| Intrinsic Valuation of: GRAB | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 0 | Market Cap | $21B | |||||
| 2021 | - | - (-) | P/E Ratio | 493 | Total Asset | $9B | |||||
| 2022 | $-1B | - (-) | Net Income | $-105M | Total Debt | $116M | |||||
| 2023 | $-872M | 16.1% (60.5%) | EBITDA | $93M | Total Liab | $3B | |||||
| 2024 | $-6M | 99.3% (99.6%) | Opr Margin | -0.02 | Debt/Equity | 0.02 | |||||
| 2025 | $739M | 12416.7% (10487.9%) | PreTax Margin | -3.43 | BV/Share | 1 | |||||
| 5Y Average FCF | $-294M | 4177.4% (3549.3%) | |||||||||
| 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 | $924M | MBG Intrinsic Value | $0 | ||||||||
| 2027 | $1B | ||||||||||
| 2028 | $1B | ||||||||||
| 2029 | $2B | ||||||||||
| 2030 | $2B | ||||||||||
| 2031 | $3B | ||||||||||
| Terminal Value | $59B | Net Worth/Share | $2 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $46B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $3B | $12 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $116M | WACC | 7.3% | 11 | 11 | 12 | 14 | 15 | |||
| Equity Value | $49B | 7.4% | 11 | 11 | 12 | 13 | 15 | ||||
| Shares Outstanding | 4,004,000,000 | 7.4% | 10 | 11 | 12 | 13 | 15 | ||||
| 7.9% | 10 | 10 | 11 | 12 | 13 | ||||||
| DCF Intrinsic Value | $12 | 8.4% | 9 | 9 | 10 | 11 | 12 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||