Intrinsic Valuation of: KSPI
	Free Cash Flow Average and Growth over past 5Y					Key Statistics
	Year		FCF	FCF (FCF/Revenue)
	2020		-	-		EPS (FY)	11		Market Cap	$17B
	2021		-	- (-)		P/E Ratio	8		Total Asset	$8,377B
	2022		$45B	- (-)		Net Income	$1,040B		Total Debt	$24B
	2023		$962B	2015.5% (1400.5%)		EBITDA	$1,271B		Total Liab	$6,804B
	2024		$1,056B	9.8% (-27.1%)		Opr Margin	0.50		Debt/Equity	0.02
	2025		$486B	-54.0% (-65.5%)		PreTax Margin	50.42		BV/Share	7,462
	5Y Average FCF		$637B	657.1% (436.0%)
						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		$608B			MBG Intrinsic Value			$96
	2027		$760B
	2028		$950B
	2029		$1,187B
	2030		$1,484B
	2031		$1,855B
	Terminal Value		$38,559B			Net Worth/Share			$8,244
	DCF Valuation			DCF Valuation "What If" Scenario Table
	Enterprise Value	$30,206B				Growth Rate
	(+) Cash & Cash Equivalents	$619B			$161,445	1.5%	2.0%	2.5%	3.0%	3.5%
	(-) Total Debt	$24B		WACC	7.3%	140,781	151,763	165,018	181,335	201,911
	Equity Value	$30,801B			7.4%	139,484	150,246	163,213	179,141	199,174
	Shares Outstanding	190,784,992			7.4%	138,209	148,757	161,445	176,998	196,507
					7.9%	126,565	135,268	145,574	157,971	173,167
	DCF Intrinsic Value	$161,445			8.4%	116,624	123,902	132,406	142,477	154,591
Analyzed by QuantJuice (2025)