| Intrinsic Valuation of: LULU | |||||||||||
| Free Cash Flow Average and Growth over past 5Y | Key Statistics | ||||||||||
| Year | FCF | FCF (FCF/Revenue) | |||||||||
| 2020 | - | - | EPS (FY) | 15 | Market Cap | $29B | |||||
| 2021 | - | - (-) | P/E Ratio | 17 | Total Asset | $8B | |||||
| 2022 | $995M | - (-) | Net Income | $2B | Total Debt | $0 | |||||
| 2023 | $328M | -67.0% (-74.6%) | EBITDA | $3B | Total Liab | $3B | |||||
| 2024 | $2B | 401.6% (322.9%) | Opr Margin | 0.24 | Debt/Equity | - | |||||
| 2025 | $2B | -3.7% (-12.5%) | PreTax Margin | 23.67 | BV/Share | 36 | |||||
| 5Y Average FCF | $1B | 110.3% (78.6%) | |||||||||
| 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 | $2B | MBG Intrinsic Value | $132 | ||||||||
| 2027 | $2B | ||||||||||
| 2028 | $3B | ||||||||||
| 2029 | $4B | ||||||||||
| 2030 | $5B | ||||||||||
| 2031 | $6B | ||||||||||
| Terminal Value | $126B | Net Worth/Share | $38 | ||||||||
| DCF Valuation | DCF Valuation "What If" Scenario Table | ||||||||||
| Enterprise Value | $98B | Growth Rate | |||||||||
| (+) Cash & Cash Equivalents | $2B | $875 | 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | ||||
| (-) Total Debt | $0 | WACC | 7.3% | 763 | 822 | 894 | 983 | 1,094 | |||
| Equity Value | $100B | 7.4% | 756 | 814 | 884 | 971 | 1,079 | ||||
| Shares Outstanding | 114,729,000 | 7.4% | 749 | 806 | 875 | 959 | 1,065 | ||||
| 7.9% | 686 | 733 | 789 | 856 | 938 | ||||||
| DCF Intrinsic Value | $875 | 8.4% | 632 | 671 | 718 | 772 | 838 | ||||
| Analyzed by QuantJuice (2025) | |||||||||||