| Intrinsic Valuation of: LRCX | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 4 | Market Cap | $124B | |||||
| 2021 | - | - (-) | P/E Ratio | 27 | Total Asset | $19B | |||||
| 2022 | $3B | - (-) | Net Income | $4B | Total Debt | $4B | |||||
| 2023 | $3B | -21.2% (-33.1%) | EBITDA | $5B | Total Liab | $10B | |||||
| 2024 | $5B | 83.2% (81.0%) | Opr Margin | 0.29 | Debt/Equity | 0.52 | |||||
| 2025 | $4B | -9.0% (6.4%) | PreTax Margin | 27.49 | BV/Share | 5 | |||||
| 5Y Average FCF | $4B | 17.7% (18.1%) | |||||||||
| 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 (17.7%) | ||||||||||
| 2026 | $5B | MBG Intrinsic Value | $32 | ||||||||
| 2027 | $6B | ||||||||||
| 2028 | $7B | ||||||||||
| 2029 | $8B | ||||||||||
| 2030 | $10B | ||||||||||
| 2031 | $11B | ||||||||||
| Terminal Value | $235B | Net Worth/Share | $7 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $188B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $6B | $148 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $4B | WACC | 7.3% | 129 | 139 | 152 | 166 | 185 | |||
| Equity Value | $190B | 7.4% | 128 | 138 | 150 | 164 | 183 | ||||
| Shares Outstanding | 1,279,120,000 | 7.4% | 127 | 137 | 148 | 162 | 180 | ||||
| 7.9% | 117 | 124 | 134 | 145 | 159 | ||||||
| DCF Intrinsic Value | $148 | 8.4% | 107 | 114 | 122 | 131 | 142 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||