| 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 | $18B | |||||
| 2021 | - | - (-) | P/E Ratio | 22 | Total Asset | $25B | |||||
| 2022 | $486M | - (-) | Net Income | $810M | Total Debt | $11B | |||||
| 2023 | $867M | 78.4% (86.3%) | EBITDA | $2B | Total Liab | $18B | |||||
| 2024 | $1B | 34.6% (36.2%) | Opr Margin | 23.50 | Debt/Equity | 1.49 | |||||
| 2025 | $1B | 0.2% (-8.6%) | PreTax Margin | 12.36 | BV/Share | 28 | |||||
| 5Y Average FCF | $922M | 15.0% (38.0%) | |||||||||
| Overall Market Assumptions: | |||||||||||
| Assumptions: | P/E for No-Growth Company: | 7.0 | |||||||||
| Perpetual Growth Rate (g): | 2.48% | Historical US Bond Yield: | 4.40% | ||||||||
| Discount Rate (WACC): | 7.00% | Current US Bond Yield: | 3.48% | ||||||||
| Forcasting Future Free Cash Flow for next 6Y | Modified Benjamin Graham's Intrinsic Value | ||||||||||
| Year | FCF Projection (15.0%) | ||||||||||
| 2026 | $1B | MBG Intrinsic Value | $28 | ||||||||
| 2027 | $1B | ||||||||||
| 2028 | $2B | ||||||||||
| 2029 | $2B | ||||||||||
| 2030 | $2B | ||||||||||
| 2031 | $2B | ||||||||||
| Terminal Value | $41B | Net Worth/Share | $28 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $35B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $556M | $94 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $11B | WACC | 6.5% | 86 | 97 | 111 | 129 | 153 | |||
| Equity Value | $24B | 7.1% | 71 | 80 | 90 | 103 | 120 | ||||
| Shares Outstanding | 258,276,483 | 7.8% | 60 | 67 | 74 | 84 | 96 | ||||
| 8.4% | 51 | 56 | 62 | 69 | 78 | ||||||
| DCF Intrinsic Value | $94 | 9.0% | 43 | 47 | 52 | 58 | 65 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||