| Intrinsic Valuation of: KLAC | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 28 | Market Cap | $119B | |||||
| 2021 | - | - (-) | P/E Ratio | 33 | Total Asset | $15B | |||||
| 2022 | $2B | - (-) | Net Income | $3B | Total Debt | $6B | |||||
| 2023 | $3B | 53.9% (15.6%) | EBITDA | $4B | Total Liab | $12B | |||||
| 2024 | $3B | 10.7% (-2.8%) | Opr Margin | 0.37 | Debt/Equity | 1.75 | |||||
| 2025 | $3B | -8.9% (-2.6%) | PreTax Margin | 33.88 | BV/Share | 5 | |||||
| 5Y Average FCF | $3B | 18.6% (3.4%) | |||||||||
| 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 (18.6%) | ||||||||||
| 2026 | $4B | MBG Intrinsic Value | $246 | ||||||||
| 2027 | $4B | ||||||||||
| 2028 | $5B | ||||||||||
| 2029 | $6B | ||||||||||
| 2030 | $7B | ||||||||||
| 2031 | $8B | ||||||||||
| Terminal Value | $175B | Net Worth/Share | $25 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $140B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $2B | $1,028 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $6B | WACC | 7.3% | 893 | 965 | 1,052 | 1,159 | 1,293 | |||
| Equity Value | $136B | 7.4% | 885 | 955 | 1,040 | 1,144 | 1,275 | ||||
| Shares Outstanding | 132,241,000 | 7.4% | 876 | 945 | 1,028 | 1,130 | 1,258 | ||||
| 7.9% | 800 | 857 | 924 | 1,005 | 1,105 | ||||||
| DCF Intrinsic Value | $1,028 | 8.4% | 734 | 782 | 838 | 904 | 983 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||