| Intrinsic Valuation of: GOOG | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 9 | Market Cap | $2,139B | |||||
| 2021 | - | - (-) | P/E Ratio | 20 | Total Asset | $450B | |||||
| 2022 | $67B | - (-) | Net Income | $100B | Total Debt | $11B | |||||
| 2023 | $60B | -10.4% (-18.4%) | EBITDA | $135B | Total Liab | $125B | |||||
| 2024 | $69B | 15.8% (6.6%) | Opr Margin | 0.32 | Debt/Equity | 0.03 | |||||
| 2025 | $73B | 4.7% (-8.0%) | PreTax Margin | 32.03 | BV/Share | 54 | |||||
| 5Y Average FCF | $67B | 3.4% (-6.6%) | |||||||||
| 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 (4.0%) | ||||||||||
| 2026 | $76B | MBG Intrinsic Value | $80 | ||||||||
| 2027 | $79B | ||||||||||
| 2028 | $82B | ||||||||||
| 2029 | $85B | ||||||||||
| 2030 | $89B | ||||||||||
| 2031 | $92B | ||||||||||
| Terminal Value | $1,914B | Net Worth/Share | $60 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $1,636B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $23B | $302 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $11B | WACC | 7.3% | 266 | 285 | 308 | 336 | 372 | |||
| Equity Value | $1,648B | 7.4% | 264 | 283 | 305 | 333 | 367 | ||||
| Shares Outstanding | 5,458,999,808 | 7.4% | 262 | 280 | 302 | 329 | 363 | ||||
| 7.9% | 241 | 256 | 274 | 296 | 322 | ||||||
| DCF Intrinsic Value | $302 | 8.4% | 224 | 236 | 251 | 268 | 289 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||