| Intrinsic Valuation of: HBAN | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 1 | Market Cap | $25B | |||||
| 2021 | - | - (-) | P/E Ratio | 13 | Total Asset | $204B | |||||
| 2022 | $2B | - (-) | Net Income | $2B | Total Debt | $16B | |||||
| 2023 | $4B | 110.1% (73.5%) | EBITDA | - | Total Liab | $184B | |||||
| 2024 | $3B | -34.0% (-34.4%) | Opr Margin | - | Debt/Equity | 0.83 | |||||
| 2025 | $2B | -33.6% (-34.3%) | PreTax Margin | - | BV/Share | 8 | |||||
| 5Y Average FCF | $2B | 14.2% (1.6%) | |||||||||
| 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 (14.2%) | ||||||||||
| 2026 | $2B | MBG Intrinsic Value | $12 | ||||||||
| 2027 | $2B | ||||||||||
| 2028 | $2B | ||||||||||
| 2029 | $3B | ||||||||||
| 2030 | $3B | ||||||||||
| 2031 | $4B | ||||||||||
| Terminal Value | $77B | Net Worth/Share | $14 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $63B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $13B | $41 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $16B | WACC | 7.3% | 35 | 38 | 42 | 46 | 51 | |||
| Equity Value | $60B | 7.4% | 35 | 38 | 41 | 45 | 51 | ||||
| Shares Outstanding | 1,456,809,984 | 7.4% | 35 | 38 | 41 | 45 | 50 | ||||
| 7.9% | 32 | 34 | 37 | 40 | 44 | ||||||
| DCF Intrinsic Value | $41 | 8.4% | 29 | 31 | 33 | 36 | 39 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||