| Intrinsic Valuation of: LNT | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 3 | Market Cap | $16B | |||||
| 2021 | - | - (-) | P/E Ratio | 21 | Total Asset | $23B | |||||
| 2022 | $582M | - (-) | Net Income | $690M | Total Debt | $9B | |||||
| 2023 | $486M | -16.5% (-27.1%) | EBITDA | $2B | Total Liab | $16B | |||||
| 2024 | $867M | 78.4% (86.3%) | Opr Margin | 0.22 | Debt/Equity | 1.24 | |||||
| 2025 | $1B | 34.6% (36.2%) | PreTax Margin | 10.98 | BV/Share | 27 | |||||
| 5Y Average FCF | $776M | 32.2% (31.8%) | |||||||||
| 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 | $1B | MBG Intrinsic Value | $26 | ||||||||
| 2027 | $2B | ||||||||||
| 2028 | $2B | ||||||||||
| 2029 | $3B | ||||||||||
| 2030 | $4B | ||||||||||
| 2031 | $4B | ||||||||||
| Terminal Value | $93B | Net Worth/Share | $27 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $73B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $81M | $249 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $9B | WACC | 7.3% | 212 | 232 | 255 | 284 | 321 | |||
| Equity Value | $64B | 7.4% | 210 | 229 | 252 | 280 | 316 | ||||
| Shares Outstanding | 256,876,000 | 7.4% | 207 | 226 | 249 | 277 | 311 | ||||
| 7.9% | 187 | 202 | 221 | 243 | 270 | ||||||
| DCF Intrinsic Value | $249 | 8.4% | 169 | 182 | 197 | 215 | 237 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||