| Intrinsic Valuation of: GOOG | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 13 | Market Cap | $4,765B | |||||
| 2021 | - | - (-) | P/E Ratio | 30 | Total Asset | $595B | |||||
| 2022 | $60B | - (-) | Net Income | $132B | Total Debt | $47B | |||||
| 2023 | $69B | 15.8% (6.6%) | EBITDA | $181B | Total Liab | - | |||||
| 2024 | $73B | 4.7% (-8.0%) | Opr Margin | 32.03 | Debt/Equity | 0.11 | |||||
| 2025 | $73B | 0.7% (-12.5%) | PreTax Margin | 31.85 | BV/Share | 70 | |||||
| 5Y Average FCF | $69B | 10.4% (-4.6%) | |||||||||
| 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): | 10.38% | Current US Bond Yield: | 3.48% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (10.4%) | ||||||||||
| 2026 | $79B | MBG Intrinsic Value | $118 | ||||||||
| 2027 | $86B | ||||||||||
| 2028 | $93B | ||||||||||
| 2029 | $98B | ||||||||||
| 2030 | $102B | ||||||||||
| 2031 | $104B | ||||||||||
| Terminal Value | $1,354B | Net Worth/Share | $76 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $1,146B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $31B | $207 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $47B | WACC | 8.4% | 248 | 263 | 279 | 300 | 324 | |||
| Equity Value | $1,130B | 9.4% | 216 | 226 | 238 | 252 | 268 | ||||
| Shares Outstanding | 5,456,000,000 | 10.4% | 190 | 198 | 207 | 217 | 228 | ||||
| 11.4% | 170 | 176 | 183 | 191 | 199 | ||||||
| DCF Intrinsic Value | $207 | 12.4% | 154 | 159 | 164 | 170 | 176 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||