margin | 0.74 | Debt/Equity | 1.67 | |||||
| 2025 | $1B | 7.4% (1.0%) | PreTax Margin | 49.62 | BV/Share | 12 | |||||
| 5Y Average FCF | $920M | 9.5% (1.4%) | |||||||||
| 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 (9.5%) | ||||||||||
| 2026 | $1B | MBG Intrinsic Value | $23 | ||||||||
| 2027 | $1B | ||||||||||
| 2028 | $1B | ||||||||||
| 2029 | $1B | ||||||||||
| 2030 | $2B | ||||||||||
| 2031 | $2B | ||||||||||
| Terminal Value | $37B | Net Worth/Share | $16 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $31B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $463M | $83 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $8B | WACC | 7.3% | 70 | 77 | 85 | 96 | 109 | |||
| Equity Value | $23B | 7.4% | 69 | 76 | 84 | 94 | 107 | ||||
| Shares Outstanding | 283,008,000 | 7.4% | 68 | 75 | 83 | 93 | 106 | ||||
| 7.9% | 60 | 66 | 73 | 81 | 90 | ||||||
| DCF Intrinsic Value | $83 | 8.4% | 54 | 58 | 64 | 70 | 78 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||